Form 4: Lazard Inc. Executive Acquires Additional Restricted Stock Units Through Dividend Reinvestment

Michael Gathy, Chief Accounting Officer of Lazard Inc., acquired additional restricted stock units (RSUs) through dividend equivalent reinvestment.

Summary

• On May 17, 2024, Michael Gathy, the Chief Accounting Officer of Lazard Inc., acquired 64 Restricted Stock Units (RSUs).
• These RSUs were acquired through the dividend equivalent reinvestment provisions of underlying RSU awards.
• Each RSU represents a contingent right to receive one share of Lazard Inc. Common Stock.
• Of the 64 RSUs, 12 will vest around March 3, 2025, 25 will vest around March 2, 2026, and 27 will vest around March 1, 2027.
• Following the transaction, Gathy directly owns 5,205 RSUs, excluding 5 shares of Common Stock.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (acquisition of RSUs through dividend reinvestment) by a company executive, suggesting a neutral sentiment.

Positives

• The acquisition of RSUs through dividend reinvestment indicates confidence in the company's future performance.

Future Outlook

The vesting schedule of the RSUs indicates a long-term incentive plan for the executive.

Industry Context

Form 4 filings are routine disclosures of insider transactions and provide transparency to the market.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns management's interests with the company's long-term performance.

Key Dates