Peter R. Orszag - Mar 1, 2022 Form 4 Insider Report for Lazard Ltd (LAZ)

Role: CEO of Financial Advisory
Signature: /s/ Peter R. Orszag by Scott D. Hoffman under a P of A
Stock symbol: LAZ
Transactions as of: Mar 1, 2022
Transactions value $: -$261,459
Form type: 4
Date filed: 3/3/2022, 06:57 PM
Previous filing: Mar 1, 2022
Next filing: May 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LAZ	Restricted Class A Common Stock	Options Exercise		-3.67K	-33.37%		7.33K	Mar 1, 2022	Direct	F1
transaction	LAZ	Class A Common Stock	Options Exercise		+3.67K	+48.51%		11.2K	Mar 1, 2022	Direct	F1
transaction	LAZ	Class A Common Stock	Options Exercise		+62K	+552.31%		73.2K	Mar 1, 2022	Direct	F2
transaction	LAZ	Class A Common Stock	Disposed to Issuer	-$261K	-7.56K	-10.32%	$34.58	65.7K	Mar 1, 2022	Direct	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	Restricted Participation Units	Options Exercise		-62K	-61.26%		39.2K	Mar 1, 2022	Class A Common Stock	62K		Direct	F2, F5, F6

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

Explanation of Responses:

Id	Content
F1	Shares of unrestricted Class A Common Stock were acquired upon the vesting of the relevant portion of prior grants of Restricted Class A Common Stock, including certain shares of Restricted Class A Common Stock that had been acquired pursuant to the dividend equivalent reinvestment provisions of the underlying awards.
F2	Shares of Class A Common Stock were acquired upon the exchange of a prior grant of Restricted Participation Units ("RPU") into shares of Class A Common Stock.
F3	Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the exchange of RPUs referenced in Footnote (2).
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 RPUs referenced in Footnote (2).
F5	Represents a prior grant of RPUs awarded with respect to compensation for 2018 for which service and other conditions have been satisfied.
F6	Each RPU represents an interest in Lazard Group LLC that has satisfied its minimum value condition and that may be exchanged for one share of Class A Common Stock.