LAMAR ADVERTISING CO/NEW — Director's Dealing 2014

Mar 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2014-03-20

Reporting Person: MUMBLOW STEPHEN P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-20	Class A Common Stock	M	10000	$18.25	Acquired	37276	Direct
2014-03-20	Class A Common Stock	S	10000	$52.7178	Disposed	27276	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-20	Stock Option (right to buy)	$18.25	M	10000	Disposed	2019-05-28	Class A Common Stock (10000)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $52.62 to $52.91, inclusive. The reporting person undertakes to provide to Lamar Advertising Company, any security holder of Lamar Advertising Company, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F2: 100% of the shares subject to this option are fully vested and exercisable.