Lazard, Inc. — Director's Dealing 2020

Mar 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2020-02-28

Reporting Person: Soto Alexandra (Exec Human Capital & Workplace)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-02	Class A Common Stock	M	27711	—	Acquired	27711	Direct
2020-03-02	Class A Common Stock	F	13027	$35.82	Disposed	14684	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-28	Restricted Stock Units	$	A	2215	Acquired		Class A Common Stock (2215)	Direct
2020-03-02	Restricted Stock Units	$	M	27711	Disposed	2020-03-02	Class A Common Stock (27711)	Direct

Footnotes

F1: Shares of Class A Common Stock were acquired upon the vesting of the relevant portion of prior grants of Restricted Stock Units
("RSUs"), including certain RSUs that had been acquired pursuant to the dividend equivalent
reinvestment provisions of the underlying RSU awards.

F2: Represents shares of Class A Common Stock withheld by the Company to cover taxes arising from the vesting of 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
the RSUs referenced in Footnote (1).

F4: Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.

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

F6: Of these RSUs, 362 vested on March 2, 2020, 778 will vest on or around March 1, 2021, 829 will vest on or around March 1, 2022 and 246 will vest on or around March 1, 2023.