SEAN E. REILLY - 18 Feb 2026 Form 4 Insider Report for LAMAR ADVERTISING CO/NEW (LAMR)

Role: Chief Executive Officer
Signature: /s/ James McIlwain, as attorney-in-fact
Issuer symbol: LAMR
Transactions as of: 18 Feb 2026
Net transactions value: $0
Form type: 4
Filing time: 20 Feb 2026, 16:08:34 UTC
Previous filing: 13 Mar 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
REILLY SEAN E	Chief Executive Officer	5321 CORPORATE BOULEVARD, BATON ROUGE	/s/ James McIlwain, as attorney-in-fact	20 Feb 2026	0001008218

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	Disposed to Issuer	$0	-20,965	-35%	$0.000000	39,035	18 Feb 2026	Class A Common Stock	20,965		Direct	F1, F2
holding	LAMR	LTIP Units						126,000	18 Feb 2026	Class A Common Stock	126,000		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. These LTIP Units were originally awarded subject to forfeiture based on the achievement of performance goals for 2025, as determined by Lamar's Compensation Committee.
F2	Amount represents the portion of the award (including dividends) forfeited when performance results for 2025 were determined by the Compensation Committee on February 18, 2026.
F3	These LTIP Units of the OP were previously issued and vested 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.