SEC Form 4 · accession 0001209191-17-062161
Lazard, Inc. · LAZ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ashish Bhutani
Officer — CEO of Lazard Asset Management · Director
Period of report
Nov 17, 2017
Accepted (ET)
Nov 21, 2017 · 6:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001311370
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Class A Common StockF1 | Nov 17, 2017 | M | 2,255 | — | A | 51,882 | D | |
| Restricted Class A Common StockF2,F3,F4 | Nov 17, 2017 | F | 1,260 | $46.00 | D | 50,622 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5,F6,F7 | — | Nov 17, 2017 | A | 2,255 | A | — | — | Class A Common Stock | 2,255 | 2,255 | D |
| Restricted Stock UnitsF1,F4 | — | Nov 17, 2017 | M | 2,255 | D | — | — | Restricted Class A Common Stock | 2,255 | 0 | D |
Explanation of responses
- F1Restricted Stock Units ("RSUs") granted to the reporting person pursuant to the dividend equivalent reinvestment provisions of underlying Performance-based Restricted Stock Unit ("PRSU") awards have become subject to taxation and have been settled in the form of Restricted Class A Common Stock. The Restricted Class A Common Stock, excluding the portion retained by the Company in order to cover taxes required to be withheld, will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreements until the original vesting dates set forth therein.
- F2Represents shares of Class A Common Stock retained by the Company to cover taxes required to be withheld in connection with the settlement of RSUs.
- F3Represents the New York Stock Exchange closing price of Class A Common Stock on November 16, 2017, the trading day immediately preceding the settlement date.
- F4Amount excludes 523,456 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person.
- F5Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU awards.
- F6Each RSU represents a contingent right to receive one share of Class A Common Stock.
- F7Of these RSUs, 318 will vest on or around March 1, 2018, 992 will vest on or around March 1, 2019, and 945 will vest on or around March 2, 2020.