Lazard (LAZ) director receives 83 Deferred Stock Units in lieu of cash pay

Rhea-AI Filing Summary

Lazard, Inc. director Stephen R. Howe Jr. acquired 83 Deferred Stock Units as a grant under the company’s 2018 Incentive Compensation Plan. He elected to receive these DSUs in lieu of all or part of his non-executive director cash compensation. After this award, he directly holds 10,398 Deferred Stock Units. The DSUs will convert into Lazard common stock on a one-for-one basis after he resigns from, or otherwise ceases to be a member of, the Board of Directors.

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

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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 NY 10112

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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

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

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

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)	02/17/2026	02/17/2026	A		83		(2)	(2)	Common Stock	83	$0	10,398	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	02/18/2026
	** 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.

FAQ

What did Lazard (LAZ) director Stephen R. Howe Jr. report on this Form 4?

Stephen R. Howe Jr. reported acquiring 83 Deferred Stock Units as a grant under Lazard’s 2018 Incentive Compensation Plan. These units were received instead of some or all cash compensation under the Non-Executive Director Compensation arrangement.

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

After this transaction, Stephen R. Howe Jr. directly holds 10,398 Deferred Stock Units. This total reflects the newly granted 83 units added to his previous balance, as disclosed in the Form 4 insider ownership information.

At what price were the Lazard (LAZ) Deferred Stock Units granted to Stephen R. Howe Jr.?

The 83 Deferred Stock Units were granted at a stated price of $0.0000 per unit. This reflects that the units were awarded as compensation rather than purchased in an open-market or cash transaction.

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

He made an annual election to receive Deferred Stock Units under Lazard’s 2018 Incentive Compensation Plan in lieu of all or a portion of his cash compensation payable under the Non-Executive Director Compensation arrangement, according to the filing footnotes.

When will the Lazard (LAZ) Deferred Stock Units convert into common stock for Stephen R. Howe Jr.?

The Deferred Stock Units will convert into Lazard common stock on a one-for-one basis after Stephen R. Howe Jr. resigns from, or otherwise ceases to be a member of, the company’s Board of Directors, as described in the footnotes.

What type of transaction code was used for Stephen R. Howe Jr.’s Lazard (LAZ) Deferred Stock Units grant?

The transaction used code “A”, which the filing describes as a grant, award, or other acquisition. This reflects that the 83 Deferred Stock Units were awarded as compensation rather than bought or sold.