Lazard, Inc. — Director's Dealing 2023

Feb 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2023-02-22

Reporting Person: Russo Evan L (CEO of Asset Management)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-22	Performance-based Restricted Participation Units	$	A	101022	Acquired		Class A Common Stock (101022)	Direct

Footnotes

F1: Represents a prior grant of Performance-based Restricted Participation Units ("PRPUs") awarded with respect to compensation for 2019 for which performance conditions have been satisfied. The grant was previously reflected in the Company's proxy statement for the relevant year.

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: These PRPUs will vest on or around March 1, 2023.

F4: Amount excludes 219,466 shares of Class A Common Stock directly or indirectly owned by the reporting person.