Welcome to our dedicated page for Lamar Advertising Co SEC filings (Ticker: LAMR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Lamar Advertising Company (NASDAQ: LAMR) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as an outdoor advertising Real Estate Investment Trust (REIT). Lamar files current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K, along with other documents, to describe its financial condition, operating performance, capital structure, risk factors and corporate actions.
In its Form 8-K filings, Lamar reports material events such as quarterly and year-to-date operating results, dividend declarations, acquisitions, unregistered sales of equity securities and financing transactions. Examples include announcements of quarterly cash and special dividends on Class A and Class B common stock, operating results for specific quarters, the issuance of common units by its operating partnership in connection with the acquisition of Verde Outdoor billboard assets, and institutional private placements of 5.375% Senior Notes due 2033 by its wholly owned subsidiary Lamar Media Corp.
Other 8-K filings describe amendments to Lamar Media’s senior credit agreement that establish new Term B Loan facilities, including details on maturities, interest rate structures and the use of proceeds to refinance existing term loans and reduce borrowings under the revolving credit facility. These filings also summarize key covenants and events of default associated with the notes and credit agreements.
Lamar’s periodic reports discuss its REIT status and highlight non-GAAP performance measures such as adjusted EBITDA, free cash flow, funds from operations (FFO), adjusted funds from operations (AFFO), diluted AFFO per share, outdoor operating income, acquisition-adjusted results and acquisition-adjusted consolidated expense. The company explains how each measure is calculated and how management uses them to evaluate operations.
On Stock Titan, AI-powered tools help interpret these filings by summarizing complex sections, highlighting definitions of key metrics like FFO and AFFO, and surfacing information on dividends, leverage, liquidity and acquisition activity. Users can quickly identify material events, follow changes in Lamar’s capital structure and review historical disclosures without reading every page of each filing.
Lamar Advertising executive Jay LeCoryelle Johnson, the company’s CFO, Treasurer and EVP, reported indirect equity changes tied to long-term incentive awards. An entity associated with him, Westview Capital Partners, LLC, exercised 1,260 LTIP Units of Lamar Advertising Limited Partnership into 1,260 Common Units, which were then redeemed for 1,260 shares of Lamar’s Class A Common Stock at a stated price of $0.00 per share as a derivative conversion. The filing also updates indirect LTIP Unit holdings through Brawley Capital Partners, L.L.C. and Blair Road, L.L.C., and shows 10,000 shares of Class A Common Stock held directly by Johnson.
Lamar Advertising Company declared a quarterly cash dividend of $1.60 per share, payable on March 31, 2026, to stockholders of record on March 16, 2026, for both its Class A and Class B common stock. The company expects aggregate quarterly distributions to stockholders in 2026, including this payment, to total at least $6.40 per common share.
The board also extended its capital return programs. The stock repurchase program allows repurchases of up to an additional $250 million of Class A common stock, while a debt repurchase program authorizes Lamar Media Corp. to repurchase up to $250 million of its senior notes and other indebtedness. These programs, previously expiring March 31, 2026, now run through September 30, 2027 and may be extended, suspended or discontinued at any time. Lamar has already repurchased $150 million under the stock program, which was increased to an overall size of $400 million, leaving $250 million available.
Lamar Advertising executive Ross Lamar reported stock-based compensation activity. He acquired 1,600 shares of Class A common stock as a grant or award on February 18, 2026, with no cash price per share, certified under the company’s performance-equity bonus program.
On the same date, 444 shares of Class A common stock were disposed of at $133.73 per share to satisfy a tax liability by delivering securities. After these transactions, his directly owned Class A common stock holdings were 12,819 shares.
Lamar Advertising Company Chief Executive Officer Sean E. Reilly reported a forfeiture of 20,965 LTIP Units of Lamar Advertising Limited Partnership to the issuer. These incentive units had been granted under Lamar’s 1996 Equity Incentive Plan and were subject to 2025 performance goals. The amount forfeited, including dividend equivalents, reflects the Compensation Committee’s determination of 2025 performance on February 18, 2026. After this disposition, Reilly directly holds 39,035 LTIP Units from this award, and a separate line in the filing shows 126,000 previously issued and vested LTIP Units held directly.
