X0306 4 2020-11-20 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 2020-11-20 4 M 0 828 A 48287 D Restricted Stock Units 2020-11-20 4 A 0 828 A Class A Common Stock 828 828 D Restricted Stock Units 2020-11-20 4 M 0 828 D Restricted Class A Common Stock 828 0 D Restricted Stock Units ("RSUs") granted to the reporting person pursuant to the dividend equivalent reinvestment provisions of the underlying Performance-based Restricted Stock Unit ("PRSU") award 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 agreement), will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreement until the original vesting date set forth therein. Amount excludes 2,028,043 shares of Class A Common Stock and 47,917 Performance-based Restricted Participation Units directly or indirectly beneficially owned by the reporting person. Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of the underlying PRSU award. Each RSU represents a contingent right to receive one share of Class A Common Stock. These RSUs will vest on or around March 1, 2021. /s/ Kenneth M. Jacobs by Scott D. Hoffman under a P of A 2020-11-24