Christopher Hogbin, executive director of asset management at Lazardo (NYSE: LAZ)reported the exercise of 48,332 options with an immediate sale of 11,829 shares of common stock between March 18 and 19, 2026, according to an SEC Form 4 filing.
|
Metric |
Worth |
|---|---|
|
Shares sold (direct) |
11,829 |
|
Shares withheld for taxes (direct) |
24,674 |
|
Transaction value |
~$474K |
|
Post-transaction actions (direct) |
11,829 |
|
Post-transaction actions (indirect) |
0 |
|
Post-transaction value (direct ownership) |
~$471K |
Transaction value based on SEC Form 4 weighted average purchase price ($40.04); post-transaction value based on market close on March 19, 2026 ($39.25).
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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 reflect the direct management of capital compensation and liquidity needs. -
How did this sale affect Hogbin’s ownership in Lazard?
The transaction reduced Hogbin’s direct common stock holdings by 75.5% to 11,829 shares, although total beneficial ownership remains materially higher due to the 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 in the direct hands of 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 can be converted into common shares and represent substantial potential equity exposure in the future.
|
Metric |
Worth |
|---|---|
|
Revenue (TTM) |
$3.21 billion |
|
Net income (TTM) |
$245.1 million |
|
Dividend yield |
5.1% |
|
1 year price change |
-12.7% |
*1-year price evolution calculated using March 27, 2026 as a reference date.
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It offers financial advisory services, including mergers and acquisitions, restructurings, equity and shareholder advisory, as well as asset management solutions across equities, fixed income and alternative investments.
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It generates revenue through advisory fees and asset management fees, leveraging a dual-segment model focused on both strategic financial guidance and investment management.
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It 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 focuses on providing high-value investment solutions and advisory services to a wide range of institutional and government clients. Lazard’s competitive advantage is based on its deep industry experience and established customer relationships in major global markets.