Form 4: Lazard Director Peter Harrison Reports Deferred Stock Units

Lazard, Inc. director Peter Harrison has reported the acquisition of Deferred Stock Units (DSUs) under the company's incentive plan.

Summary

• Peter Harrison, 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 Non-Executive Director Compensation.
• The DSUs are convertible into Lazard's Common Stock on a one-for-one basis.
• Conversion will occur after Harrison ceases to be a member of the Board of Directors.
• A total of 3,777 DSUs were awarded, with a reported value of $0 at the time of the award.
• Following this transaction, Harrison beneficially owns 8,669 shares of Common Stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard director compensation award and does not contain new financial performance data or strategic shifts.

Positives

• Director compensation structure includes equity awards, aligning director interests with shareholders.
• The award of DSUs indicates continued engagement and commitment from a board member.
• The conversion mechanism ensures that the director receives the economic benefit of stock ownership upon departure from the board.

Negatives

• The DSUs have a reported value of $0 at the time of award, which may reflect the accounting treatment or a specific grant condition rather than immediate market value.
• The filing does not provide details on the vesting schedule or performance conditions, if any, associated with the DSUs.

Risks

• The value of the DSUs is subject to the future performance of Lazard's stock price.
• Potential for conflicts of interest if compensation structures are not perceived as fair or market-aligned by shareholders.

Future Outlook

The Deferred Stock Units will convert into Common Stock on a one-for-one basis following the reporting person's cessation of service as a member of the Board of Directors.

Industry Context

StockSavvy.ai notes that the reporting of Deferred Stock Units by directors is a common practice in the financial services industry, aimed at aligning executive and director compensation with long-term shareholder value. This filing is standard for director equity awards.

Stakeholder Impact

• Shareholders: The award aligns director interests with long-term stock performance, but the immediate $0 valuation may warrant further inquiry into the award's terms.
• Employees: This filing is primarily relevant to board compensation and has minimal direct impact on general employees.
• Management: Standard reporting procedure for director equity awards.

Next Steps

• Conversion of Deferred Stock Units to Common Stock upon Peter Harrison's departure from the Board of Directors.

Key Dates

Keywords

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