Lazard, Inc. — Director's Dealing 2011

Feb 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2011-02-15

Reporting Person: HEYER STEVEN J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-15	Deferred Stock Units	$	A	717	Acquired		Class A common stock (717)	Direct

Footnotes

F1: The reporting person elected to receive additional Deferred Stock Units under the Directors' Fee Deferral Unit Plan, which allows Non-Executive Directors to elect to receive additional Deferred Stock Units pursuant to either the 2005 Equity Incentive Plan or the 2008 Incentive Compensation Plan, in lieu of some or all of their quarterly cash fees.

F2: The Deferred Stock Units of Lazard Ltd shall be converted into Lazard Ltd Class A common stock on a one-for-one basis upon the reporting person's retirement or resignation from the Board of Directors of Lazard Ltd.