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 2024.
+Added: The following table sets forth information regarding Lazard’s purchases of its common stock on a monthly basis during the first quarter of 2025.
Share repurchases are recorded on a trade date basis.
6 unchanged sentences
Under the Plans or
−Removed: July 1 – July 31, 2024
+Added: January 1 – January 31, 2025
Share Repurchase Program (1) 401,049 $ 48.25 401,049 $ 180.6 million
Employee Transactions (2) 2,169 $ 49.76 – –
−Removed: August 1 – August 31, 2024
+Added: February 1 – February 28, 2025
Share Repurchase Program (1) – $ – – $ 180.6 million
Employee Transactions (2) 901,084 $ 53.97 – –
−Removed: September 1 – September 30, 2024
+Added: March 1 – March 31, 2025
Share Repurchase Program (1) 372,906 $ 45.09 372,906 $ 163.8 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 as of September 30, 2024.
+Added: (1) The Board of Directors of Lazard authorized the repurchase of common stock as set forth in the table below as of March 31, 2025.
Date Repurchase
1 unchanged sentence
($ 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
−Removed: 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.
+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, as amended.
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: As of September 30, 2024, a total of $356 million of share repurchase authorization remained available under Lazard, Inc.’s share repurchase program, of which $156 million will expire on December 31, 2024 and $200 million will expire on December 31, 2026.
+Added: As of March 31, 2025, a total of $164 million of share repurchase authorization remained available under Lazard, Inc.’s share repurchase program, which will expire on December 31, 2026.
(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 September 30, 2024, the Company satisfied such obligations in lieu of issuing 57,911 shares of common stock upon the settlement of 425,650 of RSUs.
+Added: During the three month period ended March 31, 2025, the Company satisfied such obligations in lieu of issuing 1,805,468 shares of common stock upon the settlement of 4,279,900 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.