LAMAR ADVERTISING CO/NEW — Director's Dealing 2018

May 7, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2018-05-04

Reporting Person: ISTRE KEITH A (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-04	Class A Common Stock	S	16075	$66.1991	Disposed	134472	Direct
2018-05-04	Class A Common Stock	M	25000	$42.21	Acquired	159472	Direct
2018-05-04	Class A Common Stock	S	25000	$66.476	Disposed	134472	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-04	Stock Option (right to buy)	$42.21	M	25000	Disposed	2023-01-24	Class A Common Stock (25000)	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 $65.81 to $66.24, inclusive. The reporting person undertakes to provide to Lamar Advertising Company, any security holder of Lamar Advertising Company, or the staff of the Securities and 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 price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $66.36 to $66.60, inclusive. The reporting person undertakes to provide to Lamar Advertising Company, any security holder of Lamar Advertising Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F3: The option became fully vested on 01/24/2017.