Lazard, Inc. — Director's Dealing 2023

Mar 10, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2023-03-08

Reporting Person: Hoffman Scott D (CAO and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-08	Class A Common Stock	M	107918	—	Acquired	223277	Direct
2023-03-08	Class A Common Stock	D	71992	$37.00	Disposed	151285	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-08	Performance-based Restricted Participation Units	$	M	107918	Disposed		Class A Common Stock (107918)	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: Represents shares of Class A Common Stock sold to the Company, including to cover estimated taxes arising from the exchange of the PRPUs referenced in Footnote (1).

F3: 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).

F4: Represents a prior grant of PRPUs awarded with respect to compensation for 2019 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.

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.