SEC Form 4 · accession 0001311370-16-000057
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
Feb 26, 2016
Accepted (ET)
Mar 1, 2016 · 7:06 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, 2016 | M | 102,677 | — | A | 164,778 | D | |
| Class A Common StockF2,F3 | Mar 1, 2016 | D | 50,579 | $35.18 | D | 114,199 | 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 UnitsF4,F5,F6 | — | Feb 26, 2016 | A | 17,227 | A | — | — | Class A Common Stock | 17,227 | 43,440 | D |
| Restricted Stock UnitsF1,F7 | — | Mar 1, 2016 | M | 22,260 | D | Mar 1, 2016 | Mar 1, 2016 | Class A Common Stock | 22,260 | 21,180 | D |
| Performance-based Restricted Stock UnitsF1,F7 | — | Mar 1, 2016 | M | 80,417 | D | Mar 1, 2016 | Mar 1, 2016 | Class A Common Stock | 80,417 | 55,643 | D |
Explanation of responses
- F1Shares of Class A common stock were acquired upon the vesting of the relevant portion of prior grants of Performance-based Restricted Stock Units ("PRSUs") and Restricted Stock Units ("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 Lazard Ltd's proxy statements.
- F2Represents shares of Class A common stock sold to the Company to cover estimated taxes arising from the vesting of PRSUs and RSUs.
- F3Represents the New York Stock Exchange closing price of Class A common stock on February 29, 2016, the trading day immediately preceding the vesting date.
- F4Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU and RSU awards.
- F5Each RSU represents a contingent right to receive one share of Class A common stock.
- F6Of these RSUs, 4,440 vested on March 1, 2016, 3,500 will vest on or around March 1, 2017, 3,655 will vest on or around March 1, 2018 and 5,632 will vest on or around March 1, 2019.
- F7Each RSU, and each PRSU (the performance conditions of which have been satisfied), represented or represents a contingent right to receive one share of Class A common stock.