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: Orszag Peter Richard (CEO of Financial Advisory)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-08	Class A Common Stock	M	39214	—	Acquired	112634	Direct
2023-03-08	Class A Common Stock	D	38893	$37.00	Disposed	73741	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-08	Restricted Participation Rights	$	M	39214	Disposed		Class A Common Stock (39214)	Direct

Footnotes

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

F2: Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the exchange of PRUs 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 PRUs referenced in Footnote (1).

F4: Amount excludes 77,636 restricted stock units directly or indirectly beneficially owned by the reporting person.

F5: Represents a prior grant of PRUs awarded with respect to compensation for 2019 for which service and other conditions have been satisfied.

F6: Each PRU represents an interest in Lazard Group LLC that may be exchanged for one share of Class A Common Stock.