Lazard, Inc. — Director's Dealing 2012

Nov 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2012-11-15

Reporting Person: Hoffman Scott D (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-15	Class A common stock	C	61091	—	Acquired	69486	Direct
2012-11-15	Class A common stock	S	61091	$27.39	Disposed	8395	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-15	Class II Interests of LAZ-MD Holdings LLC	$	C	61091	Disposed		Class A Common Stock (61091)	Direct

Footnotes

F1: The shares of Class A common stock were acquired upon the exchange of Class II Interests of LAZ-MD Holdings LLC.

F2: Shares acquired by the Company at a price based on the average of the New York Stock Exchange closing price of Class A common stock on November 13 -- November 15, 2012.

F3: The Class II Interests of LAZ-MD Holdings LLC are exchangeable on a one-for-one basis for Class A comon stock of Lazard Ltd.

F4: Amount excludes 184,381 previously granted Restricted Stock Units.