16 unchanged sentences
Share Repurchase Program (1) 125,317 $ 48.68 125,317 $ 152.9 million
−Removed: Employee Transactions (2) 236 $ 50.43
+Added: Employee Tax Withholding
+Added: Transactions (2) 1,685 $ 50.00
November 1 – November 30, 2025
Share Repurchase Program (1) 441,315 $ 48.17 441,315 $ 131.6 million
−Removed: Employee Transactions (2) 104 $ 50.90
+Added: Employee Tax Withholding
+Added: Transactions (2) 68 $ 48.80
December 1 – December 31, 2025
Share Repurchase Program (1) 451,217 $ 50.18 451,217 $ 109.0 million
−Removed: Employee Transactions (2) 2,419 $ 57.61
+Added: Employee Tax Withholding
+Added: Transactions (2) 5,595 $ 50.59
Share Repurchase Program (1) 1,017,849 $ 49.12 1,017,849 $ 109.0 million
−Removed: Employee Transactions (2) 2,759 $ 56.75
+Added: Employee Tax Withholding
+Added: Transactions (2) 7,348 $ 50.44
______________________
3 unchanged sentences
($ in thousands)
−Removed: February 2022 $ 300,000 December 31, 2024
July 2024 $ 200,000 December 31, 2026
−Removed: July 2024 $ 200,000 December 31, 2026
The Company’s purchases under the share repurchase program over time are used to offset dilution from the shares that have been or will be issued under the Company’s 2018 Incentive Compensation Plan, as amended (the “2018 Plan”).
−Removed: Purchases under the share repurchase program may be made in the open market or through privately negotiated transactions.
+Added: Purchases under the share repurchase program may be made in the open market or through privately negotiated transactions, including those with employees.
The rate at which the Company purchases shares in connection with the share repurchase program may vary from period to period due to a variety of factors.
−Removed: Amounts shown in this line item include repurchases of common stock and exclude the shares of common stock withheld by the Company to meet the minimum statutory tax withholding requirements as described below.
−Removed: As of December 31, 2024, a total of $200 million of share repurchase
−Removed: authorization remained available under Lazard, Inc.’s share repurchase program which will expire on December 31, 2026.
−Removed: (2) Under the terms of the 2018 Plan, upon the settlement of RSUs and PRSUs, shares of common stock may be withheld by the Company to meet the minimum statutory tax withholding requirements.
−Removed: During the three month period ended December 31, 2024, the Company satisfied such obligations in lieu of issuing (i) 2,759 shares of common stock upon the settlement of 5,836 RSUs.
−Removed: (3) Reflects expiration of $140.6 million share repurchase authorization on December 31, 2024.
+Added: Amounts shown in this line item
+Added: include repurchases of common stock and exclude the shares of common stock withheld by the Company to meet the minimum statutory tax withholding requirements as described below.
+Added: As of December 31, 2025, a total of $109 million of share repurchase authorization remained available under Lazard, Inc.’s share repurchase program which will expire on December 31, 2026.
+Added: (2) Under the terms of the 2018 Plan, upon the settlement of RSUs, shares of common stock may be withheld by the Company to meet the minimum statutory tax withholding requirements.
+Added: During the three month period ended December 31, 2025, the Company satisfied such obligations in lieu of issuing 7,348 shares of common stock upon the settlement of 34,813 RSUs.
Equity Compensation Plan Information
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.