SEC Form 4 · accession 0001209191-18-016897
Lazard, Inc. · LAZ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Alexander F. Stern
Officer — Chief Operating Officer
Period of report
Mar 1, 2018
Accepted (ET)
Mar 5, 2018 · 6:51 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 |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Mar 1, 2018 | M | 175,702 | — | A | 276,886 | D | |
| Class A Common StockF2,F3 | Mar 2, 2018 | D | 86,024 | $53.47 | D | 190,862 | D | |
| Class A Common StockF4,F3 | Mar 2, 2018 | S | 15,160 | $53.47 | D | 175,702 | D | |
| Class A Common StockF5 | Mar 5, 2018 | S | 50,000 | $53.02 | D | 125,702 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance-based Restricted Stock UnitsF6 | — | Mar 1, 2018 | M | 154,486 | D | Mar 1, 2018 | Mar 1, 2018 | Class A Common Stock | 154,486 | 86,411 | D |
| Restricted Stock UnitsF7 | — | Mar 1, 2018 | M | 21,216 | D | Mar 1, 2018 | Mar 1, 2018 | Class A Common Stock | 21,216 | 35,493 | D |
Explanation of responses
- F1Shares of Class A Common Stock were acquired upon the vesting of a prior grant of Performance-based Restricted Stock Units ("PSRUs") awarded with respect to compensation for 2014, including certain Restricted Stock Units ("RSUs") that had been acquired pursuant to the dividend equivalent reinvestment provisions of the underlying PRSU award. The grant was previously reflected in the Company's proxy statements.
- F2Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the settlement of PRSUs and RSUs.
- F3Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the transaction date.
- F4Represents shares of Class A Common Stock sold to the Company.
- F5Reflects a weighted average purchase price of $53.02 per share. The reporting person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares sold at each separate price.
- F6Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.
- F7Each RSU represents a contingent right to receive one share of Class A Common Stock.