LAMR · Lamar Advertising Co/New · Insider Trading

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $148.75 to $149.23 inclusive. The reporting person undertakes to provide to Lamar Advertising Company ("Lamar"), any security holder of Lamar, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 243 shares were fully vested on the date of grant, and the remaining 242 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer. The shares were awarded by the Compensation Committee upon the Reporting Person's re-election as a director of the Company and upon the satisfaction of certain conditions relating to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, which were satisfied in full on the business day prior to the grant date reported herein.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 271 shares were fully vested on the date of grant, and the remaining 271 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 271 shares were fully vested on the date of grant, and the remaining 271 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 322 shares were fully vested on the date of grant, and the remaining 322 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 322 shares were fully vested on the date of grant, and the remaining 322 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 271 shares were fully vested on the date of grant, and the remaining 271 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 339 shares were fully vested on the date of grant, and the remaining 339 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 271 shares were fully vested on the date of grant, and the remaining 271 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 254 shares were fully vested on the date of grant, and the remaining 254 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The options fully vested as of October 3, 2020.

Shares sold to cover tax withholding obligations and the option exercise price.

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 2026, expected to occur in February 2027, 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.

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 2026, expected to occur in February 2027, 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.

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 2026, expected to occur in February 2027, 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.

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 2026, expected to occur in February 2027, 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.

The reporting person is a member and manager of Westview Capital Partners, LLC.

Represents LTIP Units in the OP. The LTIP Units were issued pursuant to Lamar's 1996 Equity Incentive Plan, as amended.

As described in the OP's partnership agreement, vested LTIP Units 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.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

Represents Common Units in the OP. Each Common Unit may be redeemed by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

Represents Common Units in the OP. Each Common Unit may be redeemed by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

These shares were certified by the Compensation Committee as earned in February 2026 pursuant to the performance-equity bonus program under the Lamar 1996 Equity Incentive Plan, as amended.

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.

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.

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.

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.

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.

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.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $124.83 to $125.59, inclusive. The reporting person undertakes to provide to Lamar Advertising Company, any security holder of Lamar Advertising Company, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4.

The reporting person is a member and manager of Westview Capital Partners, LLC.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $122.73 to $123.69, inclusive. The reporting person undertakes to provide to Lamar Advertising Company, any security holder of Lamar Advertising Company, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

The reporting person is a member and manager of Westview Capital Partners, LLC.

The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $123.82 to $124.82, inclusive. The reporting person undertakes to provide to Lamar Advertising Company, any security holder of Lamar Advertising Company, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3.

The reporting person is a member and manager of Westview Capital Partners, LLC.

Represents Common Units in the OP. Each Common Unit may be redeemed by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of the Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

Represents Common Units in the OP. Each Common Unit may be redeemed by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of the Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of the Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

Represents LTIP Units in the OP. The LTIP Units were issued pursuant to the Lamar's1996 Equity Incentive Plan, as amended.

As described in the OP's partnership agreement, vested LTIP Units 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.

These long-term incentive plan units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were converted into common partnership units of the OP ("Common Units"), and the Common Units were redeemed for an equal number of shares of the Lamar's Class A Common Stock in accordance with the OP's partnership agreement.

The reporting person is a member and manager of Westview Capital Partners, LLC.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 325 shares were fully vested on the date of grant, and the remaining 325 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 428 shares were fully vested on the date of grant, and the remaining 427 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 321 shares were fully vested on the date of grant, and the remaining 320 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 342 shares were fully vested on the date of grant, and the remaining 342 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 321 shares were fully vested on the date of grant, and the remaining 320 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 342 shares were fully vested on the date of grant, and the remaining 342 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 406 shares were fully vested on the date of grant, and the remaining 406 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 342 shares were fully vested on the date of grant, and the remaining 342 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.

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 2025, expected to occur in February 2026, 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.

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 2025, expected to occur in February 2026, 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.

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 2025, expected to occur in February 2026, 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.

The reporting person donated the shares to a charitable organization.

The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan. 333 shares were fully vested on the date of grant, and the remaining 332 shares vest on the last day of the Reporting Person's one-year term as director of the Issuer.