Former Lazard Ltd Chief Executive Bruce Wasserstein's death will result in a payment of more than $186 million in restricted stock, according to the company's proxy statement.

Wasserstein was set to receive roughly 4.4 million shares of restricted stock as part of his compensation through 2012, according to the filing.

The shares will vest 30 days after his death and, based upon Thursday's closing price of $42.79, are worth about $186.5 million.

According to the proxy, Wasserstein received about $20.5 million in salary and incentive compensation in 2008.

(Reporting by Michael Erman; Editing by Gary Hill)