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 KEVIN P JR (Director, Executive Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-22	Class B Common Stock	$	G	1796039	Disposed		Class A Common Stock (1796039)	Direct
2020-12-22	Class B Common Stock	$	G	1796039	Acquired		Class A Common Stock (1796039)	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 (566211)	566211	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 Grand Pass, L.L.C. ("Grand Pass") of which the reporting person is the sole manager. The manager has sole voting and dispositive power over the shares held by Grand Pass. The reporting person gifted shares held by him individually to Grand Pass.

F3: Shares held by the Reilly Family, LLC (the "RFLLC"), of which the reporting person is the executive manager. The reporting person's three siblings are the other managers of the RFLLC. The executive manager has sole voting power over the shares held by the RFLLC, but dispositions of the shares require the approval of managers representing 75% of the limited liability company interests of the RFLLC.

F4: Shares held by Ninemile, L.L.C., of which the reporting person is the managing member.