Lazard, Inc.
For the period ended Apr 7, 2026. Filed Apr 7, 2026.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Apr 7, 2026 · Filed Apr 7, 2026
Contents
COMPENSATION DISCUSSION & ANALYSIS
This Compensation Discussion and Analysis describes our executive compensation philosophy, objectives and the elements
of compensation paid to our NEOs and also explains the process by which our Compensation Committee makes executive
compensation decisions. Our executive compensation program aims to motivate, reward and retain our management, support
our strategic objectives, and advance the long-term interests of our shareholders.
SPOTLIGHT ON SHAREHOLDER ENGAGEMENTWe place a high priority on constructive, ongoing dialogue with our shareholders. Shareholder feedback from both our regular and off‑cycle engagement directly shaped the enhancements made to our NEO compensation program. For additional detail, please read carefully Shareholder Outreach and Feedback on pages 43-44 and How We Have Addressed Shareholder Feedback on Our Compensation Program on pages 57-58.
Our Named Executive Officers
Our NEOs for 2025 are:
| Peter R. OrszagChief Executive OfficerYears in Role: >2 | Mary Ann Betsch(1)Former Chief Financial OfficerYears in Role: >3 | Christopher HogbinCEO of Asset ManagementYears in Role: <1 |
| Evan L. Russo(2)Former CEO of Asset ManagementYears in Role: >3 | Alexandra SotoChief Operating OfficerYears in Role: >2 | Christian A. WeidemanGeneral CounselYears in Role: >2 |
(1)In February 2026, Ms. Betsch transitioned from her role as Chief Financial Officer to a senior advisor position.
(2)In December 2025, Mr. Russo transitioned from his role as Chief Executive Officer of Lazard’s asset management business to a senior
advisor position.
CD&A Table of Contents
| Our Strong 2025 Performance | 55 |
|---|---|
| How We Have Addressed Shareholder Feedback on Our Compensation Program | 57 |
| Our CEO’s 2025 Compensation is Aligned with Lazard’s Performance | 59 |
| Our Compensation Program Philosophy and Objectives | 60 |
| Our Compensation Process | 61 |
| Our 2026 NEO Compensation Program | 75 |
| Executive Compensation Tables | 79 |
| CEO Pay Ratio | 88 |
| Pay Versus Performance | 89 |
| 2026 Proxy Statement | 55 |
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| About Lazard | Proxy Summary | Item 1 - Election of Directors | Corporate Governance | Item 2 - Executive Compensation | Item 3 - Declassification of Board | Item 4 - Incentive Compensation Plan | Item 5 - Ratification of Independent Auditors | Stock Ownership Information | General Information |
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Our Strong 2025 Performance
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.