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 first quarter of 2024.
+Added: The following table sets forth information regarding Lazard’s purchases of its common stock on a monthly basis during the second quarter of 2024.
Share repurchases are recorded on a trade date basis.
6 unchanged sentences
Under the Plans or
−Removed: January 1 – January 31, 2024
+Added: April 1 – April 30, 2024
Share Repurchase Program (1) 441,221 $ 38.27 441,221 $ 161.2 million
Employee Transactions (2) 8,476 $ 41.86 – –
−Removed: February 1 – February 29, 2024
+Added: May 1 – May 31, 2024
Share Repurchase Program (1) 50,000 $ 38.53 50,000 $ 159.3 million
Employee Transactions (2) 10,450 $ 41.37 – –
−Removed: March 1 – March 31, 2024
+Added: June 1 – June 30, 2024
Share Repurchase Program (1) – $ – – $ 159.3 million
3 unchanged sentences
_______________________
−Removed: (1) 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 as of June 30, 2024.
Date Repurchase
3 unchanged sentences
July 2022 $ 500,000 December 31, 2024
−Removed: 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.
+Added: 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 2018 Plan.
Purchases under the share repurchase program may be made in the open market or through privately negotiated transactions.
1 unchanged sentence
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: (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 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.
+Added: As of June 30, 2024, a total of $159 million of share repurchase authorization remained available under Lazard, Inc.’s share repurchase program.
+Added: In addition, on July 24, 2024, the Board of Directors authorized the repurchase of up to $200,000 of additional shares of common stock, which authorization will expire on December 31, 2026, bringing the total share repurchase authorization as of July 24, 2024 to approximately $360,000.
+Added: (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.
+Added: During the three month period ended June 30, 2024, the Company satisfied such obligations in lieu of issuing 147,498 shares of common stock upon the settlement of 290,313 of RSUs.
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.