How is the 542-share LAMR equity award to Marshall A. Loeb structured?

The 542-share award is split into two equal parts. According to the footnote, 271 shares vested immediately on the grant date, and the remaining 271 shares will vest on the last day of Marshall A. Loeb’s one-year term as a director.

Under which plan was Marshall A. Loeb’s LAMR share grant made?

Marshall A. Loeb’s 542-share grant was issued under Lamar Advertising’s 1996 Equity Incentive Plan. This plan is used to provide equity-based compensation, and the filing notes that the award was made pursuant to this specific long-standing incentive program.

Lamar Advertising (LAMR) director receives 542-share stock grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

LOEB MARSHALL A reported acquisition or exercise transactions in this Form 4 filing.

Lamar Advertising director Marshall A. Loeb received a grant of 542 shares of Class A Common Stock as equity compensation. The award was made at no cash cost to him under the company’s 1996 Equity Incentive Plan. Of these shares, 271 vested immediately and 271 will vest at the end of his one-year board term, bringing his direct holdings to 6,418 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LOEB MARSHALL A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	542	$0.00	--

Holdings After Transaction: Class A Common Stock — 6,418 shares (Direct, null)

Footnotes (1)

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Key Figures

Equity grant size: 542 shares Immediately vested portion: 271 shares Deferred vesting portion: 271 shares +2 more

5 metrics

Equity grant size 542 shares Class A Common Stock grant on May 14, 2026

Immediately vested portion 271 shares Fully vested on the date of grant

Deferred vesting portion 271 shares Vest on last day of one-year director term

Post-grant holdings 6,418 shares Total Class A Common Stock directly held after transaction

Grant price per share $0.0000 per share Indicates no cash paid by reporting person

Key Terms

Class A Common Stock, 1996 Equity Incentive Plan, vest, Grant, award, or other acquisition

4 terms

Class A Common Stock financial

"The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan."

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

1996 Equity Incentive Plan financial

"The securities reported were granted pursuant to the Issuer's 1996 Equity Incentive Plan."

vest financial

"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"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Form 4 Insider Transactions: What Each Field Means →

05/18/2026 - 04:03 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LOEB MARSHALL A

(Last)

(First)

(Middle)

5321 CORPORATE BOULEVARD

(Street)

BATON ROUGE

LOUISIANA

70808

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LAMAR ADVERTISING CO/NEW [ LAMR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/14/2026		A		542⁽¹⁾	A	$0	6,418	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. 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.

	/s/ James McIlwain, at attorney-in-fact	05/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did LAMAR ADVERTISING (LAMR) report for Marshall A. Loeb?

LAMAR ADVERTISING reported that director Marshall A. Loeb received a grant of 542 shares of Class A Common Stock as equity compensation, at no cash cost, under the company’s 1996 Equity Incentive Plan, increasing his direct holdings to 6,418 shares after the award.

Was the Marshall A. Loeb Form 4 transaction in LAMR a market purchase or sale?

The Form 4 transaction was not an open-market purchase or sale. It was an equity grant classified as a grant, award, or other acquisition, with 542 shares of Class A Common Stock issued as compensation rather than bought or sold in the market.

How many LAMR shares does Marshall A. Loeb hold after this equity grant?

After the grant, Marshall A. Loeb directly holds 6,418 shares of Lamar Advertising Class A Common Stock. This total includes the 542-share award reported in the filing, which added to his prior balance as part of his director compensation package.

Does the LAMR Form 4 indicate any derivative securities for Marshall A. Loeb?

The Form 4 data show no derivative transactions or remaining derivative positions for Marshall A. Loeb. The reported activity involves only non-derivative Class A Common Stock granted as compensation, with no options, warrants, or other derivative securities listed in this filing.