SPO ADVISORY PARTNERS LP 4
4 · LAMAR ADVERTISING CO/NEW · Filed Jun 2, 2009
Insider Transaction Report
Form 4
MCDERMOTT EDWARD H
Director10% Owner
Transactions
- Award
Non-Qualified Stock Option ( right to buy )
2009-05-28+10,000→ 10,000 totalExercise: $18.25Exp: 2019-05-28→ Common Stock (10,000 underlying)
Footnotes (3)
- [F1]These options have a 10-year term and are vested as to 20% of the shares underlying such award immediately, and an additional 20% of the shares will vest on each yearly anniversary of today's grant date.
- [F2]Grant of Stock Options
- [F3]These options were granted to Edward H. McDermott ("EHM") as a director of the Issuer under the Issuer's 2009 Stock Plan. Pursuant to the partnership agreement governing SPO Partners II ("SPO Partners"), these options, owned by EHM, may be deemed to be beneficially owned by SPO Partners and certain of it's affiliates, along with any profits arising from the exercise of these options or the benefits of these options once they are vested.