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LAMAR ADVERTISING CO/NEW·4

Feb 20, 4:08 PM ET

REILLY KEVIN P JR 4

Research Summary

AI-generated summary

Updated

Lamar (LAMR) 10% Owner Kevin P. Reilly Jr. Forfeits 9,224 LTIP Units

What Happened
Kevin P. Reilly Jr., a 10% owner of Lamar Advertising Co. (LAMR), had 9,224 LTIP Units of Lamar Advertising Limited Partnership (derivative awards) forfeited on February 18, 2026. The units were disposed to the issuer with $0 proceeds — this was a forfeiture of performance-based LTIP awards, not a cash sale.

Key Details

  • Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely, not late).
  • Transaction type/code: Disposition to issuer (D) — forfeiture of derivative LTIP Units.
  • Amount: 9,224 LTIP Units; Price/proceeds: $0 (amount forfeited, including dividends per footnote).
  • Shares owned after transaction: Not specified in the provided filing details.
  • Footnotes: F1/F3 — LTIP Units convert to common partnership units upon vesting and those common units are redeemable one-for-one for cash or Class A stock at Lamar’s election. F2 — the forfeiture reflects the portion of the award (including dividends) forfeited when the Compensation Committee determined 2025 performance results on Feb 18, 2026.

Context
LTIP Units are performance-based, derivative awards that may convert into partnership/common units; a forfeiture means the awards were canceled due to unmet performance criteria and did not generate cash proceeds. This is a reporting of award forfeiture by a significant (10%) holder and should not be read as an open-market sale or purchase signal.