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: Hoffman Scott D (CAO and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-01	Restricted Class A Common Stock	M	41152	—	Disposed	0	Direct
2021-03-01	Class A Common Stock	M	41152	—	Acquired	117450	Direct
2021-03-02	Class A Common Stock	S	25000	$40.52	Disposed	92450	Direct
2021-03-02	Class A Common Stock	M	646	—	Acquired	93096	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-02	Restricted Stock Units	$	A	646	Acquired	2021-03-02	Class A Common Stock (646)	Direct
2021-03-02	Restricted Stock Units	$	M	646	Disposed	2021-03-02	Class A Common Stock (646)	Direct

Footnotes

F1: Shares of unrestricted 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. 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.

F2: Represents shares of Class A Common Stock sold to the Company.

F3: Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the transaction
date.

F4: Amount excludes 45,894 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 PRSUs described in Footnote (1) that were outstanding on the dividend record date and vested March 1, 2021. These RSUs vested on March 2, 2021.

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