Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 86

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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dollars in thousands, except for per share data, 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 six month periods ended June 30, 2025 and 2024 are presented below:Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Net income attributable to Lazard$55,346 $49,909 $115,721 $85,664 Adjustment for earnings attributable to participating securities(904)(873)(2,713)(2,152)Net income attributable to Lazard - basic54,442 49,036 113,008 83,512 Adjustment for earnings attributable to participating securities– 206 – 401 Net income attributable to Lazard - diluted$54,442 $49,242 $113,008 $83,913 Weighted average number of shares of common stock outstanding94,242,23190,172,32592,776,70989,360,041Weighted average number of shares of common stock issuable on a non-contingent basis3,292,0882,714,0393,618,1622,713,373Weighted average number of shares of common stock outstanding - basic97,534,31992,886,36496,394,87192,073,414Weighted average number of incremental shares of common stock issuable from share-based incentive compensation (a)7,377,3147,741,5038,475,3227,916,403Weighted average number of shares of common stock outstanding - diluted104,911,633 100,627,867 104,870,193 99,989,817 Net income attributable to Lazard per share of common stock:Basic$0.56 $0.53 $1.17 $0.91 Diluted$0.52 $0.49 $1.08 $0.84 __________________________________

(a)The aggregate weighted average number of incremental shares of common stock issuable from PIPRs for the three month and six month periods ended