Lamar issues performance-based LTIP units to three executives; changes annual equity award practice

LAMAR ADVERTISING CO/NEW

Issued 22,000 LTIP units to Kevin P. Reilly Jr., 44,000 to Sean Reilly, and 22,000 to Jay L. Johnson.
Vesting based on 2023 revenue growth (≥3.9% for 100%) and EBITDA growth (≥4.0% for 100%).
Company shifted from annual Class A stock awards to performance-based LTIP units; no stock awards in Feb 2023 or 2024.
LTIP units subject to forfeiture if performance targets not met; issued under 1996 Equity Incentive Plan.

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