Jay LeCoryelle Johnson - 12 Mar 2024 Form 4 Insider Report for LAMAR ADVERTISING CO/NEW (LAMR)

Role
CFO, Treasurer, EVP
Signature
/s/ James McIlwain, as attorney-in-fact
Issuer symbol
LAMR
Transactions as of
12 Mar 2024
Net transactions value
$0
Form type
4
Filing time
14 Mar 2024, 16:07:15 UTC
Previous filing
08 Mar 2024
Next filing
03 May 2024
SEC
View on sec.gov

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 +33,600 $0.000000 33,600 12 Mar 2024 Class A Common Stock 33,600 Direct F1, F2
holding LAMR LTIP Units 22,000 12 Mar 2024 Class A Common Stock 22,000 By Westview Capital Partners, LLC F3, F4
holding LAMR LTIP Units 19,800 12 Mar 2024 Class A Common Stock 19,800 By Brawley Capital Partners F3, F5
* 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").
F2 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 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.
F4 The reporting person is a member and manager of Westview Capital Partners, LLC.
F5 The reporting person is a member and manager of Brawley Capital Partners, L.L.C.