KENNETH M. JACOBS - 01 Mar 2022 Form 4 Insider Report for Lazard Ltd (LAZ)

Role: Chairman and CEO, Director
Signature: /s/ Kenneth M. Jacobs by Scott D. Hoffman under a P of A
Issuer symbol: LAZ
Transactions as of: 01 Mar 2022
Net transactions value: -$4,152,747
Form type: 4
Filing time: 03 Mar 2022, 18:56:27 UTC
Previous filing: 25 Feb 2022
Next filing: 24 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LAZ	Class A Common Stock	Options Exercise		+341,168	+22%		1,911,750	01 Mar 2022	Direct	F1, F2
transaction	LAZ	Class A Common Stock	Disposed to Issuer	$4,152,747	-120,091	-6.3%	$34.58	1,791,659	01 Mar 2022	Direct	F2, F3, F4

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	Options Exercise		-341,168	-81%		80,794	01 Mar 2022	Class A Common Stock	341,168		Direct	F1, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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	Amount excludes 584,279 shares of Class A Common Stock indirectly beneficially owned by the reporting person by trust.
F3	Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the exchange of the PRPUs referenced in Footnote (1).
F4	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).
F5	Represents a prior grant of PRPUs awarded with respect to compensation for 2018 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.
F6	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.