LAMAR ADVERTISING CO/NEW — Director's Dealing 2021

Feb 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LAMAR ADVERTISING CO/NEW (LAMR)
CIK: 0001090425
Period of Report: 2020-12-22

Reporting Person: REILLY SEAN E (Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-22	Class B Common Stock	$	G	800460	Disposed		Class A Common Stock (800460)	Direct
2020-12-22	Class B Common Stock	$	G	800460	Acquired		Class A Common Stock (800460)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock (9000000)	9000000	Indirect
Class B Common Stock	$		Class A Common Stock (757375)	757375	Indirect

Footnotes

F1: Pursuant to the terms of the Issuer's Certificate of Incorporation, the Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis, exercisable immediately, and has no expiration date.

F2: Shares held by SRAA, LLC ("SRAA") of which the reporting person is the sole manager. The manager has sole voting and dispositive power over the shares held by SRAA. The reporting person gifted shares held by him individually to SRAA.

F3: Shares held by the Reilly Family, LLC of which the reporting person is a manager.

F4: Shares held by the Jennifer and Sean Reilly Family, LLC, of which the reporting person and his spouse are members.