Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 33

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 33
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 growth; |

| • | cultivate a commercial and collegial culture to increase productivity; |

| • | recruit and retain key professionals across the entire Company; |

| • | emphasize cost discipline and make significant progress toward achieving the Company’s margin targets; |

| • | enhance communication to key investors, including highlighting the Company’s strategic objectives and accomplishments; |

| • | develop and deepen key client relationships and activities in support of the Financial Advisory business; |

| • | support the leadership of the Asset Management business in refining and focusing the business plan; and |

| • | recruit new members of the Company’s Board of Directors. |

2024 Total Incentive Compensation for Peter R. Orszag, Chief Executive Officer The Compensation Committee approved an incentive compensation award for Mr. Orszag of $14.1 million, comprised of PIPRs valued at approximately $10.2 million and an annual cash incentive bonus of approximately $3.9 million. As a result, performance-based compensation awarded to Mr. Orszag constituted approximately 94% of his total compensation for 2024. This resulted in total compensation of $15 million, which is at the midpoint of the CEO market reference range.

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TABLE OF CONTENTS

| Proxy   
 Summary |     | Governance |     | Executive    
 Compensation |     | Audit   
 Matters |     | Shareholder 
 Proposals   |     | General     
 Information |

The following chart shows Mr. Orszag’s mix of fixed versus performance-based compensation for 2024. By linking 68% of Mr. Orszag’s total compensation for 2024 directly to the future performance of our business through PIPRs, the substantial majority of Mr. Orszag’s compensation for 2024 will fluctuate based on our ability to achieve growth and produce value for our shareholders over the next three years. In addition, the majority of Mr. Orszag’s 2024 performance-based incentive compensation provides a strong retention incentive — because the PIPRs require him to remain employed through March 15, 2028, subject to certain limited exceptions, including retirement — which the Compensation Committee considers imperative in driving company-wide performance and increasing value to shareholders. Through the combination of base salary, annual cash incentive bonus and PIPRs awarded to Mr. Orszag for 2024, the Compensation Committee believes it has achieved an appropriate balance between paying for current performance and incentivizing Mr. Orszag to remain focused on the Company’s long-term performance and continued growth