Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 13

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 13
---
 the relevant portions of such meetings, when it would not be appropriate for our CEO and Chairman to preside.

| Page 12 |

TABLE OF CONTENTS

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

Shareholder Engagement We highly value engagement with our shareholders and maintain an active dialogue through individual and group meetings as well as participation in investment conferences that are webcast and posted to our website. We engage with our shareholders and potential investors throughout the year on a wide variety of topics, such as business strategy, market conditions, financial performance, competitive landscape, capital allocation, regulatory and governance changes, geopolitical insights, and environmental and social responsibility. We conduct significant outreach each year following the distribution of our annual proxy. We value our shareholders’ opinions and continually take into consideration their feedback as part of our ongoing evaluation of our executive compensation programs. Our strong foundation of shareholder engagement has resulted in proactive changes over the years to our governance policies and compensation program based on shareholder feedback, such as implementing a tenure policy for independent directors to enhance Board refreshment by limiting independent directors to serving four complete terms (plus any partial term), and making significant enhancements to the performance metrics applicable to our NEOs’ outstanding performance-based long-term incentive awards to better align their compensation with the interests of our shareholders.

| Page 13 |

TABLE OF CONTENTS

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

Shareholder Feedback on Executive Compensation Our Compensation Committee focused on the feedback received from shareholders regarding executive compensation-related matters during our outreach in 2024. We have a long history of shareholder support and positive outcomes on say-on-pay votes, but we were disappointed in our say-on-pay outcome in 2024. The Company and the Compensation Committee undertook additional steps beyond our typical extensive outreach efforts to understand our shareholders’ concerns. We extended meeting invitations to approximately 75% of our institutional shareholders and met with 100% of those who requested to meet with us, including shareholders representing approximately 60% of our institutional shares. In 2024, the Chair of the Compensation Committee participated in 90% of the proxy engagements with our top 25 institutional shareholders. The feedback we received was shared with our Board. A summary of the key areas of the feedback we received in recent years and our response is summarized below. Over