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sellWeak cluster of 310b5-1 plan

Peter Richard Orszag sold $1.8M of LAZ

CEO & Chairman at Lazard, Inc.. 32,475 shares at an average of $54.09, traded Sep 16, 2025, filed Sep 17, 2025.

Warning score
35
Value
$1.8M
32,475 shares
Holdings after
183,274
-15% from before
From 52-week low
+66%
low $31.35, close $52.11
From 52-week high
-7%
high $56.23, as of Sep 16, 2025

Score components

  • Role
    CEO
    +25
  • Trade size
    $1.8M at market
    +25
  • Share of holdings sold
    Sold 15% of holdings
    +5
  • Cluster
    3 insiders selling within 14 days
    +15
  • Exercise and sell
    Shares came from an option exercise in the same filing
    -15
  • 10b5-1 plan
    Pre-scheduled under a 10b5-1 plan
    -20

What happened after comparable sells

Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.

Price around the trade, and since

From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.

LAZOct 9, 2026 · close 36.75
Since filing Sep 17, 2025: -31.1%SPY +19.7% · excess -50.8%

Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™

Rows in this filing

Every transaction in Form 4 0001837678-25-000005, as filed. Open on EDGAR

DateTransactionSharesPriceValueHoldings afterFiled
Sep 15, 2025MOption exercise
Common Stock10b5-1
+64,949--235,234Sep 17, 2025
Sep 15, 2025DDisposition to issuer
Common Stock10b5-1
-19,485$55.59$1.1M215,749Sep 17, 2025
Sep 16, 2025SOpen-market sale
Common Stock10b5-1
-32,475$54.09$1.8M183,274Sep 17, 2025
Sep 15, 2025MOption exercise
Restricted Stock Unitsderivative10b5-1
-64,949$0.00$00Sep 17, 2025

Related signals

Other insiders at Lazard, Inc. and this insider’s other filings.

ScoreCompanyInsiderValueHoldingsFiled
35Weak
LAZsell 210b5-1
Lazard, Inc.
Christopher Hogbin
CEO Asset Management
$474k
11,829 shares
-50%
28Weak
LAZsell 210b5-1
Lazard, Inc.
Peter Richard Orszag
CEO & Chairman
$2.8M
69,170 shares
-25%
56Moderate
LAZsell 3
Lazard, Inc.
Michael Gathy
Chief Accounting Officer
$34k
617 shares
-100%
70Notable
LAZsell 3
Lazard, Inc.
Evan L Russo
CEO of Asset Management
$4.2M
75,000 shares
-25%
55Moderate
LAZsell
Lazard, Inc.
Alexandra Soto
Chief Operating Officer
$3.8M
85,894 shares
-43%

Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.

Peter Richard Orszag sold $1.8M of LAZ | InsiderTell