Lazard director granted 103 deferred stock units

Q: What insider transaction was reported at Lazard, Inc. (LAZ) on this Form 4?

Director Stephen R. Howe Jr. was granted 103 Deferred Stock Units (DSUs). The DSUs were received as part of his non-executive director compensation and increase his directly held DSU balance to 14,843 units.

Q: How many Deferred Stock Units does the reporting person now hold at Lazard (LAZ)?

After this grant, the reporting person directly holds 14,843 Deferred Stock Units. These DSUs represent a right to receive an equivalent number of Lazard, Inc. Common Shares when he leaves the Board of Directors.

Q: What are Deferred Stock Units (DSUs) in the context of Lazard, Inc. (LAZ)?

For Lazard, Inc., Deferred Stock Units are awards that track Common Stock and are granted under the 2018 Incentive Compensation Plan. In this case, they are elected in lieu of cash director compensation and convert one-for-one into Common Stock when Board service ends.

Q: When will the DSUs granted to the Lazard (LAZ) director convert into Common Stock?

The 103 DSUs granted will convert into Lazard, Inc. Common Stock on a one-for-one basis. Conversion occurs after the reporting person resigns from, or otherwise ceases to be, a member of Lazard’s Board of Directors.

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.

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Rhea-AI Filing Summary

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.

Insider Trade Summary

Grant/Award: 103 shares

Grant/Award 1 txn

Insider Howe Stephen R. Jr.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units ^{F1, F2}	103	$0.00	$0.00

Holdings After Transaction: Deferred Stock Units — 14,843 contracts (Direct)

Footnotes (2)

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.
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

DSUs granted: 103 units DSUs following transaction: 14,843 units Conversion ratio: 1 DSU = 1 share of Common Stock +1 more

4 metrics

DSUs granted 103 units Grant of Deferred Stock Units to director on 2026-08-17

DSUs following transaction 14,843 units Total Deferred Stock Units directly held by reporting person after grant

Conversion ratio 1 DSU = 1 share of Common Stock DSUs convert into Common Stock on a one-for-one basis upon end of Board service

Transaction price per DSU $0.0000 Reported grant/award acquisition price for the 103 DSUs

Key Terms

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

3 terms

Deferred Stock Units financial

"The reporting person has made an annual election to receive Deferred Stock Units"

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"

Non-Executive Director Compensation arrangement financial

"cash compensation payable pursuant to the Non-Executive Director Compensation arrangement"

FAQ

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

What insider transaction was reported at Lazard, Inc. (LAZ) on this Form 4?

Director Stephen R. Howe Jr. was granted 103 Deferred Stock Units (DSUs). The DSUs were received as part of his non-executive director compensation and increase his directly held DSU balance to 14,843 units.

How many Deferred Stock Units does the reporting person now hold at Lazard (LAZ)?

After this grant, the reporting person directly holds 14,843 Deferred Stock Units. These DSUs represent a right to receive an equivalent number of Lazard, Inc. Common Shares when he leaves the Board of Directors.

What are Deferred Stock Units (DSUs) in the context of Lazard, Inc. (LAZ)?

For Lazard, Inc., Deferred Stock Units are awards that track Common Stock and are granted under the 2018 Incentive Compensation Plan. In this case, they are elected in lieu of cash director compensation and convert one-for-one into Common Stock when Board service ends.

When will the DSUs granted to the Lazard (LAZ) director convert into Common Stock?

The 103 DSUs granted will convert into Lazard, Inc. Common Stock on a one-for-one basis. Conversion occurs after the reporting person resigns from, or otherwise ceases to be, a member of Lazard’s Board of Directors.

Did Lazard, Inc. (LAZ) director compensation involve cash in this reported transaction?

In this transaction, the director made an annual election to receive DSUs in lieu of cash compensation. The reported award replaces all or part of the non-executive director cash compensation with equity-based deferred units.

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

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Available on EDGAR 08/19/2026 - 05:46 PM Accepted by SEC EDGAR 08/19/2026 - 05:45 PM

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

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)
08/17/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Stock Units⁽¹⁾	$0⁽²⁾	08/17/2026		A		103		⁽²⁾	⁽²⁾	Common Stock	103	$0	14,843	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	08/19/2026
	** 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)

Source: View Original Filing on SEC EDGAR