Form 4: Lazard Director Michelle Jarrard Reports Acquisition of Deferred Stock Units

Michelle Jarrard, a director at Lazard, Inc., reported the acquisition of 4,307 deferred stock units (DSUs) as part of the non-executive director compensation arrangement.

Summary

• On June 3, 2024, Michelle Jarrard, a director of Lazard, Inc., acquired 4,307 deferred stock units (DSUs) under the company's 2018 Incentive Compensation Plan.
• These DSUs are part of the non-executive director compensation arrangement.
• The DSUs will convert into common stock on a one-for-one basis when Jarrard resigns or ceases to be a member of Lazard's Board of Directors.
• Following the reported transaction, Jarrard beneficially owns 39,387 shares of Lazard, Inc.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it confirms ongoing governance practices.

Positives

• The acquisition of DSUs reflects ongoing compensation arrangements for non-executive directors.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to director compensation and aligns with standard practices for publicly traded companies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the long-term performance of the company.

Key Dates