REILLY ANNA 4

What Happened
Anna Reilly, a director of Lamar Advertising Co. (LAMR), was granted 485 shares as an equity award on 2026-06-12. The shares were issued at $0.00 (award/grant, code A). Of the 485 shares, 243 shares vested immediately on the grant date and 242 shares will vest on the last day of her one-year term as director. The award was granted under the Issuer's 1996 Equity Incentive Plan and was approved by the Compensation Committee upon her re-election.

Key Details

• Transaction date: 2026-06-12; Form 4 filed: 2026-06-15 (timely filing).
• Transaction type/code: Award/Grant (A).
• Amount: 485 shares acquired at $0.00 per share (total cash paid $0).
• Vesting: 243 shares fully vested on grant date; remaining 242 vest at end of her one-year director term.
• Plan/conditions: Granted under the 1996 Equity Incentive Plan; award conditioned on Hart-Scott-Rodino clearance, which was satisfied the business day before the grant.
• Shares owned after transaction: not specified in this filing.

Context
Director stock awards are commonly used as compensation for board service and are not the same as an open-market purchase or sale. Because this was an awarded grant (not a purchase), it should be viewed as routine director compensation rather than a direct market-confidence signal.