Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 235

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 235
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 stock outstanding - diluted102,392,17188,993,985100,997,674Net income (loss) attributable to Lazard per share of common stock:Basic$2.93 $(0.90)$3.68 Diluted$2.68 $(0.90)$3.51 _____________________(a)The aggregate weighted average number of incremental shares of common stock issuable from PIPRs for the year ended December 31, 2024 of 1,463,646 and from RSUs, PRSUs and PIPRs for the year ended December 31, 2023 of 4,779,627, that could be potentially dilutive in future periods, have been excluded from the computation of diluted net income (loss) per share as the effect would be antidilutive in the respective periods.

21.    RELATED PARTIES

Sponsored FundsThe Company serves as an investment advisor for certain affiliated investment companies and fund entities and receives management fees and, for the alternative investment funds, performance-based incentive fees for providing such services. Asset management fees relating to such services were $569,088, $538,457 and $592,985 for the years ended December 31, 2024, 2023 and 2022, respectively, and are included in “asset management fees” on the consolidated statements of operations. Of such amounts, $68,577 and $67,598 remained as receivables at December 31, 2024 and 2023, respectively, and are included in “fees receivable” on the consolidated statements of financial condition. Tax Receivable Agreement The Second Amended and Restated Tax Receivable Agreement, dated as of October 26, 2015 (the “TRA”), between Lazard and LTBP Trust, a Delaware statutory trust (the “Trust”), provides for the payment by our subsidiaries to the Trust of (i) approximately 45% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that we actually realize as a result of the increases in the tax basis of certain assets and of certain other tax benefits related to the TRA, and (ii) an amount that we currently expect will equal 85% of the cash tax savings that may 

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LAZARD, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)(dollars in thousands, except for per share data, unless otherwise noted