Lazard, Inc. — Director's Dealing 2021

Feb 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2021-02-24

Reporting Person: Stern Alexander F. (President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-24	Performance-based Restricted Stock Units	$	A	97403	Acquired		Class A Common Stock (97403)	Direct
2021-02-24	Performance-based Restricted Participation Units	$	A	57268	Acquired		Class A Common Stock (57268)	Direct

Footnotes

F1: Represents a prior grant of Performance-based Restricted Stock Units ("PRSUs") awarded with respect to compensation for 2017 for which performance conditions have been satisfied. The grant was previously reflected in the Company's proxy statements for the relevant year.

F2: Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.

F3: These PRSUs will vest on or around March 1, 2021.

F4: Represents prior grants of Performance-based Restricted Participation Units ("PRPUs") awarded with respect to compensation for 2018 and 2019 for which performance conditions have been satisfied. The grants were previously reflected in the Company's proxy statement for the relevant years.

F5: Each PRPU (the performance and other conditions of which have been satisfied) represents an interest in Lazard Group LLC that may be exchanged for one share of Class A Common Stock.

F6: Of these PRPUs, 31,010 will vest on or around March 1, 2022, and 26,258 will vest on or around March 1, 2023.

F7: Amount excludes 188,221 shares of Class A Common Stock and 15,675 Restricted Stock Units directly or indirectly beneficially owned by the reporting person.