Form 4: Lazard Director Iris Knobloch Reports Stock Unit Grant

Lazard, Inc. director Iris Knobloch has reported the grant of Deferred Stock Units (DSUs) under the company's incentive plan.

Summary

• Iris Knobloch, a Director at Lazard, Inc., was awarded Deferred Stock Units (DSUs) on June 1, 2026.
• These DSUs were granted under Lazard's 2018 Incentive Compensation Plan as part of the compensation for non-executive directors.
• The DSUs are convertible into Common Stock on a one-for-one basis upon the reporting person's cessation of service as a Board member.
• A total of 4,010 DSUs were granted, with a conversion value of $0 at the time of the award.
• Following this transaction, Iris Knobloch beneficially owns 42,160 shares of Common Stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard director compensation event rather than a significant strategic or financial development.

Positives

• Director compensation structure includes equity awards, aligning director interests with shareholders.
• The grant of DSUs indicates continued engagement and commitment from a board member.
• Clear terms for conversion of DSUs to common stock provide transparency.

Negatives

• The DSUs have a $0 conversion value at the time of the award, suggesting they are performance-based or subject to future vesting conditions not detailed in this filing.
• The filing does not provide details on the performance metrics or vesting schedule for these DSUs.

Risks

• Potential for future dilution if a large number of DSUs are converted into common stock.
• The value of the DSUs is subject to the future performance of Lazard's stock price.

Future Outlook

The DSUs are expected to convert into Common Stock on a one-for-one basis following the reporting person's resignation from or cessation of service as a member of the Board of Directors of Lazard, Inc.

Industry Context

StockSavvy.ai notes that the issuance of Deferred Stock Units (DSUs) to non-executive directors is a common practice in the financial services industry, aimed at aligning director compensation with long-term shareholder value and company performance.

Comparison to Industry Standards

• Many financial institutions, including competitors of Lazard such as [Competitor A] and [Competitor B], also utilize DSU grants as a standard component of their non-executive director compensation packages.
• The one-for-one conversion ratio is typical, though the vesting and performance conditions can vary significantly across the industry.
• The specific details of Lazard's 2018 Incentive Compensation Plan, as amended, would need to be compared to similar plans at peer institutions for a comprehensive benchmark.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of DSUs is a form of compensation. Their ultimate impact depends on the future performance of Lazard's stock and the number of shares issued upon conversion.
• Directors: This filing confirms a component of Iris Knobloch's compensation as a director.

Next Steps

• Conversion of DSUs to Common Stock upon Iris Knobloch's departure from the Board.

Key Dates

Keywords

Lazard Inc, LAZ, Form 4, SEC Filing, Director Compensation, Deferred Stock Units, DSU, Equity Award, Beneficial Ownership, Insider Trading