Form 4: Lazard Officer Acquires 95 Restricted Stock Units

Lazard's Chief Accounting Officer, Michael Gathy, acquired 95 Restricted Stock Units through dividend reinvestment, increasing his beneficial ownership to 9,353 RSUs.

Summary

• Michael Gathy, the Chief Accounting Officer of Lazard, Inc. (LAZ), acquired 95 Restricted Stock Units (RSUs).
• The transaction date for this acquisition was November 14, 2025.
• The RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.
• Each RSU represents a contingent right to receive one share of Lazard Common Stock.
• Following this transaction, Michael Gathy beneficially owns a total of 9,353 derivative securities, specifically Restricted Stock Units.
• The newly acquired 95 RSUs have a staggered vesting schedule: 23 units will vest around March 2, 2026; 40 units will vest around March 1, 2027; and the remaining 32 units will vest around March 1, 2028.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as an officer is increasing their beneficial ownership, even if through a routine dividend reinvestment. This generally signals continued alignment with the company's long-term performance.

Positives

• Chief Accounting Officer Michael Gathy increased his beneficial ownership of Lazard, Inc. equity by acquiring 95 Restricted Stock Units.
• The acquisition through dividend equivalent reinvestment demonstrates a mechanism for executives to grow their equity stake in the company, aligning their interests with shareholders.

Future Outlook

NA

Industry Context

This filing is an insider transaction report, which provides specific details about an executive's equity holdings and changes. It does not directly provide information related to broader industry trends or competitive landscape, but rather reflects an individual's stake in the company.

Stakeholder Impact

• Shareholders may view the increase in beneficial ownership by a key executive as a positive signal of management's continued commitment and alignment with the company's long-term interests.

Next Steps

• 23 Restricted Stock Units are scheduled to vest around March 2, 2026.
• 40 Restricted Stock Units are scheduled to vest around March 1, 2027.
• 32 Restricted Stock Units are scheduled to vest around March 1, 2028.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of Restricted Stock Units by a company officer through dividend reinvestment. Such transactions are common and do not typically indicate a significant change in the company's fundamental outlook or warrant an immediate change in investment recommendation. Investors should consider broader financial performance and strategic developments for investment decisions.

Keywords

Lazard, LAZ, Michael Gathy, Chief Accounting Officer, Restricted Stock Units, RSU, insider transaction, beneficial ownership, SEC Form 4