MUMBLOW STEPHEN P 4

What Happened
Stephen P. Mumblow, a director of Lamar Advertising Co. (LAMR), was granted 678 shares (transaction code A) on 2026-05-14. The shares were issued at $0.00 per share (total reported value $0). According to the filing, 339 of the shares were fully vested on the grant date and the remaining 339 shares vest at the end of the reporting person’s one-year term as director.

Key Details

• Transaction date: 2026-05-14; Filing date: 2026-05-18 (timely Form 4 filing).
• Price: $0.00 per share; Shares acquired: 678; Reported total value: $0.
• Vesting: 339 shares vested immediately; remaining 339 vest on last day of the director’s one-year term.
• Grant source: Issuer’s 1996 Equity Incentive Plan (footnote in filing).
• Shares owned after transaction: not specified in the provided summary of the filing.

Context
This was an equity award (typical director compensation), not an open-market purchase or sale. Immediate vesting of half the grant gives the director immediate ownership of 339 shares; the remainder is contingent on continued service. Awards like this are routine for director pay and do not by themselves indicate the director is buying or selling based on private information.