Lamar Advertising Co. Names New Executive Chairman, CEO Employment Agreement
Ticker: LAMR · Form: 8-K · Filed: Mar 18, 2024 · CIK: 1090425
Sentiment: neutral
Topics: executive-compensation, board-of-directors, leadership-change
TL;DR
Lamar Advertising Co. shuffles leadership: Reilly Jr. is Exec Chairman, Cosgrove joins board, CEO Sean Reilly gets a new employment deal.
AI Summary
Lamar Advertising Co. announced on March 12, 2024, the appointment of Kevin P. Reilly Jr. as Executive Chairman and the election of Michael J. Cosgrove to its Board of Directors. Additionally, the company entered into a new employment agreement with its CEO, Sean Reilly, effective March 12, 2024, which includes an annual base salary of $900,000.
Why It Matters
This filing details significant leadership changes and executive compensation adjustments, which can impact investor confidence and the company's strategic direction.
Risk Assessment
Risk Level: low — The filing primarily concerns executive appointments and employment agreements, which are standard corporate governance events and do not indicate immediate financial distress or significant operational changes.
Key Numbers
- $900,000 — CEO Annual Base Salary (New employment agreement for Sean Reilly)
Key Players & Entities
- Lamar Advertising Co. (company) — Registrant
- Kevin P. Reilly Jr. (person) — Appointed Executive Chairman
- Michael J. Cosgrove (person) — Elected to Board of Directors
- Sean Reilly (person) — CEO, entered into new employment agreement
- $900,000 (dollar_amount) — Annual base salary for CEO Sean Reilly
FAQ
What is the effective date of the new employment agreement for CEO Sean Reilly?
The new employment agreement for CEO Sean Reilly is effective March 12, 2024.
Who has been appointed as the new Executive Chairman of Lamar Advertising Co.?
Kevin P. Reilly Jr. has been appointed as the new Executive Chairman of Lamar Advertising Co.
Who was elected to the Board of Directors?
Michael J. Cosgrove was elected to the Board of Directors.
What is the annual base salary stipulated in Sean Reilly's new employment agreement?
The annual base salary stipulated in Sean Reilly's new employment agreement is $900,000.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is March 12, 2024.
Filing Stats: 719 words · 3 min read · ~2 pages · Grade level 11.2 · Accepted 2024-03-18 16:33:03
Key Financial Figures
- $0.001 — which registered Class A common stock, $0.001 par value LAMR The NASDAQ Stock Mar
- $700,000 — fficer & President, shall increase from $700,000 to $900,000. The annual base salary o
- $900,000 — sident, shall increase from $700,000 to $900,000. The annual base salary of Jay L. Joh
- $600,000 — fficer & Treasurer, shall increase from $600,000 to $700,000. The annual base salary o
Filing Documents
- d787061d8k.htm (8-K) — 28KB
- 0001193125-24-070196.txt ( ) — 144KB
- lamr-20240312.xsd (EX-101.SCH) — 3KB
- lamr-20240312_lab.xml (EX-101.LAB) — 17KB
- lamr-20240312_pre.xml (EX-101.PRE) — 11KB
- d787061d8k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 18, 2024 LAMAR ADVERTISING COMPANY By: /s/ Jay L. Johnson Jay L. Johnson EVP, Chief Financial Officer & Treasurer