Lazard, Inc. — Director's Dealing 2020

May 27, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2020-05-22

Reporting Person: Stern Alexander F. (President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-22	Restricted Stock Units	$	A	1641	Acquired		Class A Common Stock (1641)	Direct

Footnotes

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

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

F3: These RSUs will vest on or around March 1, 2021.

F4: Amount excludes 315,221 shares of Class A Common Stock, 38,961 PRSUs and 31,010 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person.