Form 4: Lazard Director Receives Deferred Stock Units

Andrew M. Alper, a Director at Lazard, Inc., has received 857 Deferred Stock Units as part of an annual compensation election.

Summary

• Andrew M. Alper, a Director of Lazard, Inc., has been granted 857 Deferred Stock Units (DSUs).
• These DSUs were awarded under Lazard's 2018 Incentive Compensation Plan.
• The DSUs are in lieu of a portion of Mr. Alper's cash compensation as a Non-Executive Director.
• Each DSU will convert into one share of Lazard's Common Stock.
• Conversion will occur after Mr. Alper resigns from or ceases to be a member of the Board of Directors.
• The transaction date was May 15, 2026, with the grant also effective on this date.
• Mr. Alper's total beneficial ownership of common stock following this transaction is 99,706 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine compensation adjustment for a director rather than a significant financial event or strategic shift.

Positives

• Director compensation structure aligns with long-term incentives through stock units.
• Annual election process provides clarity and predictability for director compensation.
• The company has a formal incentive compensation plan in place.

Negatives

• No direct financial performance metrics are disclosed in this filing.
• The value of the DSUs is not explicitly stated in dollar terms.

Risks

• The value of the DSUs is subject to the future market price of Lazard's Common Stock.
• Potential for dilution of existing shareholder equity if a large number of DSUs are exercised.

Future Outlook

The DSUs will convert into common stock upon the reporting person's departure from the Board of Directors, indicating a future potential increase in outstanding shares.

Industry Context

StockSavvy.ai notes that the use of Deferred Stock Units for director compensation is a common practice in the financial services industry, aligning director interests with shareholder value over the long term.

Stakeholder Impact

• Shareholders: Potential for slight dilution of ownership upon conversion of DSUs, but also aligns director incentives with long-term stock performance.
• Directors: Provides a mechanism for directors to receive equity-based compensation.
• Employees: Indirect impact through the company's compensation structure and governance.

Next Steps

• Conversion of DSUs to Common Stock upon reporting person's departure from the Board.

Key Dates

Keywords

Lazard Inc, LAZ, Form 4, Director Compensation, Deferred Stock Units, Andrew M. Alper, Insider Trading, SEC Filing, Equity Compensation