Reilly group boosts disclosed Lamar Advertising (LAMR) stake to 11.7% ownership

Rhea-AI Filing Summary

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.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 29)

Lamar Advertising Company

(Name of Issuer)

Class A Common Stock, $0.001 par value

(Title of Class of Securities)

512816109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 512816109

1

Names of Reporting Persons

Reilly Family, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,000,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,000,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 512816109

1

Names of Reporting Persons

Kevin P. Reilly, Jr.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,483,007.00
6	Shared Voting Power 2,362,250.00
7	Sole Dispositive Power 2,845,257.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,845,257.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.7 %

12

Type of Reporting Person (See Instructions)

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lamar Advertising Company
(b)	Address of issuer's principal executive offices: 5321 Corporate Boulevard, Baton Rouge, Louisiana 70808
Item 2.
(a)	Name of person filing: Reilly Family, LLC Kevin P. Reilly, Jr.
(b)	Address or principal business office or, if none, residence: For each Reporting Person: c/o Lamar Advertising Company 5321 Corporate Boulevard Baton Rouge, LA 70808
(c)	Citizenship: The RFLLC is a Delaware limited liability company. The other Reporting Person is a citizen of the United States of America.
(d)	Title of class of securities: Class A Common Stock, $0.001 par value
(e)	CUSIP No.: 512816109
Item 4.	Ownership
(a)	Amount beneficially owned: See Box 9 on cover pages. For Reilly Family, LLC ("RFLLC"), consists of 9,000,000 shares of Class B Common Stock, $0.001 par value per share (the "Class B Common Stock"), which are convertible into shares of Class A Common Stock, $0.001 par value per share (the "Class A Common Stock"), on a one-for-one basis. For Mr. Reilly, includes: (i) 423,607 shares of Class A Common Stock, (ii) 11,362,250 shares of Class B Common Stock, 9,000,000 shares of which are held by the RFLLC, of which Mr. Reilly is the Executive Manager, 1,796,039 shares of which are held by Grand Pass, L.L.C ("Grand Pass") of which Mr. Reilly is the Manager and 566,211 shares of which are held by Ninemile, L.L.C. ("Ninemile"), of which Mr. Reilly is the Manager and (iii) 59,400 Common Units of Lamar Advertising Limited Partnership (the "OP"), which Common Units of the OP are redeemable by the holder for cash or shares of Lamar Advertising Company Class A Common Stock after a holding period, at the general partner's option. The Executive Manager of the RFLLC exercises sole voting power over the shares held by the RFLLC, but disposition of the shares requires the approval of 75% of the Managers of the RFLLC. The Manager of Grand Pass has shared voting and sole dispositive power over the shares held by Grand Pass. The Manager of Ninemile exercises shared voting and sole dispositive power over the shares held by Ninemile.
(b)	Percent of class: See Box 11 on cover pages. Based on 86,910,542 shares outstanding of Class A Common Stock as of December 31, 2025. For RFLLC, assumes the conversion of all Class B Common Stock into Class A Common Stock. If the 9,000,000 shares of Class B Common Stock owned by the RFLLC listed above were converted to Class A Common Stock and all other shares of Class B Common Stock remained outstanding, the RFLLC would own 9.4% of the Class A Common Stock. For Mr. Reilly, assumes the conversion of all Class B Common Stock into Class A Common Stock. If the 11,362,250 shares of Class B Common Stock, 9,000,000 shares of which are held by the RFLLC, 1,796,039 shares of which are held by Grand Pass and 566,211 shares of which are held by Ninemile, were converted to Class A Common Stock and all other shares of Class B Common Stock remained outstanding, Mr. Reilly would own 12.1% of the Class A Common Stock.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Box 5 on cover pages.
	(ii) Shared power to vote or to direct the vote: See Box 6 on cover pages.
	(iii) Sole power to dispose or to direct the disposition of: See Box 7 on cover pages. For Mr. Reilly, includes: (i) 423,607 shares of Class A Common Stock, (ii) 2,362,250 shares of Class B Common Stock, 1,796,039 shares of which are held by Grand Pass and 566,211 shares of which are held by Ninemile and (iii) 59,400 Common Units of the OP.
	(iv) Shared power to dispose or to direct the disposition of: See Box 8 on cover pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Reilly Family, LLC

Signature:	/s/Kevin P. Reilly, Jr.
Name/Title:	Kevin P. Reilly, Jr., Executive Manager, Reilly Family, LLC
Date:	02/13/2026

Kevin P. Reilly, Jr.

Signature:	/s/Kevin P. Reilly, Jr.
Name/Title:	Kevin P. Reilly, Jr.
Date:	02/13/2026

Exhibit Information

Exhibit 1 Agreement as to Joint Filing of Amendment to Schedule 13G.

FAQ

What ownership stake in Lamar Advertising (LAMR) does Reilly Family, LLC report?

Reilly Family, LLC reports beneficial ownership of 9,000,000 shares, representing 8.9% of Lamar Advertising’s Class A common stock on an as-converted basis. These shares are Class B common stock that can be converted into Class A on a one-for-one basis.

How much of Lamar Advertising (LAMR) does Kevin P. Reilly, Jr. beneficially own?

Kevin P. Reilly, Jr. reports beneficial ownership of 11,845,257 shares, equal to 11.7% of the Class A common stock. This includes Class A shares, Class B shares held through several entities, and Common Units of Lamar Advertising Limited Partnership.

What is the difference between Class A and Class B shares of Lamar Advertising (LAMR)?

The filing states that Class B common stock is convertible into Class A common stock on a one-for-one basis. Ownership percentages for Reilly Family, LLC and Kevin P. Reilly, Jr. are calculated assuming conversion of all Class B into Class A shares.

How are Reilly-related holdings in Lamar Advertising (LAMR) structured across entities?

Kevin P. Reilly, Jr.’s holdings include shares held directly and through Reilly Family, LLC, Grand Pass, L.L.C., and Ninemile, L.L.C.. He is Executive Manager of Reilly Family, LLC and Manager of Grand Pass and Ninemile, which hold substantial Class B common stock positions.

What share count does Lamar Advertising (LAMR) use to calculate these ownership percentages?

Ownership percentages are based on 86,910,542 shares of Class A common stock outstanding as of December 31, 2025. The calculations assume conversion of the reported Class B common stock into Class A on a one-for-one basis for each reporting person.

What voting and dispositive powers are reported for Reilly Family, LLC in Lamar Advertising (LAMR)?

Reilly Family, LLC reports sole voting power and sole dispositive power over 9,000,000 shares. The Executive Manager exercises sole voting power, while disposition of these shares requires approval from 75% of the Managers of the LLC, according to the filing.