1 unchanged sentence
Issuer Repurchases of Equity Securities
−Removed: The following table sets forth information regarding Lazard’s purchases of its common stock on a monthly basis during the third quarter of 2023.
+Added: The following table sets forth information regarding Lazard’s purchases of its common stock on a monthly basis during the first quarter of 2024.
Share repurchases are recorded on a trade date basis.
6 unchanged sentences
Under the Plans or
−Removed: July 1 – July 31, 2023
+Added: January 1 – January 31, 2024
Share Repurchase Program (1) – $ – – $ 200.1 million
Employee Transactions (2) – $ – – –
−Removed: August 1 – August 31, 2023
+Added: February 1 – February 29, 2024
Share Repurchase Program (1) – $ – – $ 200.1 million
Employee Transactions (2) 615,392 $ 38.55 – –
−Removed: September 1 – September 30, 2023
+Added: March 1 – March 31, 2024
Share Repurchase Program (1) 564,692 $ 38.97 564,692 $ 178.1 million
3 unchanged sentences
_______________________
−Removed: (1) Since 2021 and through the nine months ended September 30, 2023, the Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below.
+Added: (1) The Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below.
Date Repurchase
1 unchanged sentence
($ in thousands)
−Removed: April 2021 $ 300,000 December 31, 2022
February 2022 $ 300,000 December 31, 2024
July 2022 $ 500,000 December 31, 2024
−Removed: A significant portion of the Company’s purchases under the share repurchase program are used to offset a portion of the shares that have been or will be issued under the 2018 Plan.
+Added: The Company’s purchases under the share repurchase program over time are used to offset most or all of the shares that have been or will be issued under the 2018 Plan.
Purchases under the share repurchase program may be made in the open market or through privately negotiated transactions.
−Removed: The rate at which the Company purchases shares in connection with the share repurchase program may vary from quarter to quarter due to a variety of factors.
+Added: 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.
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.
(2) Under the terms of the 2018 Plan, upon the settlement of RSUs, PRSUs, DSUs and delivery of restricted stock, 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 September 30, 2023, the Company satisfied such obligations in lieu of issuing (i) 82,980 shares of common stock upon the settlement of 526,754 RSUs and (ii) 66,282 shares of common stock upon the delivery of 186,923 shares of restricted stock.
+Added: During the three month period ended March 31, 2024, the Company satisfied such obligations in lieu of issuing (i) 1,269,715 shares of common stock upon the settlement of 3,091,866 RSUs and PRSUs and (ii) 173,767 shares of common stock upon the delivery of 411,988 shares of restricted stock.
Defaults Upon Senior Securities
2 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.