A Lazard (LAZ) Insider Sold 11,800 Shares for $474,000

Christopher Hogbin, CEO Asset Management at Lazard (NYSE:LAZ), reported the exercise of 48,332 options with an immediate sale of 11,829 shares of Common Stock across March 18 and March 19, 2026, according to a SEC Form 4 filing.

Transaction value based on SEC Form 4 weighted average purchase price ($40.04); post-transaction value based on March 19, 2026, market close ($39.25).

What was the structure and rationale for these transactions?The activity involved the exercise of 48,332 options, with 11,829 shares sold and 24,674 shares withheld for taxes—both actions reflecting direct management of equity compensation and liquidity needs.

How did this sale impact Hogbin’s ownership in Lazard?The transaction reduced Hogbin’s direct Common Stock holdings by 75.5% to 11,829 shares, though total beneficial ownership remains materially higher due to 260,989 RSUs outstanding.

Did the transaction involve any indirect ownership or related entities?No indirect holdings or entity-level transactions were reported; all shares traded and disposed of were held directly by Hogbin.

What is the ongoing exposure after the sale?Despite the sale of Common Stock, Hogbin’s continuing position comprises 11,829 shares directly plus 260,989 RSUs, which may convert to common stock and represent substantial potential future equity exposure.

* 1-year price performance calculated using March 27, 2026 as the reference date.

Offers financial advisory services, including M&A, restructurings, capital and shareholder advisory, as well as asset management solutions across equity, fixed income, and alternative investments.

Generates revenue through advisory fees and asset management fees, leveraging a dual-segment model focused on both strategic financial guidance and investment management.

Serves a global client base of corporations, governments, sovereign entities, institutions, endowments, and high-net-worth individuals.

Lazard operates as a leading global financial advisory and asset management firm, with a diversified revenue base and international presence. The company’s strategy centers on providing high-value advisory services and investment solutions to a broad array of institutional and governmental clients. Lazard’s competitive edge is rooted in its deep sector expertise and established client relationships across major global markets.