Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 228

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part II, Item 8
Chunk 228
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 unless otherwise noted)

17.    NET INCOME PER SHARE OF COMMON STOCK

The Company is required to utilize the “two-class” method of computing basic and diluted net income per share because the Company issued certain PIPRs, including certain P-PIPRs, which are treated as participating securities. The Company’s basic and diluted net income per share calculations using the “two-class” method for the three month and nine month periods ended September 30, 2025 and 2024 are presented below:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Net income attributable to Lazard$71,247 $107,938 $186,968 $193,602 Adjustment for earnings attributable to participating securities(1,555)(2,579)(4,269)(4,732)Net income attributable to Lazard - basic69,692 105,359 182,699 188,870 Adjustment for earnings attributable to participating securities– 463 – 864 Net income attributable to Lazard - diluted$69,692 $105,822 $182,699 $189,734 Weighted average number of shares of common stock outstanding94,527,248 90,276,29493,360,22289,665,458Weighted average number of shares of common stock issuable on a non-contingent basis3,585,145 3,351,1823,607,1572,925,977Weighted average number of shares of common stock outstanding - basic98,112,393 93,627,47696,967,37992,591,435Weighted average number of incremental shares of common stock issuable from share-based incentive compensation (a)9,889,369 9,847,7588,946,6718,560,189Weighted average number of shares of common stock outstanding - diluted108,001,762 103,475,234105,914,050101,151,624Net income attributable to Lazard per share of common stock:Basic$0.71 $1.13 $1.88 $2.04 Diluted$0.65 $1.02 $1.72 $1.88 __________________________________

(a)The aggregate weighted average number of incremental shares of common stock issuable from PIPRs for the three month and nine month periods ended September 30, 202