Form 4: Lazard Inc. Director Daniel H. Schulman Reports Acquisition of Deferred Stock Units

Director Daniel H. Schulman reports acquisition of 1,482 Deferred Stock Units (DSUs) of Lazard, Inc. under the company's 2018 Incentive Compensation Plan.

Summary

• On June 11, 2024, Daniel H. Schulman, a director of Lazard, Inc., acquired 1,482 Deferred Stock Units (DSUs) under the company's 2018 Incentive Compensation Plan.
• These DSUs were awarded as part of the Non-Executive Director Compensation arrangement.
• The DSUs will convert into Common Stock on a one-for-one basis when Schulman resigns or ceases to be a member of the Board of Directors.
• Following the reported transaction, Schulman beneficially owns 5,926 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with the company's long-term performance.

Positives

• The acquisition of DSUs reflects continued participation in the company's incentive compensation plan.
• The structure of the DSU award aligns the director's interests with the long-term performance of the company, as conversion to common stock is deferred until departure from the board.

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 acquisition of DSUs by a director signals confidence in the company's future performance, which can positively influence shareholder sentiment.

Key Dates