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: Russo Evan L (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-02	Class A Common Stock	M	18454	—	Acquired	105088	Direct
2020-03-02	Class A Common Stock	F	8752	$35.82	Disposed	96336	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-28	Restricted Stock Units	$	A	564	Acquired		Class A Common Stock (564)	Direct
2020-03-02	Restricted Stock Units	$	M	18454	Disposed	2020-03-02	Class A Common Stock (18454)	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: Amount excludes 8,160 Performance-based Restricted Stock Units ("PRSUs") and 15,305 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person.

F5: Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU and RSU awards.

F6: Each RSU represents a contingent right to receive one share of Class A Common Stock.

F7: Of these RSUs, 240 vested on March 2, 2020 and 324 will vest on or around March 1, 2021.