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: Hoffman Scott D (CAO and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-28	Restricted Class A Common Stock	M	1096	—	Acquired	55082	Direct
2020-03-02	Restricted Class A Common Stock	M	41389	—	Disposed	13693	Direct
2020-03-02	Class A Common Stock	M	41389	—	Acquired	156298	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-28	Restricted Stock Units	$	A	1096	Acquired		Class A Common Stock (1096)	Direct
2020-02-28	Restricted Stock Units	$	M	1096	Disposed		Restricted Class A Common Stock (1096)	Direct

Footnotes

F1: Restricted Stock Units ("RSUs") granted to the reporting person pursuant to the dividend equivalent reinvestment provisions of underlying Performance-based Restricted Stock Unit ("PRSU") awards are being treated as subject to taxation and have been settled in the form of Restricted Class A Common Stock. The Restricted Class A Common Stock, excluding the portion that the reporting person is permitted to sell in order to pay the related taxes (in accordance with the applicable award agreements), will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreements until the original vesting dates set forth therein.

F2: Shares of unrestricted Class A Common Stock were acquired upon the vesting of a prior grant of PRSUs awarded with respect to compensation for 2016, including certain 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. The PRSUs and RSUs that had been acquired pursuant to the award had previously been converted into shares of Restricted Class A Common Stock in connection with the reporting person's retirement eligibility and such shares remained subject to vesting.

F3: Amount excludes 16,202 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person.

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, 655 vested on March 2, 2020 and 441 will vest on or around March 1, 2021.