Lazard, Inc. — Director's Dealing 2022

Mar 3, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2022-03-01

Reporting Person: JACOBS KENNETH M (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-03-01	Class A Common Stock	M	341168	—	Acquired	1911750	Direct
2022-03-01	Class A Common Stock	D	120091	$34.58	Disposed	1791659	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-01	Performance-based Restricted Participation Units	$	M	341168	Disposed		Class A Common Stock (341168)	Direct

Footnotes

F1: Shares of Class A Common Stock were acquired upon the exchange of a prior grant of Performance-based Restricted Participation Units ("PRPUs") into shares of Class A Common Stock.

F2: Amount excludes 584,279 shares of Class A Common Stock indirectly beneficially owned by the reporting person by trust.

F3: Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the exchange of the PRPUs 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 exchange date of the PRPUs referenced in Footnote (1).

F5: Represents a prior grant of PRPUs awarded with respect to compensation for 2018 for which performance and other conditions have been satisfied. The grant at target was previously reflected in the Company's proxy statement for the relevant year.

F6: 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.