X0306 4 2020-02-28 0 0001311370 Lazard Ltd LAZ 0001073157 JACOBS KENNETH M C/O LAZARD LTD 30 ROCKEFELLER PLAZA NEW YORK NY 10112 1 1 0 0 Chairman and CEO Restricted Class A Common Stock 2020-02-28 4 M 0 3128 A 169236 D Restricted Class A Common Stock 2020-03-02 4 M 0 123957 D 45279 D Class A Common Stock 2020-03-02 4 M 0 123957 A 1443764 D Class A Common Stock 584279 I By Trust Restricted Stock Units 2020-02-28 4 A 0 3128 A Class A Common Stock 3128 3128 D Restricted Stock Units 2020-02-28 4 M 0 3128 D Restricted Class A Common Stock 3128 0 D Restricted Stock Units ("RSUs") granted to the reporting person pursuant to the dividend equivalent reinvestment provisions of underlying Performance-based Restricted Stock Unit ("PRSU") awards are being treated as subject to taxation and have been settled in the form of Restricted Class A Common Stock. The Restricted Class A Common Stock, excluding the portion that the reporting person is permitted to sell in order to pay the related taxes (in accordance with the applicable award agreements), will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreements until the original vesting dates set forth therein. Shares of unrestricted Class A Common Stock were acquired upon the vesting of a prior grant of PRSUs awarded with respect to compensation for 2016, including certain RSUs that had been acquired pursuant to the dividend equivalent reinvestment provisions of the underlying PRSU award. The grant was previously reflected in the Company's proxy statements. The PRSUs and RSUs that had been acquired pursuant to the award had previously been converted into shares of Restricted Class A Common Stock in connection with the reporting person's retirement eligibility and such shares remained subject to vesting. Amount excludes 47,917 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person. Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU awards. Each RSU represents a contingent right to receive one share of Class A Common Stock. Of these RSUs, 1,849 vested on March 2, 2020 and 1,279 will vest on or around March 1, 2021. /s/ Kenneth M. Jacobs by Scott D. Hoffman under a P of A 2020-03-03