Lamar Advertising Company Executive Chairman Kevin P. Reilly Jr. reported a disposition of 9,224 LTIP Units of Lamar Advertising Limited Partnership to the issuer on February 18, 2026. The disposition occurred at a price of $0.00 per unit and reflects forfeiture tied to 2025 performance goals under Lamar's 1996 Equity Incentive Plan.
According to the disclosure, these LTIP Units were originally awarded subject to forfeiture based on performance results for 2025 as determined by the Compensation Committee. The forfeited portion, including associated dividends, represents the amount shown in the transaction. The filing also notes additional LTIP Units previously issued and vested under the same plan that can convert into partnership units redeemable for cash or Class A common stock on a one-for-one basis.
Lamar Advertising Company CFO Jay LeCoryelle Johnson reported a disposition of 11,740 LTIP Units back to the company’s operating partnership. The Form 4 shows this as a disposition to the issuer, with no price per unit, leaving 21,860 LTIP Units directly owned afterward.
Footnotes explain these LTIP Units were part of a performance-based award tied to 2025 goals under Lamar’s equity incentive plan, and the 11,740-unit amount represents the portion forfeited when 2025 performance results were determined on February 18, 2026. Johnson also has indirect LTIP Unit holdings through Westview Capital Partners, LLC and Blair Road, L.L.C., with 19,800 and 33,600 LTIP Units respectively following the reported date.
Lamar Advertising Company and subsidiary Lamar Media Corp. describe a large, diversified out-of-home advertising business spanning billboards, logo signs and transit displays across the U.S. and Canada. As of December 31, 2025, the company operated about 159,300 billboard displays, 5,500 of which were digital, plus 144,400 logo displays and 40,600 transit displays.
Total 2025 revenues were $2,266.2 million, with billboard, logo and transit activities all contributing. Lamar highlights its REIT structure, capital allocation focus and heavy investment in digital, including $180.8 million of 2025 capital expenditures. The filing also emphasizes substantial leverage at Lamar Media, with about $3.42 billion of debt outstanding, exposure to rising interest rates, regulatory risks around billboards and digital displays, contract renewal risk for logo and transit concessions, and dependence on advertising demand and broader economic conditions.
Lamar Advertising Company reported steady growth for the quarter and year ended December 31, 2025 and issued 2026 guidance. Fourth-quarter net revenues were $595.9 million, up 2.8% from 2024, with net income of $154.7 million versus a $1.0 million loss, helped by favorable comparisons to a prior asset-retirement charge. Adjusted EBITDA rose 3.7% to $288.9 million, while diluted AFFO per share increased 1.4% to $2.24.
For 2025, net revenues reached $2.27 billion, up 2.7%, and net income was $593.1 million, a 63.4% increase driven by a $68.6 million gain on the sale of Lamar’s Vistar Media stake and the prior-year depreciation impact. Adjusted EBITDA grew to $1.06 billion, and AFFO rose to $846.7 million, with diluted AFFO per share up 3.4% to $8.26. Free cash flow declined 5.3% to $696.6 million as capital spending increased, particularly on digital billboards.
As of December 31, 2025, Lamar had $807.0 million in liquidity, including $64.8 million of cash and $742.2 million available on its revolving credit facility, with $3.42 billion of total debt. For 2026, the company expects net income per diluted share between $5.72 and $5.83 and diluted AFFO per share between $8.50 and $8.70.
Lamar Advertising Company received an updated ownership report from the Reilly family group. Reilly Family, LLC reports beneficial ownership of 9,000,000 shares, representing 8.9% of the Class A common stock on an as-converted basis. Kevin P. Reilly, Jr. reports beneficial ownership of 11,845,257 shares, or 11.7% of the Class A common stock, including Class A shares, Class B shares and partnership units. The filing explains that Class B common stock is convertible into Class A common stock on a one-for-one basis and that Reilly holds interests through several entities, including Reilly Family, LLC, Grand Pass, L.L.C., and Ninemile, L.L.C.