FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * BHUTANI ASHISH 2. Issuer Name and Ticker or Trading Symbol Lazard Ltd [ LAZ ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
CEO of Lazard Asset Management
(Last)         (First)         (Middle)
C/O LAZARD LTD, 30 ROCKEFELLER PLAZA
3. Date of Earliest Transaction (MM/DD/YYYY)
8/21/2020
(Street)
NEW YORK, NY 10112
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Restricted Class A Common Stock  8/21/2020    M    712  A  (1) 28468  D   
Restricted Class A Common Stock  8/21/2020    M    379  D  (1) 28089  D   
Class A Common Stock  8/21/2020    M    379  A  (2) 829134  D   
Class A Common Stock  8/21/2020    F    379 (2) D $30.96 (3) 828755 (4) D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (5)  (6) 8/21/2020    A     712       (7)  (7) Class A Common Stock  712   (6) 712  D   
Restricted Stock Units   (1) 8/21/2020    M        712    (1)  (1) Restricted Class A Common Stock  712   (1) 0 (4) D   

Explanation of Responses:
(1)  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 retained by the Company in order to cover taxes required to be withheld, will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreement until the original vesting date set forth therein.
(2)  Represents shares of Class A Common Stock retained by the Company to cover taxes required to be withheld in connection with the settlement of RSUs.
(3)  Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the settlement date of the RSUs referenced in Footnote (1).
(4)  Amount excludes 30,609 Performance-based Restricted Participation Units directly or indirectly owned by the reporting person.
(5)  Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of the underlying PRSU award.
(6)  Each RSU represents a contingent right to receive one share of Class A Common Stock.
(7)  These RSUs will vest on or around March 1, 2021.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BHUTANI ASHISH
C/O LAZARD LTD
30 ROCKEFELLER PLAZA
NEW YORK, NY 10112
X
CEO of Lazard Asset Management

Signatures
/s/ Ashish Bhutani by Scott D. Hoffman under a P of A 8/25/2020
**Signature of Reporting Person Date
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