Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 29

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 29
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 the applicable grant date anniversary and achieving the stock price milestones as follows:

| • | 20% vests if the Company’s stock price appreciates to $43.10 by August 2026 (representing a 25% increase above the grant date stock price); |

| • | 40% vests if the Company’s stock price appreciates to $51.72 by August 2028 (representing a 50% increase above grant date stock price); and |

| • | the remainder vests if the Company’s stock price appreciates to $68.96 by August 2030 (representing a 100% increase above the grant date stock price). |

For a tranche to vest, the applicable stock price milestone must be sustained for any 30 consecutive trading day period, which is approximately six calendar weeks, prior to the applicable anniversary of the grant date. If the vesting conditions applicable to a tranche are not achieved during the applicable timeframe, all Stock Price PRPUs in that tranche are forfeited. In 2024, the stock price milestones were achieved on the first two tranches. However, each tranche remains subject to the service-based vesting condition described above, requiring the executive’s continued service throughAugust 2026 and 2028, respectively, in order to earn the tranche. 2024 Compensation for Each of Our NEOs—Compensation Process The Compensation Committee generally makes decisions regarding NEO incentive compensation in the first quarter of each year, which are based on performance of the Company and individual NEOs in the prior fiscal year. The Compensation Committee engages in a comprehensive discussion of goals and objectives for each NEO at the beginning of the year to establish clear metrics to evaluate performance. The Committee assesses progress against these goals and objectives throughout the year. Our Compensation Committee Utilizes a Structured Decision-Making Process Our Compensation Committee reviews compensation programs for consistency and alignment with our financial and strategic goals, and has full authority to determine and approve the compensation of our CEO, Mr. Orszag, and our other NEOs. The Compensation Committee determines the total compensation package to be awarded to Mr. Orszag and Mr. Orszag makes recommendations to the Compensation Committee as to the total compensation package to be awarded to our other NEOs. Mr. Orszag does not participate in sessions of the Compensation Committee at which his own compensation is determined; however, he does participate in sessions at which the compensation of the other NEOs is discussed. Our Compensation Committee Considers a Variety of Available