Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 32

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 32
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 ensure that the Company would have the services of each of the NEOs during the term of their respective individual agreements. In 2024, the base salary paid to our CEO was $900,000 and to each other NEO was $750,000. 2024 Performance-based Incentive Compensation . The Compensation Committee considered the Company’s strong results in 2024 and successful execution of our long-term growth strategy. The Company had adjusted net revenue of $2,890 million in 2024, 18% higher than adjusted net revenue in 2023, adjusted net income of $244 million and adjusted earnings per share, diluted, of $2.34, significantly higher than, respectively, adjusted net income of $75 million and adjusted earnings per share, diluted, of $0.77 in 2023. The Company also returned $303 million of capital to its shareholders in 2024, including $179 million in dividends, $60 million in share repurchases to offset dilution as a result of deferred year-end equity

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TABLE OF CONTENTS

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 Compensation |     | Audit   
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incentive compensation, and $64 million in satisfaction of employee tax obligations in lieu of share issuances upon vesting of equity grants. As highlighted in the “Awarded Compensation Table” below, the Compensation Committee’s determinations with respect to 2024 performance-based incentive compensation took into account, as applicable, the performance of the Financial Advisory and Asset Management businesses. 2024 Individual Performance Considerations for Peter R. Orszag, Chief Executive Officer In evaluating Mr. Orszag’s compensation, the Compensation Committee highlighted his successful first full year as CEO. The Committee noted the Company’s strong financial results (especially with respect to the Financial Advisory business), the considerable progress towards achieving the goals of the Lazard 2030 Strategic Plan, and the significant value delivered for shareholders (including a 55% TSR for 2024). The Compensation Committee also considered the reference range described above based on the peer group data (or subset thereof), which for Mr. Orszag was $12.0 million to $18.0 million. In addition, the Compensation Committee considered Mr. Orszag’s individual contributions in determining his total compensation in 2024, including his efforts to:

| • | set a clear overall strategic direction of the Company with a focus on