---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-058120"
form_type: "8-K"
ticker: "LAMR"
cik: "0001090425"
company_name: "LAMAR ADVERTISING CO/NEW"
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T14:08:47.607300+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-058120
- form_type: 8-K
- ticker: LAMR
- cik: 0001090425
- company_name: LAMAR ADVERTISING CO/NEW
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090425/000119312523058120/0001193125-23-058120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090425/000119312523058120/d415090d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-058120
- JSON: https://secwatch.observer/filing/0001193125-23-058120.json
- Plain text: https://secwatch.observer/filing/0001193125-23-058120.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.