Lazard, Inc. — Director's Dealing 2019

Mar 5, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2019-03-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-01	Class A Common Stock	M	6804	—	Acquired	132506	Direct
2019-03-01	Class A Common Stock	M	249242	—	Acquired	381748	Direct
2019-03-01	Class A Common Stock	M	27549	—	Acquired	409297	Direct
2019-03-01	Class A Common Stock	D	125702	$37.43	Disposed	283595	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-03-01	Restricted Stock Units	$	A	11522	Acquired		Class A Common Stock (11522)	Direct
2019-03-01	Restricted Stock Units	$	M	6804	Disposed	2019-03-01	Class A Common Stock (6804)	Direct
2019-03-01	Performance-based Restricted Stock Units	$	M	249242	Disposed	2019-03-01	Class A Common Stock (249242)	Direct
2019-03-01	Restricted Stock Units	$	M	27549	Disposed	2019-03-01	Class A Common Stock (27549)	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 2015, 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 vesting date of PRSUs and RSUs referenced in Footnote (1).

F4: Additional 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, 6,804 vested on March 1, 2019, 2,684 will vest on or around March 2, 2020, and 2,034 will vest on or around March 1, 2021.

F7: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.