Landrieu Mitchell 4

What Happened
Landrieu Mitchell, a director of Lamar Advertising Co. (LAMR), received an award of 542 shares on May 14, 2026. The Form 4 reports the acquisition as an award/grant (code A) of 542 shares at $0.00 (no cash paid). According to the filing, 271 shares were fully vested on the grant date and the remaining 271 shares will vest at the end of the reporting person’s one‑year term as director.

Key Details

• Transaction date: 2026-05-14; Transaction type/code: Award (A) — 542 shares at $0.00.
• Vesting: 271 shares vested immediately; 271 shares vest on the last day of the reporting person’s one‑year director term (per footnote).
• Shares owned after transaction: not specified in the provided filing.
• Filing date: 2026-05-18 (filed four days after the transaction date); Form 4s are generally due within two business days, so this filing appears later than typical reporting timeliness.
• Grant plan: Award made under the Issuer’s 1996 Equity Incentive Plan (per footnote).

Context
This was an equity award for director compensation, not an open‑market purchase or sale. Grants like this are routine compensation for service and do not by themselves indicate the director’s trading sentiment. The reported $0.00 in the Form 4 reflects that the shares were granted rather than bought; fair market value or grant‑date compensation expense may be disclosed elsewhere (e.g., proxy statements).