SCHEDULE: FMR LLC Discloses 5.1% Stake in Lamar Advertising
Beneficial Ownership Disclosure
FMR LLC and Abigail P. Johnson have disclosed a beneficial ownership of 5.1% of Lamar Advertising Co's Class A Common Stock as of June 30, 2025.
Summary
- FMR LLC and Abigail P. Johnson reported beneficial ownership of 4,513,297.15 shares of Lamar Advertising Co's Class A Common Stock.
- This ownership represents 5.1% of the total outstanding Class A Common Stock.
- The beneficial ownership was reported as of June 30, 2025.
- FMR LLC holds sole voting power over 4,387,788.79 shares and sole dispositive power over 4,513,297.15 shares.
- Abigail P. Johnson, as a Director, Chairman, and Chief Executive Officer of FMR LLC, is deemed to beneficially own the same aggregate amount of shares due to her relationship with FMR LLC and the Johnson family's controlling interest in FMR LLC.
- The filing indicates that while other persons may have rights to receive dividends or proceeds from these securities, no single other person's interest exceeds 5% of the class.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of beneficial ownership, providing factual information without indicating positive or negative sentiment regarding the issuer's performance or outlook.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of beneficial ownership by a large institutional investor in Lamar Advertising Co, a prominent player in the outdoor advertising industry. It does not provide specific insights into broader industry trends or competitive dynamics, but rather reflects an investment position.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | Disclosure of the Johnson family's predominant ownership (49% voting power) of FMR LLC's Series B voting common shares and their shareholders' voting agreement, which may deem them a controlling group with respect to FMR LLC. | NA | Clarifies the control structure of the reporting entity, FMR LLC, and its relationship to Abigail P. Johnson, providing transparency on the ultimate beneficial ownership and control of the reported shares. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional ownership stake in Lamar Advertising Co, which can be a factor in assessing institutional confidence.
- Investment Professionals: Offers data points for tracking institutional holdings and understanding the ownership structure of Lamar Advertising Co.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Effective date of Power of Attorney for Richard Bourgelas, authorizing him to sign on behalf of FMR LLC and Abigail P. Johnson. |
| 08/08/2023 | Date of previous Schedule 13G filing by FMR LLC where the Power of Attorney was incorporated by reference. |
| 06/30/2025 | Date of event which requires filing of this statement, representing the beneficial ownership reporting date. |
| 08/05/2025 | Date of signing and filing of this Schedule 13G. |
Keywords
Lamar Advertising, FMR LLC, Abigail P. Johnson, Class A Common Stock, Beneficial Ownership, SEC Filing, Schedule 13G, Investment Management, Outdoor Advertising
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