Kevin P. Reilly Jr - Feb 24, 2023 Form 4 Insider Report for LAMAR ADVERTISING CO/NEW (LAMR)

Role: Executive Chairman, Director, 10%+ Owner
Signature: /s/ James McIlwain, as attorney-in-fact
Stock symbol: LAMR
Transactions as of: Feb 24, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/28/2023, 03:02 PM
Previous filing: Aug 24, 2022
Next filing: Feb 23, 2024

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	LAMR	LTIP Units	Award	$0	+22K	+100%	$0.00	44K	Feb 24, 2023	Class A Common Stock	22K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These LTIP Units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were issued under Lamar's 1996 Equity Incentive Plan, as amended. LTIP Units are a class of units of the OP that, following the occurrence of certain events and upon vesting, convert automatically into an equivalent number of common partnership units of the OP ("Common Units"). Common Units are redeemable by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election. These LTIP Units are subject to forfeiture based on the achievement of financial performance goals by Lamar, and will vest upon certification of Lamar's financial results for 2023, expected to occur in February 2024, subject to the reporting person's continued employment at Lamar.

Content

These LTIP Units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were issued under Lamar's 1996 Equity Incentive Plan, as amended. LTIP Units are a class of units of the OP that, following the occurrence of certain events and upon vesting, convert automatically into an equivalent number of common partnership units of the OP ("Common Units"). Common Units are redeemable by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election. These LTIP Units are subject to forfeiture based on the achievement of financial performance goals by Lamar, and will vest upon certification of Lamar's financial results for 2023, expected to occur in February 2024, subject to the reporting person's continued employment at Lamar.