Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 36

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 36
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, further aligning the interests of our NEOs with those of our shareholders. See “Stock Price PRPUs—Retention through 2030 and Alignment with the Lazard 2030 Strategic Plan” above for further details on these historical awards. In early 2025, the Compensation Committee evaluated the Company’s performance with respect to the applicable three-year performance periods to which the PRUs awarded in 2022 in respect of 2021 compensation were subject. The Compensation Committee determined by formula that the underlying performance conditions had been satisfied and achieved an aggregate score of 1.78x and, accordingly, the corresponding number of shares of our common stock subject to such awards was no longer subject to such performance goals. Other Elements of the Compensation Program The Company also provides NEOs with limited additional benefits as generally described below. These additional benefits are not intended to comprise a significant portion of the aggregate compensation of our NEOs. Retirement Benefits . During 2024, our U.S.-based NEOs were eligible to participate in the Company’s 401(k) tax-qualified defined contribution plan, pursuant to which employees may contribute eligible compensation up to the limits imposed by the Internal Revenue Service. In 2024, Lazard made matching contributions on the NEOs’ personal contributions to the Company’s 401(k) plan on the same basis that it does for all U.S. employees (up to a maximum of $13,800). Ms. Soto was eligible to participate in the Company’s defined contribution pension scheme for employees in the United Kingdom, pursuant to which the Company made matching contributions on the same basis as for other UK employees. Other Benefits . In 2024, each of our NEOs received certain benefits that are considered to be “perquisites” for purposes of the SEC rules regarding executive compensation disclosure. These additional benefits, which for 2024 included the payment by the Company of supplemental health benefits to each of Messrs. Orszag and Jacobs, certain tax preparation services (which benefit is available to all U.S. managing directors and UK managing directors) and access to an executive dining room that is available to certain of our managing directors in the New York City area, did not represent a significant portion of the NEOs’ compensation for 2024. Other Practices, Policies and Guidelines Stock Ownership Guidelines . We have stock ownership guidelines for our NEOs, which require our CEO and the other NEOs to own shares of our common stock (including restricted stock) or unvested time-based equity awards that could be settled in shares