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Lazard, Inc. (LAZ) is the issuer of common shares that former board member Andrew Alper has notified for potential sale under Rule 144. The notice covers 10,000 common shares, to be sold through Goldman Sachs & Co. LLC on the NYSE, with an indicated aggregate market value of 427700 as of 08/20/2026.
The shares were acquired from the issuer on 07/28/2026 as compensation in the form of Restricted Stock Awards. No sales of these securities are listed as having occurred during the prior three months.
Lazard, Inc. (LAZ) reported that director Stephen R. Howe Jr., as the reporting person, received a grant of 103 Deferred Stock Units (DSUs) under Lazard, Inc.'s 2018 Incentive Compensation Plan. These DSUs, elected in lieu of cash director compensation, will convert into an equal number of shares of Common Stock on a one-for-one basis when he ceases to serve on the Board, bringing his directly held DSU balance to 14,843 units.
Lazard, Inc. (LAZ) reported that Chief Accounting Officer Michael Gathy received an award of 145 Restricted Stock Units (RSUs), acquired through dividend equivalent reinvestment on existing RSU awards. Each RSU represents a contingent right to receive one share of Common Stock. Following this award, Gathy holds 13,037 RSUs, which will vest over time, and this figure excludes 1,438 shares of Common Stock that are directly or indirectly beneficially owned.
Lazard, Inc. (LAZ) reported that Christopher Hogbin, CEO of Asset Management, acquired 2,954 Restricted Stock Units (RSUs) linked to Lazard common stock. The RSUs arose from dividend equivalent reinvestment on existing RSU awards. Of these RSUs, 985 will vest on or around March 18, 2027, 985 on or around March 20, 2028, and 984 on or around March 22, 2029. Following this grant, Hogbin directly held 266,659 RSUs, which are separate from 11,829 shares of common stock that he also beneficially owns directly or indirectly.
Lazard, Inc. (LAZ) reported that Chief Operating Officer Alexandra Soto acquired 3,413 Restricted Stock Units (RSUs), treated as a grant or award tied to Lazard common stock. Each RSU represents a contingent right to receive one share of common stock if and when it vests.
The RSUs include amounts acquired through dividend equivalent reinvestment on existing RSU awards. Of this grant, 1,087 RSUs are scheduled to vest on or around March 1, 2027, 1,174 RSUs on or around March 1, 2028, and 1,152 RSUs on or around March 1, 2029. After this transaction, Soto directly holds 308,034 RSUs, excluding 148,185 shares of Lazard common stock that are directly or indirectly beneficially owned outside these RSUs.
Lazard, Inc. (LAZ) reported that Chief Financial Officer Tracy Farr acquired 426 Restricted Stock Units (RSUs) as a grant/award tied to dividend equivalent reinvestment. Each RSU represents a contingent right to receive one share of Common Stock. Of these RSUs, 233 vest on or around March 1, 2027, 146 vest on or around March 1, 2028, and 47 vest on or around March 1, 2029. Following this award, Farr holds 38,395 RSUs, excluding 2,889 shares of Common Stock separately beneficially owned.
Lazard, Inc. reported Q2 2026 net revenue of $807.7 million, slightly above Q2 2025, but operating expenses grew faster, leaving operating income of $37.6 million and net income attributable to Lazard of $4.8 million, or $0.03 diluted EPS.
For the first six months of 2026, net revenue was $1.56 billion and net income attributable to Lazard was $105.7 million. The company recorded a $75.5 million pre-tax gain on the sale and deconsolidation of Edgewater, agreed to acquire Campbell Lutyens with initial $460 million consideration plus $115 million deferred and up to $85 million of earn-out, and ended June 30, 2026 with $1.30 billion in cash, cash equivalents and restricted cash against $1.70 billion of senior notes. Shares outstanding were 110.5 million as of July 17, 2026 after repurchasing 1.18 million shares in the first half.
Lazard, Inc. granted an equity award to director Kathy Elsesser. She received 3,982 Deferred Stock Units (DSUs) at $0.00 per unit under Lazard, Inc.'s 2018 Incentive Compensation Plan as part of the Non-Executive Director Compensation arrangement. These DSUs convert into an equal number of common shares on a one-for-one basis after she leaves the Board, bringing her directly held DSU balance to 3,982.
Lazard, Inc. reported second-quarter 2026 net revenue of $808 million and adjusted net revenue of $786 million, modestly above a year earlier, while U.S. GAAP net income fell to $5 million or $0.03 per diluted share. For the first half of 2026, net revenue was $1,564 million and adjusted net revenue $1,459 million, with GAAP net income of $106 million and adjusted net income of $60 million.
Financial Advisory net revenue declined, with Q2 2026 revenue of $450 million (down 9% year over year) and first-half revenue of $810 million, reflecting softer activity despite high-profile mandates including the $420 billion NextEra Energy–Dominion Energy combination and several multi‑billion‑dollar healthcare and other transactions.
Asset Management was the growth driver: Q2 2026 net revenue was $351 million, up 20% year over year, and first-half revenue was $761 million, up 31%. Assets under management reached a record $285 billion as of June 30, 2026, 15% above a year earlier, supported by average AUM of $271 billion in the first half and positive net flows of $7.4 billion.
Expenses remained elevated. The adjusted compensation ratio was 69.9% and the adjusted non‑compensation ratio 22.0% for the first half, contributing to an adjusted operating margin of 8.1%. The effective tax rate for Q2 was unusually high at 63.5% on a GAAP basis and 69.7% on an adjusted basis, which management describes as affected by anomalous factors. Lazard returned $277 million to shareholders in the first half, authorized an additional $200 million of share repurchases (total authorization about $257 million), and declared a quarterly dividend of $0.50 per share, ending the quarter with cash and cash equivalents of about $1.1 billion.
Lazard, Inc. filed an initial statement of beneficial ownership for Kathy Elsesser, who is identified as a director of the company. The Form 3 does not list any equity transactions or derivative positions and reflects no reported changes in ownership at this time.