secwatch.observer — SEC 8-K summary
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Issuer:     LAMAR ADVERTISING CO/NEW (LAMR)
CIK:        0001090425
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001193125-23-058120
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090425/000119312523058120/0001193125-23-058120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090425/000119312523058120/d415090d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-058120

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer