Evan L. Russo - Mar 8, 2023 Form 4 Insider Report for Lazard Ltd (LAZ)

Role
CEO of Asset Management
Signature
/s/ Evan L. Russo by Scott D. Hoffman under a P of A
Stock symbol
LAZ
Transactions as of
Mar 8, 2023
Transactions value $
-$2,105,929
Form type
4
Date filed
3/10/2023, 05:14 PM
Previous filing
Feb 24, 2023
Next filing
Jan 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LAZ Class A Common Stock Options Exercise +135K +99.06% 271K Mar 8, 2023 Direct F1, F2
transaction LAZ Class A Common Stock Disposed to Issuer -$2.11M -56.9K -21.03% $37.00 214K Mar 8, 2023 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 -135K -100% 0 Mar 8, 2023 Class A Common Stock 135K 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 83,493 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 2019 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.