Lamar Advertising CFO-linked firm receives 7,600 shares
The chief financial officer is a member and manager of the LLC that held 7,600 Class A shares after redemption.
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Form Type
4
Rhea-AI Filing Summary
Lamar Advertising Company (LAMR) reported that, on November 2, 2026, 7,600 vested LTIP Units held by Westview Capital Partners, LLC converted automatically into 7,600 Common Units, which were redeemed for 7,600 shares of Class A Common Stock. Westview held 7,600 shares afterward, and the transaction row reports 10,940 LTIP Units remaining there. Reporting person Jay LeCoryelle Johnson, the company's CFO, Treasurer and EVP, is a member and manager of Westview. The report also lists 33,600 LTIP Units held directly, 21,860 through Brawley Capital Partners, L.L.C., and 33,600 through Blair Road, L.L.C.
Insider Trade Summary
22,800 shares exercised/converted
Exercise
4 txns
Insider
Johnson Jay LeCoryelle
Role
CFO, Treasurer, EVP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | LTIP Units F3, F4, F1, F2 | 7,600 | $0.00 | $0.00 |
| Exercise | Common Units F5, F1, F2 | 7,600 | $0.00 | $0.00 |
| Exercise | Common Units F5, F1, F2 | 7,600 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F1, F2 | 7,600 | $0.00 | $0.00 |
| Holding | LTIP Units F3 | -- | -- | -- |
| Holding | LTIP Units F3, F6 | -- | -- | -- |
| Holding | LTIP Units F3, F7 | -- | -- | -- |
Holdings After Transaction:
LTIP Units — 10,940 contracts (Indirect, By Westview Capital Partners, LLC);
Common Units — 0 contracts (Indirect, By Westview Capital Partners, LLC);
Class A Common Stock — 7,600 shares (Indirect, ByWestview Capital Partners, LLC);
LTIP Units — 33,600 contracts (Direct);
LTIP Units — 21,860 contracts (Indirect, By Brawley Capital Partners, L.L.C.);
LTIP Units — 33,600 contracts (Indirect, By Blair Road, L.L.C.)
Footnotes (7)
- F1. 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.
- F2. The reporting person is a member and manager of Westview Capital Partners, LLC.
- F3. Represents LTIP Units in the OP. The LTIP Units were issued pursuant to Lamar's 1996 Equity Incentive Plan, as amended.
- F4. 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.
- F5. Represents Common Units in the OP.
- F6. The reporting person is a member and manager of Brawley Capital Partners, L.L.C.
- F7. The reporting person is a member and manager of Blair Road, L.L.C.
Key Figures
LTIP Units converted: 7,600 units
Common Units redeemed: 7,600 units
Class A Common Stock received: 7,600 shares
+4 more
7 metrics
LTIP Units converted
7,600 units
Held by Westview Capital Partners, LLC; November 2, 2026
Common Units redeemed
7,600 units
Redeemed by Westview Capital Partners, LLC; November 2, 2026
Class A Common Stock received
7,600 shares
Held indirectly by Westview Capital Partners, LLC after the transaction
LTIP Units following transaction
10,940 units
Westview Capital Partners, LLC
Directly held LTIP Units
33,600 units
Reported holding
LTIP Units held through Brawley Capital Partners, L.L.C.
21,860 units
Reported holding
LTIP Units held through Blair Road, L.L.C.
33,600 units
Reported holding
Key Terms
LTIP Units, Common Units, operating partnership, partnership agreement
4 terms
LTIP Units financial
"long-term incentive plan units ("LTIP Units")"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Common Units financial
"common partnership units of the OP ("Common Units")"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
operating partnership technical
"the operating partnership of Lamar Advertising Company"
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
partnership agreement technical
"in accordance with the OP's partnership agreement"
A partnership agreement is a written contract that lays out how two or more parties will work together, splitting responsibilities, profits, losses and decision-making. Think of it as a detailed roadmap or house rulebook for a joint project; it matters to investors because the terms determine how much revenue and risk a company will take on, how quickly it can act, and whether the partnership could dilute control or boost growth potential.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How were LAMR's 7,600 LTIP Units converted?
The 7,600 vested LTIP Units converted automatically into 7,600 Common Units, which were redeemed for an equal number of Class A shares. The partnership agreement provides that Common Units are redeemable for cash or Class A common stock at Lamar Advertising Company's election.
AI-generated analysis. How Rhea-AI works. Not financial advice.
