Lazard, Inc. — Director's Dealing 2016

Mar 1, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2016-02-26

Reporting Person: RAGONE DOMINICK (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-01	Class A Common Stock	M	1986	—	Acquired	2103	Direct
2016-03-01	Class A Common Stock	F	735	$35.18	Disposed	1368	Direct
2016-03-01	Restricted Class A Common Stock	A	6172	—	Acquired	6172	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-26	Restricted Stock Units	$	A	710	Acquired		Class A Common Stock (710)	Direct
2016-03-01	Restricted Stock Units	$	M	1986	Disposed	2016-03-01	Class A Common Stock (1986)	Direct

Footnotes

F1: Shares of Class A common stock were acquired upon the vesting of the relevant portion of prior grants of Restricted Stock Units ("RSUs"), including certain RSUs that had been acquired pursuant to the dividend equivalent reinvestment provisions of the underlying RSU awards.

F2: Represents shares of Class A common stock withheld by the Company to cover estimated taxes arising from the vesting of RSUs.

F3: Represents the New York Stock Exchange closing price of Class A common stock on February 29, 2016, the trading day immediately preceding the vesting date.

F4: Of the shares of Restricted Class A common stock, 2,058 will vest on or around March 1, 2018, and 4,114 will vest on or around March 1, 2019.

F5: Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.

F6: Each RSU represents a contingent right to receive one share of Class A common stock.

F7: Of the RSUs, 87 vested on March 1, 2016, 202 will vest on or around March 1, 2017, 225 will vest on or around March 1, 2018, and 196 will vest on or around March 1, 2019.