KOERNER JOHN E III 4

What Happened John E. Koerner III, a director of Lamar Advertising Co. (LAMR), was granted 644 shares under the company's 1996 Equity Incentive Plan on 2026-05-14. The Form 4 reports an acquisition (award) of 644 shares at $0.00 per share (total reported value $0). Per the grant terms, 322 shares vested immediately and the remaining 322 shares vest at the end of the reporting person's one-year term as director.

Key Details

• Transaction date: 2026-05-14; reported on Form 4 filed 2026-05-18 (timely filing).
• Transaction type/code: Award/Grant (A).
• Shares granted: 644; grant price reported $0.00 (total $0).
• Vesting: 322 shares vested on grant date; 322 shares vest at end of one-year director term (footnote F1).
• Shares owned after transaction: Not specified in the provided filing details.
• Plan: Grants issued under the Issuer's 1996 Equity Incentive Plan.

Context This was a compensation award to a director, not an open-market purchase or sale. Such grants are routine director compensation and don't necessarily signal the director buying or selling based on private views of the company's prospects. The immediate vesting of half the award provides some current ownership; the remainder is service-vesting tied to continued board service.