Lazard, Inc. — Director's Dealing 2017

May 15, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2017-05-11

Reporting Person: Stern Alexander F. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-11	Class A Common Stock	S	65000	$44.747	Disposed	101184	Direct

Footnotes

F1: Reflects a weighted average purchase price of $44.747 per share, at prices ranging from $44.63 to $44.82 per share. The reporting person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares sold at each separate price.

F2: Amount excludes 69,778 Performance-based Restricted Stock Units and 31,570 Restricted Stock Units beneficially owned by the reporting person.