Lazard, Inc. — Director's Dealing 2010

Mar 9, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2010-03-05

Reporting Person: JORDAN VERNON E JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-05	Class A common stock	M	83768	—	Acquired	90168	Direct
2010-03-05	Class A common stock	F	37696	$38.27	Disposed	52472	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-05	Restricted Stock Units	$	M	83768	Disposed	2010-03-05	Class A common stock (83768)	Direct

Footnotes

F1: Pursuant to an amendment to the retirement policy governing the restricted stock units ("RSUs") of Lazard Ltd (the "Company"), the reporting person met the requirements to receive all of the shares underlying his RSUs that were granted prior to December 31, 2009. The amendment provided that 45% of the reporting person's shares could be sold or withheld by the Company to pay estimated taxes and the remainder would be subject to certain restrictions on transfer, and other covenants, in accordance with the vesting schedule of the prior awards.

F2: The shares of Class A common stock were acquired upon the conversion Restricted Stock Units.

F3: Shares withheld by the Company to cover estimated taxes.

F4: Each Restricted Stock Unit represented a contingent right to receive one share of Class A common stock of Lazard Ltd.