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: Russo Evan L (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-01	Class A Common Stock	M	28560	—	Acquired	41403	Direct
2021-03-01	Class A Common Stock	M	9821	—	Acquired	51224	Direct
2021-03-01	Class A Common Stock	F	20427	$38.69	Disposed	30797	Direct
2021-03-02	Class A Common Stock	M	444	—	Acquired	31241	Direct
2021-03-02	Class A Common Stock	F	237	$40.52	Disposed	31004	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-01	Performance-based Restricted Stock Units	$	M	28560	Disposed	2021-03-01	Class A Common Stock (28560)	Direct
2021-03-01	Restricted Stock Units	$	M	9821	Disposed	2021-03-01	Class A Common Stock (9821)	Direct
2021-03-02	Restricted Stock Units	$	A	444	Acquired	2021-03-02	Class A Common Stock (444)	Direct
2021-03-02	Restricted Stock Units	$	M	444	Disposed	2021-03-02	Class A Common Stock (444)	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 withheld by the Company to cover taxes arising from the vesting of PRSUs and RSUs referenced in Footnotes (1) and (8).

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: 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 (8).

F5: Amount excludes 83,493 shares of Class A Common Stock indirectly beneficially owned by the reporting person by trust and 47,446 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person.

F6: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.

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 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.