Form 4: Lazard Director Iris Knobloch Reports Acquisition of Deferred Stock Units

Director Iris Knobloch reports acquisition of deferred stock units (DSUs) under Lazard, Inc.'s 2018 Incentive Compensation Plan.

Summary

• On June 3, 2024, Iris Knobloch, a director of Lazard, Inc., acquired 4,307 Deferred Stock Units (DSUs) under the company's 2018 Incentive Compensation Plan.
• These DSUs were awarded as part of the Non-Executive Director Compensation arrangement.
• The DSUs will convert into common stock on a one-for-one basis when Knobloch resigns or ceases to be a member of Lazard, Inc.'s Board of Directors.
• Following the reported transaction, Knobloch beneficially owns 34,158 DSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The alignment of director interests with shareholder value is a positive aspect.

Positives

• The acquisition of DSUs aligns the director's interests with the long-term performance of the company.
• The DSUs are part of a pre-existing compensation plan, indicating a structured approach to director compensation.

Future Outlook

The DSUs will be converted into common stock upon the director's resignation or departure from the Board of Directors.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director compensation packages often include deferred stock units to align director interests with shareholder value, a common practice among publicly traded companies like Lazard.
• Companies such as Goldman Sachs and Morgan Stanley also utilize similar equity-based compensation plans for their directors.

Stakeholder Impact

• The acquisition of DSUs by a director can positively influence shareholder confidence by aligning management's interests with the company's long-term success.

Key Dates