Form 4: Lazard Director Richard Parsons Acquires Deferred Stock Units
SEC Form 4 Filing
Richard Parsons, a director at Lazard, Inc., acquired 757 deferred stock units as part of his compensation.
Summary
- Richard Parsons, a director of Lazard, Inc., has acquired 757 deferred stock units (DSUs).
- These DSUs were granted as part of his annual election to receive stock units instead of cash compensation under the company's 2018 Incentive Compensation Plan.
- The DSUs will convert to common stock on a one-for-one basis when Mr. Parsons leaves the board.
- Following this transaction, Mr. Parsons directly owns 108,709 deferred stock units.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests. There is no indication of any negative or unexpected events.
Positives
- The acquisition of deferred stock units aligns the director's interests with the long-term performance of the company.
- The use of deferred stock units as compensation can help conserve cash for the company.
Future Outlook
The deferred stock units will convert to common stock upon the director's departure from the board.
Industry Context
It is common practice for companies to use stock-based compensation to align the interests of directors and executives with those of shareholders.
Comparison to Industry Standards
- Many financial services firms use deferred stock units as part of their compensation packages for directors and executives.
- This practice is consistent with industry standards for incentivizing long-term performance and aligning interests with shareholders.
- Companies like Goldman Sachs and Morgan Stanley also use similar compensation structures.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns director interests with long-term company performance.
Key Dates
| Date | Description |
|---|---|
| 11/15/2024 | Date of the transaction where deferred stock units were acquired. |
| 11/19/2024 | Date the form was signed. |
Keywords
Deferred Stock Units, Director Compensation, Incentive Compensation Plan, Lazard, Stock Ownership, Richard Parsons
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.