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: Stern Alexander F. (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-01	Class A Common Stock	M	136364	—	Acquired	324585	Direct
2021-03-01	Class A Common Stock	M	15675	—	Acquired	340260	Direct
2021-03-01	Class A Common Stock	D	74439	$38.69	Disposed	265821	Direct
2021-03-01	Class A Common Stock	S	50000	$38.69	Disposed	215821	Direct
2021-03-02	Class A Common Stock	M	1756	—	Acquired	217577	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-01	Performance-based Restricted Stock Units	$	M	136364	Disposed	2021-03-01	Class A Common Stock (136364)	Direct
2021-03-01	Restricted Stock Units	$	M	15675	Disposed	2021-03-01	Class A Common Stock (15675)	Direct
2021-03-02	Restricted Stock Units	$	A	1756	Acquired	2021-03-02	Class A Common Stock (1756)	Direct
2021-03-02	Restricted Stock Units	$	M	1756	Disposed	2021-03-02	Class A Common Stock (1756)	Direct

Footnotes

F1: Shares of Class A Common Stock were acquired upon the vesting of a prior grant of Performance-based Restricted Stock Units ("PRSUs") awarded with respect to compensation for 2017, including certain Restricted Stock Units ("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.

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

F4: Represents shares of Class A Common Stock sold to the Company.

F5: Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the transaction date.

F6: Amount excludes 88,278 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person.

F7: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.

F8: Each RSU represents a contingent right to receive one share of Class A Common Stock.

F9: Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSUs and RSUs described in Footnote (1) above that were outstanding on the dividend record date and that vested on March 1, 2021. These RSUs vested on March 2, 2021.