Lazard, Inc. — Director's Dealing 2013

Mar 13, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2013-03-12

Reporting Person: BHUTANI ASHISH (Director, Vice Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-03-12	Performance-based Restricted Stock Units	$	A	21200	Acquired		Class A common stock (21200)	Direct

Footnotes

F1: Represents Performance-based Restricted Stock Units granted on March 12, 2013 for which Lazard Ltd's Compensation Committee has determined satisfaction of, and which are no longer subject to, the applicable performance conditions based on the Company's performance during fiscal year 2012. Does not include Performance-based Restricted Stock Units granted on March 12, 2013 that have performance conditions which have not been satisfied.

F2: Each Performance-based Restricted Stock Unit (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A common stock of Lazard Ltd.

F3: The Performance-based Restricted Stock Units granted on March 12, 2013 will vest in two tranches: 33.33% on March 2, 2015 and the other 66.67% on March 1, 2016.

F4: Amount excludes 201,122 Restricted Stock Units, and 642,736 shares of Class A common stock, beneficially owned by the reporting person.