LAMAR ADVERTISING CO/NEW — Director's Dealing 2015

Mar 20, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2015-03-18

Reporting Person: REILLY SEAN E (Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-18	Class A Common Stock	M	100000	$18.25	Acquired	134060	Direct
2015-03-18	Class A Common Stock	S	100000	$58.9024	Disposed	34060	Direct
2015-03-18	Class A Common Stock	M	16444	$15.67	Acquired	50504	Direct
2015-03-18	Class A Common Stock	S	16444	$58.9024	Disposed	34060	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-18	Stock option (right to buy)	$18.25	M	100000	Disposed	2019-05-28	Class A Common Stock (100000)	Direct
2015-03-18	Stock option (right to buy)	$15.67	M	16444	Disposed	2019-07-02	Class A Common Stock (16444)	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 $58.39 to $59.35, 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: The options fully vested on May 28, 2013.

F3: The options fully vested on July 2, 2013.