Kevin P. Reilly Jr - Mar 12, 2024 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
Mar 12, 2024
Transactions value $
$0
Form type
4
Date filed
3/14/2024, 04:06 PM
Previous 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 +26.4K $0.00 26.4K Mar 12, 2024 Class A Common Stock 26.4K Direct F1, F2
holding LAMR LTIP Units 33K Mar 12, 2024 Class A Common Stock 33K Direct F3
* 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.
F2 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 2024, expected to occur in February 2025, subject to the reporting person's continued employment at Lamar and the discretion of the Compensation Committee. The number of LTIP Units issued is the maximum number achievable by such reporting person and represents achievement of financial performance goals at 120% of target.
F3 These LTIP Units of the OP were issued in 2022 and 2023 under Lamar's 1996 Equity Incentive Plan, as amended, and following the occurrence of certain events and upon vesting, convert automatically into an equivalent number of Common Units. The 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.