Reducing movement speed will also negatively affect skills that depend on the number of tiles traversed: agility, charge, and cavalier charge. When balancing the mod, you need to consider that these abilities have become slightly less valuable.
In my mod, for example, agility provides twice the bonus (+4 equivalent), charge remains unchanged in terms of formal modifications (the actual bonus has increased due to the increased importance of defense and because it now provides the maximum bonus after 5 tiles). Finally, cavalier charge was increased from 5% to 10% per tile, transforming it from a minor background ability into one of the strongest and most distinctive.
In your case, to avoid strengthening the original abilities, I would increase agility to only +3, the cavalry bonus to +10%, and there is no need to change the lizard charge, as it is the same whether it is 8 or 5-6.
Regarding movement speed, I can suggest another alternative: based on Heroes 3, you can convert speeds using the formula 75% (of what they were in Heroes 3 for these creatures), rounded down. This is a practically exact imitation. However, I would then only base it on upgrades, as the base values in Heroes 3 are significantly lower in terms of speed - and similar zombies in Heroes 5 would crawl at 2, which is historically accurate in itself, but initiative is already low.