Lazard (LAZ) director Daniel Schulman granted 4,358 Deferred Stock Units as board compensation

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

SCHULMAN DANIEL H reported acquisition or exercise transactions in this Form 4 filing.

Lazard, Inc. director Daniel H. Schulman received 4,358 Deferred Stock Units (DSUs) as a compensation award. The DSUs were granted under Lazard’s 2018 Incentive Compensation Plan as part of the non-executive director compensation. Following this grant, he holds 15,037 DSUs, each convertible into one share of common stock after he leaves the board.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SCHULMAN DANIEL H

Role null

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	4,358	$0.00	--

Holdings After Transaction: Deferred Stock Units — 15,037 shares (Direct, null)

Footnotes (1)

Deferred Stock Units ("DSUs") were awarded under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended, as part of the Non-Executive Director Compensation arrangement. 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: 4,358 units DSUs after transaction: 15,037 units Grant price per DSU: $0.00 +1 more

4 metrics

Deferred Stock Units granted 4,358 units Grant under 2018 Incentive Compensation Plan on 2026-06-01

DSUs after transaction 15,037 units Total Deferred Stock Units held following grant

Grant price per DSU $0.00 Compensation award, not open-market purchase

Conversion ratio 1 DSU : 1 share DSUs convert into common stock after board service ends

Key Terms

Deferred Stock Units, 2018 Incentive Compensation Plan, Non-Executive Director Compensation, Form 4

4 terms

Deferred Stock Units financial

"Deferred Stock Units ("DSUs") were awarded 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

"DSUs were awarded under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended"

Non-Executive Director Compensation financial

"as part of the Non-Executive Director Compensation arrangement"

Form 4 regulatory

"This Form 4 reports a grant of Deferred Stock Units to a director"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

06/03/2026 - 04:38 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^*

SCHULMAN DANIEL H

(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)
06/01/2026

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⁾	06/01/2026	06/01/2026	A		4,358		⁽²⁾	⁽²⁾	Common Stock	4,358	$0	15,037	D

Explanation of Responses:

1. Deferred Stock Units ("DSUs") were awarded under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended, as part of 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/ Daniel H. Schulman by Shari L. Soloway under a P of A	06/03/2026
	** 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

FAQ

What insider transaction did Lazard (LAZ) director Daniel Schulman report?

Daniel H. Schulman reported receiving 4,358 Deferred Stock Units as a compensation award. These units were granted under Lazard’s 2018 Incentive Compensation Plan as part of the non-executive director compensation, rather than being purchased in the open market.

How many Lazard (LAZ) Deferred Stock Units does Daniel Schulman hold after this Form 4?

After this grant, Daniel H. Schulman holds 15,037 Deferred Stock Units. This total reflects his position in Lazard equity-based compensation tied to Deferred Stock Units rather than directly held common shares, as disclosed in the Form 4 filing.

When will Daniel Schulman’s Lazard (LAZ) Deferred Stock Units convert into common stock?

The Deferred Stock Units convert into Lazard common stock on a one-for-one basis after Daniel H. Schulman resigns from, or otherwise ceases to be a member of, Lazard’s Board of Directors, according to the terms disclosed in the Form 4 footnotes.

Are Daniel Schulman’s Lazard (LAZ) Deferred Stock Units an open‑market stock purchase?

No, the 4,358 Deferred Stock Units reported are a compensation grant, not an open‑market purchase. They were awarded under Lazard’s 2018 Incentive Compensation Plan as part of the non‑executive director compensation arrangement, with a stated grant price of $0.00 per unit.

What does the transaction code “A” mean in Daniel Schulman’s Lazard (LAZ) Form 4?

The transaction code “A” indicates a grant, award, or other acquisition of derivative securities. In this case, Daniel H. Schulman received 4,358 Deferred Stock Units as a compensation award, rather than buying or selling Lazard shares in the open market.