Lazard director granted 100 deferred stock units

Lazard, Inc. director Stephen R. Howe Jr. received a grant of 100 Deferred Stock Units as part of his non-executive director compensation.

Rhea-AI Filing Summary

Lazard, Inc. director Stephen R. Howe Jr. received a grant of 100 Deferred Stock Units as part of his non-executive director compensation. These units were elected in lieu of cash under Lazard’s 2018 Incentive Compensation Plan and convert into common stock on a one-for-one basis after he leaves the Board.

Following this grant, Howe holds 10,498 Deferred Stock Units directly. The transaction is a routine equity-based compensation award rather than an open-market purchase or sale.

Insights

Equity compensation analyst

Routine equity grant in lieu of director cash fees.

Director Stephen R. Howe Jr. elected to take part of his Lazard, Inc. board compensation as 100 Deferred Stock Units under the 2018 Incentive Compensation Plan instead of cash. The award carries no strike price and converts into common stock one-for-one.

The filing shows 10,498 Deferred Stock Units held after the transaction, indicating this is a small, incremental grant. Because this is standard, non-cash board compensation and not an open-market trade, it provides limited insight into management’s current view of the stock.

Insider Trade Summary

Grant/Award: 100 shares

Grant/Award 1 txn

Insider Howe Stephen R. Jr.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	100	$0.00	$0.00

Holdings After Transaction: Deferred Stock Units — 10,498 contracts (Direct)

Footnotes (2)

1. F1. The reporting person has made an annual election to receive Deferred Stock Units ("DSUs") under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended, in lieu of all or a portion of such reporting person's cash compensation payable pursuant to the Non-Executive Director Compensation arrangement.
2. F2. The DSUs will be converted into Common Stock on a one-for-one basis following the date that the reporting person resigns from, or otherwise ceases to be a member of, the Board of Directors of Lazard, Inc.

Key Figures

Deferred Stock Units granted: 100 units Deferred Stock Units after grant: 10,498 units Grant price per unit: $0.00 +1 more

4 metrics

Deferred Stock Units granted 100 units Grant to Stephen R. Howe Jr. on May 15, 2026

Deferred Stock Units after grant 10,498 units Total DSUs held directly following transaction

Grant price per unit $0.00 Awarded as compensation, not a market purchase

Underlying common stock 100 shares One-for-one conversion from 100 Deferred Stock Units

Key Terms

Deferred Stock Units, 2018 Incentive Compensation Plan, Non-Executive Director Compensation, Common Stock

4 terms

Deferred Stock Units financial

"The reporting person has made an annual election to receive Deferred Stock Units ("DSUs") under Lazard, Inc.'s 2018 Incentive Compensation Plan"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

2018 Incentive Compensation Plan financial

"Deferred Stock Units ("DSUs") under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended"

Non-Executive Director Compensation financial

"in lieu of all or a portion of such reporting person's cash compensation payable pursuant to the Non-Executive Director Compensation arrangement"

Common Stock financial

"The DSUs will be converted into Common Stock on a one-for-one basis"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Lazard (LAZ) report for Stephen R. Howe Jr.?

Lazard reported that director Stephen R. Howe Jr. received 100 Deferred Stock Units as compensation. These units were granted under Lazard’s 2018 Incentive Compensation Plan, increasing his total Deferred Stock Unit holdings to 10,498 after the transaction.

Is the Lazard (LAZ) Form 4 for Stephen Howe a stock purchase or sale?

The Form 4 does not show a market purchase or sale. It reports a grant of 100 Deferred Stock Units as compensation, elected in lieu of cash fees, with no cash transaction in the open market involved.

How do Lazard (LAZ) Deferred Stock Units work for director Stephen Howe?

Lazard’s Deferred Stock Units convert into common stock on a one-for-one basis. For Stephen Howe, the units will be converted into Lazard common shares after he resigns from or otherwise ceases to be a member of the company’s Board of Directors.

How many Deferred Stock Units does Stephen R. Howe Jr. hold at Lazard (LAZ) after this filing?

After receiving 100 Deferred Stock Units in this reported grant, Stephen R. Howe Jr. holds 10,498 Deferred Stock Units directly. These units represent future rights to receive Lazard common stock on the specified conversion schedule.

Why did Stephen Howe receive Lazard (LAZ) Deferred Stock Units instead of cash?

Stephen Howe made an annual election to receive Deferred Stock Units under Lazard’s 2018 Incentive Compensation Plan in lieu of some or all cash compensation payable under the non-executive director compensation arrangement, shifting part of his pay into equity-linked awards.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/19/2026 - 04:54 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Howe Stephen R. Jr.

(Last) (First) (Middle)

C/O LAZARD, INC.

30 ROCKEFELLER PLAZA

(Street)

NEW YORK NEW YORK 10112

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lazard, Inc. [ LAZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units(1)	$0(2)	05/15/2026	05/15/2026	A		100		(2)	(2)	Common Stock	100	$0	10,498	D

Explanation of Responses:

1. The reporting person has made an annual election to receive Deferred Stock Units ("DSUs") under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended, in lieu of all or a portion of such reporting person's cash compensation payable pursuant to the Non-Executive Director Compensation arrangement.

2. The DSUs will be converted into Common Stock on a one-for-one basis following the date that the reporting person resigns from, or otherwise ceases to be a member of, the Board of Directors of Lazard, Inc.

Remarks:

	/s/ Stephen R. Howe, Jr. by Shari L. Soloway under a P of A	05/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)