SEC Form 4 · accession 0001311370-16-000054
Lazard, Inc. · LAZ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthieu Bucaille
Officer — Chief Financial Officer
Period of report
Feb 26, 2016
Accepted (ET)
Mar 1, 2016 · 7:01 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 | Feb 26, 2016 | M | 6,424 | — | A | 193,288 | D | |
| Restricted Class A Common StockF2 | Mar 1, 2016 | M | 66,884 | — | D | 126,404 | D | |
| Class A Common StockF2 | Mar 1, 2016 | M | 66,884 | — | A | 300,311 | 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,F3,F4 | — | Feb 26, 2016 | A | 6,424 | A | — | — | Class A Common Stock | 6,424 | 6,424 | D |
| Restricted Stock UnitsF5,F1,F4 | — | Feb 26, 2016 | M | 6,424 | D | — | — | Restricted Class A Common Stock | 6,424 | 0 | D |
Explanation of responses
- F1The reporting person has become eligible for retirement under the Company's RSU Retirement Policy, which is described in the Company's 2015 Proxy Statement. As a result of the foregoing, certain Restricted Stock Units ("RSUs") that were acquired pursuant to the dividend equivalent reinvestment provisions of underlying Performance-based Restricted Stock Unit ("PRSU") and RSU 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 any portion that the reporting person may be permitted to sell solely in order to pay the related taxes (in accordance with the applicable award agreements), will remain subject to all restrictive covenants contained in the underlying award agreements until the original vesting dates set forth in the award agreements.
- F2Shares of unrestricted Class A common stock were acquired upon the vesting of the relevant portion of prior grants of PRSUs and RSUs awarded with respect to compensation for 2012, including certain RSUs that had been acquired pursuant to the dividend equivalent reinvestment provisions of the underlying PRSU and RSU awards. The grants were previously reflected in the Company's proxy statements. The PRSUs and RSUs that had been acquired pursuant to the awards had previously been converted into shares of Restricted Class A common stock in connection with the reporting person's retirement eligibility in February 2016, and such shares remained subject to vesting (as described above).
- F3Each RSU represents a contingent right to receive one share of Class A common stock.
- F4Of these RSUs, 1,445 will vest on or around March 1, 2017, 1,967 will vest on or around March 1, 2018 and 3,012 will vest on or around March 1, 2019.
- F5Each RSU represents a contingent right to receive one share of Class A common stock.