Lazard, Inc. — Director's Dealing 2018

Mar 5, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2018-03-01

Reporting Person: Hoffman Scott D (CAO and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-01	Class A Common Stock	M	103734	—	Acquired	147341	Direct
2018-03-02	Class A Common Stock	D	43607	$53.47	Disposed	103734	Direct
2018-03-02	Class A Common Stock	S	15000	$52.13	Disposed	88734	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-01	Performance-based Restricted Stock Units	$	M	91206	Disposed	2018-03-01	Class A Common Stock (91206)	Direct
2018-03-01	Restricted Stock Units	$	M	12528	Disposed	2018-03-01	Class A Common Stock (12528)	Direct

Footnotes

F1: Shares of Class A Common Stock were acquired upon the vesting of a prior grant of Performance-based Restricted Stock Units ("PSRUs") awarded with respect to compensation for 2014, including certain Restricted Stock Units ("RSUs") that had been acquired pursuant to the dividend equivalent reinvestment provisions of the underlying PRSU award. The grant was previously reflected in the Company's proxy statements.

F2: Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the settlement of PRSUs and RSUs.

F3: Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the transaction date.

F4: Represents shares of Class A Common Stock sold primarily to cover the remaining amount of estimated taxes arising from the settlement of PRSUs and RSUs.

F5: Reflects a weighted average purchase price of $52.13 per share, at prices ranging from $52.00 to $52.82 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.

F6: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.

F7: Each RSU represents a contingent right to receive one share of Class A Common Stock.