Alexander F. Stern - Mar 1, 2022 Form 4 Insider Report for Lazard Ltd (LAZ)

Role
President
Signature
/s/ Alexander F. Stern by Scott D. Hoffman under a P of A
Stock symbol
LAZ
Transactions as of
Mar 1, 2022
Transactions value $
-$2,389,720
Form type
4
Date filed
3/3/2022, 07:04 PM
Previous filing
Feb 25, 2022
Next filing
Jun 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LAZ Class A Common Stock Options Exercise +221K +173.06% 348K Mar 1, 2022 Direct F1
transaction LAZ Class A Common Stock Disposed to Issuer -$2.39M -69.1K -19.84% $34.58 279K Mar 1, 2022 Direct F2, F3

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 -221K -80.78% 52.5K Mar 1, 2022 Class A Common Stock 221K Direct F1, F4, F5
* 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 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).
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 PRPUs referenced in Footnote (1).
F4 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.
F5 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.