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Filing Details

Accession Number:: 0001140361-12-039463
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-09-05 16:11:33
Reporting Period:: 2012-08-31

Filing Date:: 2012-09-05
Accepted Time:: 2012-09-05 16:11:33
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1090425	Lamar Advertising Cow	LAMR	Services-Advertising Agencies (7311)	721449411

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1112443	Abrams Capital Llc	222 Berkeley Street 22Nd Floor Boston MA 02116	No	No	Yes	No
1165407	Abrams Capital Management, Llc	222 Berkeley Street, 22Nd Floor Boston MA 02116	No	No	Yes	No
1292250	C David Abrams	222 Berkeley Street 22Nd Floor Boston MA 02116	No	No	Yes	No
1358706	Abrams Capital Management, L.p.	222 Berkeley Street, 22Nd Floor Boston MA 02116	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock, Par Value $0.001 Per Share	Disposition	2012-08-31	29,258	$33.27	8,129,576	No	4	S	Indirect	See Footnotes
Class A Common Stock, Par Value $0.001 Per Share	Disposition	2012-08-31	100	$33.25	8,129,476	No	4	S	Indirect	See Footnotes
Class A Common Stock, Par Value $0.001 Per Share	Disposition	2012-09-04	66,180	$33.27	8,063,296	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes

Footnotes

These securities are held by investment funds, the general partner and/or investment adviser of which is directly or indirectly controlled by David C. Abrams. In such capacity, Mr. Abrams may be deemed to beneficially own the reported securities.
These securities are held by investment funds for which Abrams Capital Management, L.P. (the "LP") serves as investment adviser. Abrams Capital Management, LLC (the "LLC") serves as the general partner of the LP. In their respective capacities, each of the LP and the LLC may be deemed to beneficially own the reported securities.
A portion of these securities are held by investment funds for which Abrams Capital, LLC ("Abrams Capital") serves as general partner. In such capacity, Abrams Capital may be deemed to beneficially own the reported securities. As of the date of this filing, the shares of Class A Common Stock that may be deemed to be beneficially owned by Abrams Capital represent less than 10% of the outstanding shares of that class of security. Accordingly, Abrams Capital has ceased to be a reporting person for purposes of Section 16.
Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.
Of the shares of Class A Common Stock sold on August 31, 2012, (i) 27,496 shares sold at $33.2742 per share and 94 shares sold at $33.25 per share may be deemed to have been beneficially owned by Abrams Capital; and (ii) all shares reported herein as having been sold on such date may be deemed to have been beneficially owned by Mr. Abrams, the LP and the LLC.
Of the shares of Class A Common Stock sold on September 4, 2012, (i) 62,339 shares sold at $33.2737 per share may be deemed to have been beneficially owned by Abrams Capital; and (ii) all shares reported herein as having been sold on such date may be deemed to have been beneficially owned by Mr. Abrams, the LP and the LLC.
As of August 31, 2012, Abrams Capital may be deemed to beneficially own 7,639,965 shares of Class A Common Stock and Mr. Abrams, the LP and the LLC may be deemed to beneficially own 8,129,476 shares of Class A Common Stock. As of September 4, 2012, Abrams Capital may be deemed to beneficially own 7,577,626 shares of Class A Common Stock and Mr. Abrams, the LP and the LLC may be deemed to beneficially own 8,063,296 shares of Class A Common Stock.