Lazard, Inc. — Director's Dealing 2018

Feb 26, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2018-02-22

Reporting Person: Stern Alexander F. (Chief Operating Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-22	Performance-based Restricted Stock Units	$	A	171119	Acquired		Class A Common Stock (171119)	Direct
2018-02-23	Restricted Stock Units	$	A	15868	Acquired		Class A Common Stock (15868)	Direct

Footnotes

F1: Represents prior grants of Performance-based Restricted Stock Units ("PRSUs") awarded with respect to compensation for 2014, 2015 and 2016 for which performance conditions have been satisfied. The grants were previously reflected in the Company's proxy statements covering the relevant years.

F2: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.

F3: Of these PRSUs, 115,864 will vest on or around March 1, 2018, 31,155 will vest on or around March 1, 2019, and 24,100 will vest on or around March 2, 2020.

F4: Additional Restricted Stock Units ("RSUs") were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU awards.

F5: Each RSU represents a contingent right to receive one share of Class A Common Stock.

F6: Of these RSUs, 5,465 will vest on or around March 1, 2018, 4,601 will vest on or around March 1, 2019, 3,300 will vest on or around March 2, 2020 and 2,502 will vest on or around March 1, 2021.

F7: Amount excludes 101,184 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person.