Lazard, Inc. — Director's Dealing 2022

Feb 25, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2022-02-23

Reporting Person: Stern Alexander F. (President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-02-23	Performance-based Restricted Participation Units	$	A	185026	Acquired		Class A Common Stock (185026)	Direct

Footnotes

F1: 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 at target were previously reflected in the Company's proxy statement for the relevant years.

F2: 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.

F3: Of these PRPUs, 158,768 will vest on or around March 1, 2022, and 26,258 will vest on or around March 1, 2023.

F4: Amount excludes 127,577 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person.