Lazard (LAZ) Insider Sold 25k Shares, Proposes Additional 50k Sale

Rhea-AI Filing Summary

Lazard, Inc. (LAZ) Form 144 filing reports proposed and recent sales of common stock by an insider. The filer plans to sell 50,000 shares through Fidelity Brokerage Services with an approximate aggregate market value of $2,847,600.20, representing part of 112,766,091 shares outstanding. The securities were acquired on 03/13/2025 via restricted stock vesting and were paid as compensation. The filing shows a prior sale by the same person of 25,000 shares on 09/10/2025 for gross proceeds of $1,392,661.22. The filer certifies no undisclosed material adverse information.

Positive

• Clear disclosure of acquisition date and nature (restricted stock vesting on 03/13/2025)
• Specific sale details provided: 50,000 shares proposed, aggregate market value $2,847,600.20, broker identified
• Prior sale reported with date and gross proceeds (25,000 shares on 09/10/2025 for $1,392,661.22)
• Filer attestation that no undisclosed material adverse information is known

Negative

• Insider liquidity event: Proposed sale of 50,000 shares may be viewed as significant insider selling
• Timing ambiguity: Approximate date of sale listed as 09/11/2025, which is close to the prior sale date indicating concentrated dispositions

Insights

Securities Analyst

TL;DR: Insider plans to sell 50,000 vested shares worth ~$2.85M; a recent 25,000-share sale was executed already.

The filing documents a routine Rule 144 notice where shares acquired by restricted stock vesting on 03/13/2025 are being liquidated through a broker. The proposed sale size (50,000 shares, $2.85M) is explicit and follows a prior 25,000-share sale that generated $1.39M. This is a disclosure of intended and recent transactions rather than a change in corporate fundamentals; it provides transparency about insider liquidity events.

Corporate Governance Expert

TL;DR: Filing shows executive compensation conversion to marketable stock and subsequent disposition; disclosure obligations met.

The record shows restricted stock vested and was listed as compensation, then offered for sale under Rule 144 through Fidelity. The signer affirms absence of undisclosed material information, satisfying the attestation typically required for Form 144. The details include acquisition date, nature of acquisition, and brokerage channel, supporting governance transparency on insider sales.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	50000	2847600.20	112766091	09/11/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	03/13/2025	Restricted Stock Vesting	Issuer			50000	03/13/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Evan L. Russo 30 Rockefeller Plaza New York NY 10112	Common	09/10/2025	25000	1392661.22

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does LAZ's Form 144 disclose about planned insider sales?

The filing discloses a proposed sale of 50,000 common shares through Fidelity with an aggregate market value of $2,847,600.20 and an approximate sale date of 09/11/2025.

How were the shares that LAZ's insider is selling acquired?

The shares were acquired on 03/13/2025 via restricted stock vesting from the issuer and were paid as compensation.

Has the insider already sold any LAZ shares recently?

Yes. The filing reports a prior sale by the same person of 25,000 shares on 09/10/2025 that generated gross proceeds of $1,392,661.22.

Through which broker will the LAZ shares be sold?

The proposed sales are to be executed through Fidelity Brokerage Services LLC at the address listed in the filing.

Does the filer state any undisclosed material information about LAZ?

The signer represents by signing the notice that they do not know any material adverse information regarding the issuer that has not been publicly disclosed.