Lamar Advertising director sells 8,099 shares

Rhea-AI Filing Summary

LAMAR ADVERTISING CO/NEW (LAMR) director Thomas V. Reifenheiser reported selling 8,099 shares of Class A Common Stock on September 14, 2026 in an open-market transaction at a weighted-average price of $149.03 per share, with individual trade prices ranging from $148.75 to $149.23. Following this sale, he directly holds 36,387 shares of Lamar Advertising Co/New. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Net Seller: 8,099 shares

Net Sell 1 txn

Insider REIFENHEISER THOMAS V

Role Director

Sold 8,099 shs ($1.21M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1	8,099	$149.0308	$1.21M

Holdings After Transaction: Class A Common Stock — 36,387 shares (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Shares sold: 8,099 shares Weighted-average sale price: $149.03 per share Sale price range: $148.75–$149.23 per share +1 more

4 metrics

Shares sold 8,099 shares Open-market sale by director Thomas V. Reifenheiser on September 14, 2026

Weighted-average sale price $149.03 per share Average price across multiple trades on September 14, 2026

Sale price range $148.75–$149.23 per share Range of prices for the multiple trades included in the reported sale

Shares owned after transaction 36,387 shares Direct holdings of Class A Common Stock by Thomas V. Reifenheiser after the sale

Key Terms

weighted-average price, open-market transaction, Class A Common Stock

3 terms

weighted-average price financial

"The price reported in Column 4 is a weighted-average price."

Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.

open-market transaction financial

"Sale in open market or private transaction"

An open-market transaction is a buy or sell of a company's shares or other securities conducted on a public exchange at the current market price, rather than through a private agreement. Investors watch these trades because they change the number of shares available and can move the price immediately—similar to how a large purchase at a busy store can raise demand and affect the checkout price—so such activity can signal market sentiment and alter ownership stakes.

Class A Common Stock financial

"These shares were sold in multiple transactions at prices ranging from $148.75 to $149.23 inclusive."

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LAMR director Thomas V. Reifenheiser report?

He reported a sale of 8,099 shares of Lamar Advertising Co/New Class A Common Stock on September 14, 2026 in an open-market transaction, as disclosed in the Form 4.

At what price did the LAMR shares sell in this Form 4 transaction?

The shares sold at a weighted-average price of $149.03 per share, with individual trades executed in a price range from $148.75 to $149.23, according to the footnote disclosure.

How many LAMR shares does Thomas V. Reifenheiser own after the reported sale?

After the sale, Thomas V. Reifenheiser directly owns 36,387 shares of Lamar Advertising Co/New Class A Common Stock, as stated in the post-transaction holdings figure.

Was the LAMR insider sale made under a Rule 10b5-1 trading plan?

No. The filing indicates that no Rule 10b5-1 trading plan is reported in connection with this sale by director Thomas V. Reifenheiser.

What type of security was involved in the LAMR insider transaction?

The transaction involved Class A Common Stock of Lamar Advertising Co/New, which is the security type reported as sold in the Form 4.

Was this LAMR transaction a purchase or a sale by the insider?

It was a sale. The Form 4 reports that Thomas V. Reifenheiser disposed of 8,099 shares of Class A Common Stock in an open-market transaction.

How many total shares did the LAMR insider sell in this Form 4?

The director sold a total of 8,099 shares of Lamar Advertising Co/New Class A Common Stock in the reported transaction on September 14, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 07:54 PM Accepted by SEC EDGAR 09/16/2026 - 07:54 PM Learn about SEC filing dates

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^*

REIFENHEISER THOMAS V

(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)
09/14/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/14/2026		S		8,099	D	$149.0308(1)	36,387	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

	/s/ James McIlwain, at attorney-in-fact	09/16/2026
	** 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)