Reilly Ross Lamar 4
4 · LAMAR ADVERTISING CO/NEW · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
LAMR EVP Reilly Ross Lamar Receives 24,000 LTIP Units
What Happened
Reilly Ross Lamar, EVP and President of Lamar’s Outdoor Division, was granted 24,000 LTIP Units (a derivative equity award) on March 10, 2026. The units were granted at $0.00 (no cash paid). LTIP Units convert, upon certain events and vesting, into common partnership units of Lamar’s operating partnership, which are redeemable one-for-one for cash or Class A common stock of Lamar at the company’s election.
Key Details
- Transaction date: 2026-03-10; Form 4 filed 2026-03-12 (timely filing).
- Amount: 24,000 LTIP Units; reported acquisition price $0.00 (award). Transaction code: A (award/grant).
- Vesting/conditions: Units are performance-based and subject to forfeiture; they vest upon certification of Lamar’s 2026 financial results (expected Feb 2027), require continued employment, and are subject to Compensation Committee discretion. The grant represents the maximum payout (120% of target) if performance goals are met.
- Post-transaction shares owned: Not specified in the provided Form 4 excerpt.
- Nature: Derivative award (not an open-market buy or sale) — no immediate cash proceeds or sale.
Context
This is a long-term incentive award tied to company performance for 2026; such grants are routine executive compensation and do not represent an immediate purchase or sale of stock. The units only convert to redeemable common units if vesting/performance conditions are met.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-03-10+24,000→ 24,000 total→ Class A Common Stock (24,000 underlying)
Footnotes (2)
- [F1]These LTIP Units ("LTIP Units") of Lamar Advertising Limited Partnership (the "OP"), the operating partnership of Lamar Advertising Company ("Lamar"), were issued under Lamar's 1996 Equity Incentive Plan, as amended. LTIP Units are a class of units of the OP that, following the occurrence of certain events and upon vesting, convert automatically into an equivalent number of common partnership units of the OP ("Common Units"). Common Units are redeemable by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election.
- [F2]These LTIP Units are subject to forfeiture based on the achievement of financial performance goals by Lamar, and will vest upon certification of Lamar's financial results for 2026, expected to occur in February 2027, subject to the reporting person's continued employment at Lamar and the discretion of the Compensation Committee. The number of LTIP Units issued is the maximum number achievable by such reporting person and represents achievement of financial performance goals at 120% of target.