SEC Form 4 · accession 0001311370-17-000011
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
Feb 23, 2017
Accepted (ET)
Feb 27, 2017 · 6:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001311370
Table I — non-derivative securities
No Table I lines on this filing.
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 UnitsF1,F2,F3 | — | Feb 23, 2017 | A | 170,020 | A | — | — | Class A Common Stock | 170,020 | 226,197 | D |
| Restricted Stock UnitsF4,F5,F7,F6 | — | Feb 24, 2017 | A | 19,065 | A | — | — | Class A Common Stock | 19,065 | 51,335 | D |
Explanation of responses
- F1Represents prior grants of Performance-based Restricted Stock Units ("PRSUs") awarded with respect to compensation for 2013, 2014 and 2015 for which performance conditions have been satisfied. These grants were previously reflected in Lazard Ltd's proxy statements for the relevant years.
- F2Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.
- F3Of these PRSUs, 115,051 will vest on or around March 1, 2017, 17,825 will vest on or around March 1, 2018 and 37,144 will vest on or around March 1, 2019.
- F4Additional Restricted Stock Units ("RSUs") were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU awards.
- F5Each RSU represents a contingent right to receive one share of Class A Common Stock.
- F6Of these RSUs, 6,142 will vest on or around March 1, 2017, 2,999 will vest on or around March 1, 2018, 5,969 will vest on or around March 1, 2019 and 3,955 will vest on or around March 2, 2020.
- F7Amount excludes 447,916 shares of Class A Common Stock beneficially owned by the reporting person.