[Form 4] Lazard, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider stock award reinvestment increased beneficial ownership. Lazard Chief Operating Officer Alexandra Soto received 2,380 restricted stock units (RSUs) on 08/15/2025 under dividend-equivalent reinvestment provisions. Each RSU converts to one share of common stock. The filing shows 2,380 RSUs added to the reporting position and reports beneficial ownership of 259,312 shares following the transaction; this total excludes 113,872 shares the filer holds directly or indirectly. The RSUs vest in three tranches: 583 around March 2, 2026; 864 around March 1, 2027; and 933 around March 1, 2028.

Positive

• Acquisition of 2,380 RSUs through dividend-equivalent reinvestment, increasing the reporting person's equity stake.
• Clear vesting schedule disclosed: 583 RSUs vest ~03/02/2026, 864 RSUs vest ~03/01/2027, 933 RSUs vest ~03/01/2028.
• Beneficial ownership disclosed as 259,312 shares following the transaction, with 113,872 shares separately noted as directly or indirectly owned.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider received dividend-reinvested RSUs, modestly increasing reported beneficial ownership without immediate sale or purchase.

The Form 4 documents an acquisition of 2,380 RSUs by COO Alexandra Soto on 08/15/2025 through dividend-equivalent reinvestment of existing RSU awards. The RSUs convert one-for-one into common shares and vest in defined tranches through 2028. This is a non-cash, compensatory equity accrual rather than an open-market purchase and therefore reflects compensation mechanics rather than a secondary market vote of confidence.

Corporate Governance Expert

TL;DR: Routine compensation-related equity grant reported; vesting schedule and ownership disclosure are compliant and clear.

The filing discloses the nature and vesting schedule of additional RSUs granted via dividend reinvestment, and separately reports total beneficial ownership levels excluding specified shares. The report is executed under power of attorney and signed on 08/19/2025, meeting filing formalities. No dispositions, sales, or new option grants are shown that would raise governance or liquidity concerns.

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
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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^*

Soto Alexandra

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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
Restricted Stock Units(1)	(2)	08/15/2025	08/15/2025	A		2,380		(3)	(3)	Common Stock	2,380	(2)	259,312(4)	D

Explanation of Responses:

1. Additional Restricted Stock Units ("RSUs") were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.

2. Each RSU represents a contingent right to receive one share of Common Stock.

3. Of these RSUs, 583 will vest on or around March 2, 2026, 864 will vest on or around March 1, 2027, and 933 will vest on or around March 1, 2028.

4. Amount excludes 113,872 shares of Common Stock directly or indirectly beneficially owned by the reporting person.

Remarks:

	/s/ Alexandra Soto by Shari L. Soloway under a P of A	08/19/2025
	** 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 Alexandra Soto report on the Form 4 for LAZ?

The Form 4 reports acquisition of 2,380 restricted stock units (RSUs) on 08/15/2025 via dividend-equivalent reinvestment, and beneficial ownership of 259,312 shares following the transaction.

How do the RSUs reported by the LAZ insider vest?

The filing states the 2,380 RSUs vest in three tranches: 583 around March 2, 2026; 864 around March 1, 2027; and 933 around March 1, 2028.

Does the Form 4 show any sales or market purchases by the reporting person?

No. The transaction code indicates these RSUs were acquired via dividend-equivalent reinvestment; there are no dispositions or open-market purchases listed.

Are all owned shares included in the reported beneficial ownership?

No. The filing explicitly states the reported total of 259,312 shares excludes 113,872 shares that the reporting person holds directly or indirectly.

When was the Form 4 signed and filed?

The signature block shows the Form 4 was signed under power of attorney on 08/19/2025.