SEC Form 4 · accession 0001209191-18-031160
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
May 15, 2018
Accepted (ET)
May 17, 2018 · 6:39 pm EDT
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 | May 15, 2018 | M | 3,002 | — | A | 64,910 | D | |
| Restricted Class A Common StockF2,F3 | May 15, 2018 | F | 1,598 | $55.33 | D | 63,312 | 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 UnitsF1,F4 | — | May 15, 2018 | M | 3,002 | D | — | — | Restricted Class A Common Stock | 3,002 | 0 | D |
Explanation of responses
- F1The reporting person is eligible for retirement under the Company's RSU Retirement Policy, which is described in the Company's 2018 Proxy Statement. As a result, certain Restricted Stock Units ("RSUs") that were previously granted to the reporting person pursuant to the dividend equivalent reinvestment provisions of an underlying Performance-based Restricted Stock Unit ("PRSU") award are no longer subject to the service-based vesting requirements contained in the underlying award agreement. Such RSUs have now 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 agreement until the original vesting date set forth therein.
- F2Represents shares of Restricted 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 the trading day immediately preceding the settlement date.
- F4Amount excludes 596,863 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person.