Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-24

Lamar Advertising Co. (LAMR)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$8,463,353
Sean Reilly total, FY2025
1st
CEO pay percentile vs peers
125:1
CEO-to-median pay ratio
98.13%
Say-on-pay support, latest vote
Companies that benchmark against LAMR
3 companies name LAMR as a compensation peer

Each company listed discloses LAMR in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LAMR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Sean Reilly$900,000$0$5,838,000$0$720,000$0$1,005,353$8,463,353
Chief Executive Officer and President
Jay Johnson700,00003,269,2800476,0000289,7674,735,047
Executive Vice President, Chief Financial Officer and Treasurer
Kevin P. Reilly, Jr.100,00002,568,7200200,0000338,0783,206,798
Executive Chairman of the Board

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Sean Reilly$8,463,353$9,360,034$6,281,977−896,681
Jay Johnson4,735,0475,406,7213,460,676−671,674
Kevin P. Reilly, Jr.3,206,798

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Jay JohnsonCFO, Treasurer, EVP2026-05-11D10,000$157$1,570,200CommonForm 4 ↗
Wendell ReillyDirector2026-05-14A50800CommonForm 4 ↗
John E. Koerner, IIIDirector2026-05-14A64400CommonForm 4 ↗
Marshall A. LoebDirector2026-05-14A54200CommonForm 4 ↗
Elizabeth ThompsonDirector2026-05-14A54200CommonForm 4 ↗
Nancy FletcherDirector2026-05-14A64400CommonForm 4 ↗
Mitch LandrieuDirector2026-05-14A54200CommonForm 4 ↗
Thomas V. ReifenheiserDirector2026-05-14A54200CommonForm 4 ↗
Stephen P. MumblowDirector2026-05-14A67800CommonForm 4 ↗
Anna ReillyDirector2026-06-12A48500CommonForm 4 ↗
Thomas V. ReifenheiserDirector2026-06-23D32800CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Sean E. ReillyPSU2025-03-1132,50050,00060,000$5,838,000
Jay JohnsonPSU2025-03-1118,20028,00033,6003,269,280
Kevin P. Reilly JrPSU2025-03-1114,30022,00026,4002,568,720
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Sean E. Reilly$0$5,838,000$0100.0%
Jay Johnson03,269,2800100.0%
Kevin P. Reilly Jr02,568,7200100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jay JohnsonPSU33,600$4,253,088
ReillyPSU60,0007,594,800
ReillyPSU26,4002,784,760
05

Incentive-plan design — the Compensation Discussion & Analysis

The primary objective of our executive compensation program is to retain and reward executive officers who contribute to our long-term success. We believe this requires a competitive compensation structure both as compared to similarly situated companies in the media industry and other companies that are our peers in terms of annual revenues. Additionally, we seek to align a significant portion of executive officer compensation to the achievement of specified Company performance goals.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantnot disclosed
Clawback policytrue
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-14214,218,3854,075,610163,48098.13%Passed
20232023-05-10215,144,2584,515,233134,54597.94%Passed
20202020-05-28217,352,3811,330,787259,89999.39%Passed
20172017-05-25215,901,625649,89564,21899.7%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1498.13%a
20232023-05-1097.94%b
20202020-05-2899.39%c

a. Approved under the standard stated in the filing — “Abstentions, broker non-votes, and votes withheld will not be treated as votes cast for this purpose and will not affect the outcome of the election.”.

b. Approved under the standard stated in the filing — “Abstentions, broker non-votes, and votes withheld will not be treated as votes cast for this purpose and will not affect the outcome of the election.”.

c. Approved under the standard stated in the filing — “Abstentions, broker non-votes, and votes withheld will not be treated as votes cast for this purpose and will not affect the outcome of the election.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)125 : 1
CEO total compensation$8,463,353
Median employee compensation$67,876
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Stephen P. MumblowIndependent · Audit (Chair) · Compensation · Nominating and Governance$83,500$100,000$0$0$0$183,500
John E. Koerner, IIIIndependent · Nominating and Governance (Chair) · Audit · Compensation72,50095,000000167,500
Thomas V. ReifenheiserIndependent · Compensation (Chair) · Audit · Nominating and Governance72,50095,000000167,500
Marshall A. LoebIndependent · Audit61,25080,000000141,250
Nancy FletcherIndependent · Compensation55,00080,000000135,000
Elizabeth ThompsonIndependent · Nominating and Governance53,00080,000000133,000
Wendell ReillyNot independent52,00075,000000127,000
Anna ReillyNot independent50,00075,000000125,000
Mitch LandrieuIndependent · Partial-year service · Newly elected37,50075,000000112,500
Kevin P. Reilly, JrEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$9,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 20,000 / 20,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$537,250
Equity awards (grant-date value)$755,000
All other compensation$0
Total cost of the board$1,292,250

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Lamar Advertising Co.2025Sean Reilly$900,000$5,838,000$0$720,000$8,463,353

