Form 4: Lazard Director Mendillo Receives Deferred Stock Units

Jane L. Mendillo, a director at Lazard, Inc., acquired 899 Deferred Stock Units (DSUs) on May 15, 2024, under the company's incentive compensation plan.

Summary

• On May 15, 2024, Jane L. Mendillo, a director of Lazard, Inc., acquired 899 Deferred Stock Units (DSUs).
• The acquisition was made under Lazard's 2018 Incentive Compensation Plan, as amended.
• Mendillo elected to receive these DSUs in lieu of a portion of her cash compensation as a non-executive director.
• The DSUs will convert to common stock on a one-for-one basis when Mendillo leaves the Board of Directors.
• Following the transaction, Mendillo beneficially owns 67,545 DSUs, excluding 1,400 shares of common stock she directly or indirectly owns.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of DSUs by a director is a routine event and signals confidence in the company's future, but it's not a major event that would drastically alter investor sentiment.

Positives

• The acquisition of DSUs reflects Mendillo's continued alignment with Lazard's long-term performance.
• Electing to receive DSUs in lieu of cash compensation demonstrates confidence in the company's future prospects.

Future Outlook

The DSUs will be converted into Common Stock on a one-for-one basis following the date that the reporting person resigns from, or otherwise ceases to be a member of, the Board of Directors of Lazard, Inc.

Industry Context

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

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and ownership.

Key Dates