Lazard, Inc. — Director's Dealing 2021

Mar 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2021-03-01

Reporting Person: RAGONE DOMINICK (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-01	Class A Common Stock	M	7107	—	Acquired	26999	Direct
2021-03-01	Restricted Class A Common Stock	M	2907	—	Disposed	14417	Direct
2021-03-01	Class A Common Stock	M	2907	—	Acquired	29906	Direct
2021-03-01	Class A Common Stock	F	3825	$38.69	Disposed	26081	Direct
2021-03-02	Class A Common Stock	M	84	—	Acquired	26165	Direct
2021-03-02	Class A Common Stock	F	43	$40.52	Disposed	26122	Direct
2021-03-02	Restricted Class A Common Stock	A	100	—	Acquired	14517	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-01	Restricted Stock Units	$	M	7107	Disposed	2021-03-01	Class A Common Stock (7107)	Direct
2021-03-02	Restricted Stock Units	$	A	347	Acquired		Class A Common Stock (347)	Direct
2021-03-02	Restricted Stock Units	$	M	84	Disposed	2021-03-02	Class A Common Stock (84)	Direct

Footnotes

F1: Shares of unrestricted Class A Common Stock were acquired upon the vesting of the relevant portion of prior grants of Restricted Stock Units ("RSUs") and Restricted Class A Common Stock, 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 referenced in Footnote (1) and the first sentence of Footnote (9).

F3: Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the vesting date of RSUs and Restricted Class A Common Stock referenced in Footnote (1).

F4: 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 the first sentence of Footnote (9).

F5: The Restricted Class A Common Stock will vest in two tranches: approximately 33% will vest on or around March 1, 2022 and approximately 67% will vest on or around March 1, 2023.

F6: Additional shares of Restricted Class A Common Stock were acquired pursuant to the dividend equivalent reinvestment provisions of underlying restricted stock awards.

F7: Each RSU represents a contingent right to receive one share of Class A Common Stock.

F8: Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.

F9: Of these RSUs, 84 related to RSUs that vested on March 1, 2021 and, therefore, such RSUs vested on March 2, 2021. Of the remaining RSUs, 105 will vest on or around March 1, 2022, 97 will vest on or around March 1, 2023, and 61 will vest on or around March 1, 2024.