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Lamar Advertising Co. in fiscal 2025?
As disclosed, the highest-paid executive at Lamar Advertising Co. in fiscal 2025 was Sean Reilly, Chief Executive Officer and President, with total compensation of $8,463,353.
How does Lamar Advertising Co.'s chief executive pay compare to its disclosed peer group?
The filing shows that the CEO's pay placed him in the 1st percentile of the disclosed peer group.
What is Lamar Advertising Co.'s CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 125:1.
How did shareholders vote on Lamar Advertising Co.'s executive compensation?
Shareholders approved the executive compensation plan with 98.13% support in the latest vote.
How much does Lamar Advertising Co. spend in total on board compensation for fiscal 2025?
The filing reports total board compensation for fiscal 2025 at $1,292,250.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Sean ReillyDEF 14A2026-04-020001193125-26-140058Section “2025 Summary Compensation Table”. As printed: 8,463,353. Filing ↗machine: r5 · c22 · span 310159–310168
2Section 01, Jay JohnsonDEF 14A2026-04-020001193125-26-140058Section “2025 Summary Compensation Table”. As printed: 4,735,047. Filing ↗machine: r8 · c22 · span 321474–321483
3Section 01, Kevin P. Reilly, Jr.DEF 14A2026-04-020001193125-26-140058Section “2025 Summary Compensation Table”. As printed: 3,206,798. Filing ↗machine: t67 · r2 · c23 · span 310159–310168
4Section 03, Sean E. Reilly PSUDEF 14A2026-04-020001193125-26-140058Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t75 · r6 · c20 · span 345748–345757
5Section 03, Jay Johnson PSUDEF 14A2026-04-020001193125-26-140058Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t75 · r8 · c20 · span 348403–348412
6Section 03, Kevin P. Reilly Jr PSUDEF 14A2026-04-020001193125-26-140058Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t75 · r4 · c20 · span 343093–343102
7Section 07, pay ratioDEF 14A2026-04-020001193125-26-140058Section “CEO Pay Ratio”. As printed: 125 : 1. Filing ↗machine: t88 · span 375494–375616
8Section 08, Stephen P. MumblowDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 183,500. Filing ↗machine: t90 · r6 · c11 · span 386761–386768
9Section 08, John E. Koerner, IIIDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 167,500. Filing ↗machine: t90 · r3 · c11 · span 383441–383448
10Section 08, Thomas V. ReifenheiserDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 167,500. Filing ↗machine: t90 · r7 · c11 · span 387839–387846
11Section 08, Marshall A. LoebDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 141,250. Filing ↗machine: t90 · r5 · c11 · span 385661–385668
12Section 08, Nancy FletcherDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 135,000. Filing ↗machine: t90 · r2 · c11 · span 382365–382372
13Section 08, Elizabeth ThompsonDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 133,000. Filing ↗machine: t90 · r10 · c11 · span 391100–391107
14Section 08, Wendell ReillyDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 127,000. Filing ↗machine: t90 · r9 · c11 · span 390001–390008
15Section 08, Anna ReillyDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 125,000. Filing ↗machine: t90 · r8 · c11 · span 388931–388938
16Section 08, Mitch LandrieuDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 112,500. Filing ↗machine: t90 · r4 · c11 · span 384592–384599
17Section 08, Kevin P. Reilly, JrDEF 14A2026-04-020001193125-26-140058Section “Director Compensation”. As printed: 0. Filing ↗
18Section 02, Jay Johnson 2026-05-11Form 42026-05-120001192482-26-000261Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Wendell Reilly 2026-05-14Form 42026-05-180001192482-26-000275Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, John E. Koerner, III 2026-05-14Form 42026-05-180001192482-26-000276Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Marshall A. Loeb 2026-05-14Form 42026-05-180001192482-26-000273Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Elizabeth Thompson 2026-05-14Form 42026-05-180001192482-26-000274Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Nancy Fletcher 2026-05-14Form 42026-05-180001192482-26-000277Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Mitch Landrieu 2026-05-14Form 42026-05-180001192482-26-000279Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Thomas V. Reifenheiser 2026-05-14Form 42026-05-180001192482-26-000278Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Stephen P. Mumblow 2026-05-14Form 42026-05-180001192482-26-000272Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Anna Reilly 2026-06-12Form 42026-06-150001192482-26-000349Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Thomas V. Reifenheiser 2026-06-23Form 42026-06-240001192482-26-000390Insider equity transaction reported since the proxy statement. Filing ↗
29Section 06, 2026 voteForm 8-K2026-05-190001193125-26-230735Item 5.07 · say-on-pay result. As reported: 98.13% (votes for as printed: 214,218,385.49). Filing ↗
30Section 06, 2023 voteForm 8-K2023-05-160001193125-23-146093Item 5.07 · say-on-pay result. As reported: 97.94% (votes for as printed: 215,144,258.49). Filing ↗
31Section 06, 2020 voteForm 8-K2020-06-030001193125-20-159415Item 5.07 · say-on-pay result. As reported: 99.39% (votes for as printed: 217,352,381). Filing ↗machine: span 36902–39282
32Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
33Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
34Section 09b board cost (computed)ComputedcomputedCash 537,250 + equity 755,000 + all other 0 = 1,292,250, summed across the director compensation table rows.machine: formula: Σ = 1,292,250
35Lamar Advertising Co. (subject), Section 10b CEO totalDEF 14A2026-04-020001193125-26-140058CEO total compensation as printed in Lamar Advertising Co.'s own proxy. As printed: 8,463,353. Filing ↗machine: r5 · c22 · span 310159–310168