LAMAR ADVERTISING CO/NEW - Director's Dealing 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2012-08-21

Reporting Person: ISTRE KEITH A (Chief Financial Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-21	Class A Common Stock	M	18668	$15.67	Acquired	90119	Direct
2012-08-21	Class A Common Stock	M	1332	$18.25	Acquired	91451	Direct
2012-08-21	Class A Common Stock	S	1000	$32.7901	Disposed	90451	Direct
2012-08-21	Class A Common Stock	S	300	$32.86	Disposed	90151	Direct
2012-08-21	Class A Common Stock	S	800	$32.8601	Disposed	89351	Direct
2012-08-21	Class A Common Stock	S	900	$32.87	Disposed	88451	Direct
2012-08-21	Class A Common Stock	S	1000	$32.8701	Disposed	87451	Direct
2012-08-21	Class A Common Stock	S	2600	$32.89	Disposed	84851	Direct
2012-08-21	Class A Common Stock	S	2200	$32.895	Disposed	82651	Direct
2012-08-21	Class A Common Stock	S	2624	$32.90	Disposed	80027	Direct
2012-08-21	Class A Common Stock	S	376	$32.905	Disposed	79651	Direct
2012-08-21	Class A Common Stock	S	200	$32.91	Disposed	79451	Direct
2012-08-21	Class A Common Stock	S	8000	$32.92	Disposed	71451	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-21	Stock Option (right to buy)	$15.67	M	18668	Disposed	2019-07-02	Class A Common Stock (18668)	Direct
2012-08-21	Stock Option (right to buy)	$18.25	M	1332	Disposed	2019-05-28	Class A Common Stock (1332)	Direct

F1: The option is for a total 23,333 shares which vest in 5 substantially equal installments on July 2, 2009, 2010, 2011, 2012, and 2013.

F2: The option is for a total of 109,063 shares which vest in 5 substantially equal installments on May 28, 2009, 2010, 2011, 2012, and 2013.