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Lazard, Inc. — Director's Dealing 2016
Feb 25, 2016
31019_dirs_2016-02-25_45553071-e940-48a7-aa96-4e8b07544cbb.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2016-02-24
Reporting Person: JACOBS KENNETH M (Director, Chairman and CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2016-02-24 | Restricted Class A common stock | M | 63822 | — | Acquired | 192498 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-02-24 | Performance-based Restricted Stock Units | $ | A | 63822 | Acquired | Class A common stock (63822) | Direct | |
| 2016-02-24 | Performance-based Restricted Stock Units | $ | M | 63822 | Disposed | Restricted Class A common stock (63822) | Direct |
Footnotes
F1: As discussed in the Company's 2015 proxy statement, the reporting person would have become eligible for retirement under the Company's RSU Retirement Policy in September 2014. However, the reporting person voluntarily agreed to waive his rights to be treated as retirement eligible in September 2014 for purposes of his Restricted Stock Units ("RSUs") and Performance-based Restricted Stock Units ("PRSUs"). Instead, the reporting person will not become retirement eligible until his current retention agreement with the Company expires on March 31, 2016. As a result of the foregoing, certain PRSUs previously granted to the reporting person (for which the performance conditions have been satisfied) have now become subject to taxation and have been settled in the form of Restricted Class A common stock, which remains subject to vesting until the applicable service requirements are satisfied.
F2: Amount excludes 1,246,139 shares of Class A common stock directly or indirectly beneficially owned by the reporting person.
F3: Represents prior grants of PRSUs awarded with respect to compensation for 2013 and 2014 for which performance conditions have been satisfied. These grants were previously reflected in Lazard Ltd's proxy statements for the relevant years.
F4: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A common stock of Lazard Ltd.