secwatch.observer — SEC 8-K summary
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Issuer:     Lazard, Inc. (LAZ)
CIK:        0001311370
Form:       8-K
Filed at:   2022-04-06T23:59:59+00:00
Accession:  0001193125-22-096821
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lazard extends retention agreements for Jacobs, Russo, Orszag to 2025; Bhutani and Stern to retire
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- Jacobs, Russo, Orszag get extended retention agreements through March 31, 2025, with change-in-control extension.
- Russo to become CEO of Lazard Asset Management by June 1, 2022, succeeding Bhutani.
- Bhutani resigns as LAM CEO June 1, 2022, remains Chairman of Asset Mgmt and Vice Chairman through Dec 31, 2022.
- Stern resigns as President effective Dec 31, 2022; not due to dispute with Company.
- Severance: Qualifying Termination pays 2x base salary plus average bonus; 1x if not renewed (Russo/Orszag).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1311370/000119312522096821/0001193125-22-096821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1311370/000119312522096821/d269419d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-096821

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer