Ashish Bhutani - Feb 23, 2022 Form 4 Insider Report for Lazard Ltd (LAZ)

Role
CEO of Lazard Asset Management, Director
Signature
/s/ Ashish Bhutani by Scott D. Hoffman under a P of A
Stock symbol
LAZ
Transactions as of
Feb 23, 2022
Transactions value $
$0
Form type
4
Date filed
2/25/2022, 06:08 PM
Next filing
Mar 3, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LAZ Performance-based Restricted Participation Units Award +181K +211.19% 267K Feb 23, 2022 Class A Common Stock 181K Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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, 156,719 will vest on or around March 1, 2022, and 24,671 will vest on or around March 1, 2023.
F4 Amount excludes 712,430 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person.