Lazard, Inc. — Director's Dealing 2019

May 21, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2019-05-17

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-17	Restricted Stock Units	$	A	2665	Acquired		Class A Common Stock (2665)	Direct

Footnotes

F1: Additional Restricted Stock Units ("RSUs") were acquired pursuant to the dividend equivalent reinvestment provisions of underlying Performance-based Restricted Stock Unit ("PRSU") awards.

F2: Each RSU represents a contingent right to receive one share of Class A Common Stock.

F3: Of these RSUs, 1,516 will vest on or around March 2, 2020 and 1,149 will vest on or around March 1, 2021.

F4: Amount excludes 283,595 shares of Class A Common Stock and 67,680 PRSUs directly or indirectly beneficially owned by the reporting person.