Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 149

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part II, Item 1A
Chunk 149
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Item 1A.   Risk Factors

There were no material changes from the risk factors previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds

None.

Issuer Repurchases of Equity Securities

The following table sets forth information regarding Lazard’s purchases of its common stock on a monthly basis during the third quarter of 2025. Share 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 orProgramsJuly 1 – July 31, 2025Share Repurchase Program (1)–$– –$160.1 millionEmployee Tax Withholding    Transactions (2)1,083$48.98  August 1 – August 31, 2025Share Repurchase Program (1)–$– –$160.1 millionEmployee Tax Withholding    Transactions (2)795$54.01  September 1 – September 30, 2025Share Repurchase Program (1)19,485$55.59 19,485$159.0 millionEmployee Tax Withholding    Transactions (2)204,205$57.16  TotalShare Repurchase Program (1)19,485$55.59 19,485$159.0 millionEmployee Tax Withholding    Transactions (2)206,083$57.10  ____________________

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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 September 30, 2025.

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

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, including those with employees. 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.