Form 4: Lazard Inc. Director Kenneth M. Jacobs Reports Stock Transactions

Director Kenneth M. Jacobs reports acquisition and disposal of Lazard Inc. common stock and performance-based restricted participation units.

Summary

• On March 11, 2024, Kenneth M. Jacobs, a director of Lazard Inc., reported transactions involving the company's stock.
• Jacobs acquired 321,025 shares of common stock through the exchange of performance-based restricted participation units (PRPUs).
• Following this transaction, Jacobs directly owns 2,303,722 shares of common stock.
• He also disposed of 160,000 shares of common stock at a price of $39.20 to cover estimated taxes arising from the exchange of PRPUs.
• After the disposal, Jacobs directly owns 2,143,722 shares of common stock.
• The reported amount excludes 584,279 shares of common stock indirectly beneficially owned by Jacobs through a trust and 220,026 restricted participation units directly or indirectly beneficially owned.

Sentiment

Score: 5

Explanation: Neutral sentiment as it is a standard regulatory filing reporting stock transactions.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to the market regarding their trading activities.

Stakeholder Impact

• The transactions may provide insights to shareholders regarding management's view on the company's stock value.

Key Dates