[Form 4] Lazard, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael Gathy, Chief Accounting Officer of Lazard, Inc. (LAZ), reported a sale of 617 shares of Lazard common stock on 09/10/2025 at a price of $55.37 per share. After this transaction the filing reports 0 shares of common stock beneficially owned directly, with a disclosure that 9,258 restricted stock units (RSUs) are excluded from the reported count and remain directly or indirectly beneficially owned by the reporting person. The Form 4 was signed under power of attorney on 09/11/2025. The filing reflects a routine insider disposition rather than any additional transaction types or derivative activity.

Positive

• None.

Negative

• Insider sale of 617 shares at $55.37 by the Chief Accounting Officer, reducing reported direct common stock ownership to 0 shares

Insights

Financial Analyst

TL;DR: Insider sale of 617 shares at $55.37; transaction appears routine and not economically large relative to company scale.

The sale by the Chief Accounting Officer is clearly disclosed with amount and price. There are no derivative transactions reported and the post-transaction beneficially owned common stock is shown as zero, while 9,258 RSUs remain excluded from that count. From a financial-readout perspective this Form 4 documents a straightforward disposition and does not include indicators of broader insider activity such as option exercises, large block trades, or coordinated group filings.

Corporate Governance Expert

TL;DR: Single officer sale disclosed; governance controls appear followed given timely filing and POA signature.

The Form 4 is filed for a covered officer and lists the role (Chief Accounting Officer). The report was executed under a power of attorney and includes the explanatory note about RSUs. There is no amendment or additional schedule attached. The disclosure meets Section 16(a) requirements and raises no immediate governance red flags based on the information provided.

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^*

Gathy Michael

(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 Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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
Common Stock	09/10/2025		S		617	D	$55.37	0(1)	D

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

Explanation of Responses:

1. Amount excludes 9,258 Restricted Stock Units directly or indirectly beneficially owned by the reporting person.

Remarks:

	/s/ Michael Gathy by Shari L. Soloway under a P of A	09/11/2025
	** 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 Michael Gathy (LAZ) report on Form 4?

The filing reports a sale of 617 shares of Lazard common stock on 09/10/2025 at $55.37 per share.

How many shares does Michael Gathy beneficially own after the transaction?

The Form 4 shows 0 shares of common stock beneficially owned following the reported transaction, excluding 9,258 RSUs noted in the explanation.

Does the filing show any derivative transactions or option exercises?

No. Table II for derivative securities contains no reported transactions; only a non-derivative sale is disclosed.

When was the Form 4 filed and signed?

The transaction date is 09/10/2025 and the Form 4 was signed under power of attorney on 09/11/2025.

What is the reporting person’s role at Lazard?

The reporting person is listed as an Officer with the title Chief Accounting Officer.