Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 125

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 4
Chunk 125
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 repurchases are recorded on a trade date basis.

PeriodTotalNumberof SharesPurchasedAveragePrice Paidper ShareTotal Numberof SharesPurchasedas Part ofPubliclyAnnouncedPlans orProgramsApproximateDollar Value ofShares that MayYet Be PurchasedUnder the Plans orProgramsJanuary 1 – January 31, 2025Share Repurchase Program (1)401,049$48.25 401,049$180.6 millionEmployee Transactions (2)2,169$49.76 –– February 1 – February 28, 2025Share Repurchase Program (1)–$– –$180.6 millionEmployee Transactions (2)901,084$53.97 –– March 1 – March 31, 2025Share Repurchase Program (1)372,906$45.09 372,906$163.8 millionEmployee Transactions (2)902,215$49.92 –– TotalShare Repurchase Program (1)773,955$46.73 773,955$163.8 millionEmployee Transactions (2)1,805,468$51.94 –– 

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(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.

DateRepurchaseAuthorizationExpiration($ in thousands)July 2024$200,000 December 31, 2026

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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. The rate at which the Company purchases shares in connection with the share repurchase program may vary from period to period due to a variety of factors. 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. 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