Lazard director receives 857 deferred stock units

Lazard, Inc. director Andrew M. Alper received 857 Deferred Stock Units (DSUs) as a compensation grant.

Rhea-AI Filing Summary

Lazard, Inc. director Andrew M. Alper received 857 Deferred Stock Units (DSUs) as a compensation grant. These DSUs were awarded on May 15, 2026 at a stated price of $0.00 per unit and increase his directly held DSU balance to 99,706 units. Under his annual election, these DSUs are received in lieu of cash fees and will convert into an equal number of Lazard common shares on a one-for-one basis after he leaves the board.

Insider Trade Summary

Grant/Award: 857 shares

Grant/Award 1 txn

Insider Alper Andrew M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	857	$0.00	$0.00

Holdings After Transaction: Deferred Stock Units — 99,706 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: 857 units Grant price per unit: $0.00 DSUs held after grant: 99,706 units +1 more

4 metrics

Deferred Stock Units granted 857 units Director compensation grant on May 15, 2026

Grant price per unit $0.00 Stated transaction price for DSU award

DSUs held after grant 99,706 units Total Deferred Stock Units directly held post-transaction

Conversion ratio 1 DSU : 1 share DSUs convert one-for-one into Lazard common stock

Key Terms

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

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 arrangement financial

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

one-for-one basis financial

"The DSUs will be converted into Common Stock on a one-for-one basis following the date that the reporting person resigns"

FAQ

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

What did Lazard (LAZ) director Andrew M. Alper report on this Form 4?

Andrew M. Alper reported receiving 857 Deferred Stock Units as director compensation. These units are part of his annual election to take fees in equity instead of cash, increasing his total directly held DSUs to 99,706 units tied to Lazard common stock.

How many Deferred Stock Units did Andrew M. Alper receive from Lazard (LAZ)?

He received 857 Deferred Stock Units in this transaction. The Form 4 shows these DSUs were granted as compensation at a stated price of $0.00 per unit and are linked one-for-one to Lazard common stock upon future conversion.

Are the Lazard (LAZ) Deferred Stock Units a market purchase by the director?

No, the 857 Deferred Stock Units are a compensation grant, not a market purchase. The filing describes them as an annual election to receive DSUs in lieu of cash fees under Lazard’s non-executive director compensation arrangement and 2018 Incentive Compensation Plan.

When will Andrew M. Alper’s Lazard (LAZ) DSUs convert into common stock?

The Deferred Stock Units will convert into Lazard common stock after he leaves the board. The filing states they convert on a one-for-one basis following the date he resigns from, or otherwise ceases to be a member of, Lazard’s Board of Directors.

How many Lazard (LAZ) Deferred Stock Units does Andrew M. Alper hold after this filing?

After this grant, he holds 99,706 Deferred Stock Units directly. This total includes the newly awarded 857 DSUs and represents his accumulated compensation elections that are each linked to one future Lazard common share on conversion.

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

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Accepted by SEC EDGAR 05/19/2026 - 04:56 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^*

Alper Andrew M

(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		857		(2)	(2)	Common Stock	857	$0	99,706	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/ Andrew M. Alper 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)