Lamar Advertising CFO Converts LTIP Units into 7,600 Class A Common Shares

Executive Summary

On November 3, 2026, Jay LeCoryelle Johnson, Chief Financial Officer, Treasurer, and Executive Vice President of Lamar Advertising Company ($LAMR), reported a transaction executed on November 2, 2026. Through Westview Capital Partners, LLC, Johnson converted 7,600 Long-Term Incentive Plan (LTIP) units of Lamar Advertising Limited Partnership into common partnership units, which were then redeemed for 7,600 shares of Lamar Class A Common Stock at $0 per share.

Transaction Breakdown

• Security: Class A Common Stock
• Transaction Code: M (Exercise or conversion of derivative security)
• Shares Acquired: 7,600 shares
• Transaction Price: $0.00
• Ownership Form: Indirect (held by Westview Capital Partners, LLC, in which the reporting person is a member and manager)
• Derivative Activity: 7,600 LTIP Units were converted to Common Units and redeemed for Class A Common Stock. Following the transaction, Westview Capital Partners, LLC holds 10,940 LTIP Units.

Additional Derivative Holdings

Following the reported transactions, Johnson also holds substantial LTIP positions:

• Direct Ownership: 33,600 LTIP Units
• Indirect via Brawley Capital Partners, L.L.C.: 21,860 LTIP Units
• Indirect via Blair Road, L.L.C.: 33,600 LTIP Units

Market and Trading Assessment

This filing represents standard partnership equity unit restructuring and redemption into common equity pursuant to the partnership agreement and equity incentive plan. Because this transaction involves no open-market purchase or sale of common stock, its informational impact on market sentiment is considered Low.