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Filing Details

Accession Number:: 0001181431-12-066049
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-12-19 19:35:56
Reporting Period:: 2012-12-17

Filing Date:: 2012-12-19
Accepted Time:: 2012-12-19 19:35:56
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
919468	Spo Advisory Corp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
948279	Sf Advisory Partners Lp	591 Redwood Highway , Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1046206	Spo Partners Ii Lp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1202553	H John Scully	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252456	Spo Advisory Partners Lp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252458	San Francisco Partners Lp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252464	H Edward Mcdermott	591 Redwood Highway , Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252480	Foundation Snow Phoebe	591 Redwood Highway , Suite 3215 Mill Valley CA 94941	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
Common Stock	Disposition	2012-12-17	3,000,000	$39.21	10,108,514	No	4	S	Indirect	See footnotes

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

Footnotes

The entities and individuals directly selling these shares reported in this filing are SPO Partners II, L.P. ("SPO Partners"), which sold 2,918,700 shares, San Francisco Partners, L.P. ("SF Partners"), which sold 64,900 shares, and Phoebe Snow Foundation ("PSF"), which sold 16,400 shares. The range of prices for the sales on 12/17/12, reported on Line 1 above, was $39.15-39.34.
As a result of the sales causing this filing, 9,656,684 shares are owned directly by SPO Partners, and may be deemed to be indirectly beneficially owned by (i) SPO Advisory Partners, L.P. ("SPO Advisory"), the sole general partner of SPO Partners, (ii) SPO Advisory Corp. ("SPO Corp."), the sole general partner of SPO Advisory, and (iii) John H. Scully ("JHS") and Edward H. McDermott ("EHM"), the two controlling persons of SPO Corp. Additionally, as a result of the sales causing this filing, 451,830 shares are owned directly by SF Partners, and may be deemed to be indirectly beneficially owned by (i) SF Advisory Partners, L.P. ("SF Advisory"), the sole general partner of SF Partners, (ii) SPO Corp., the sole general partner of SF Advisory, and (iii) JHS and EHM, the two controlling persons of SPO Corp.
Additionally, JHS owns 13,000 shares in his IRAs, which are self directed, EHM owns 600 shares in his IRA, which is self directed, and PSF owns 95,700 shares. Additionally, EHM directly owns 3,234 shares of the Issuer's common stock. These shares were granted to EHM when he was a director of the company. Pursuant to the partnership agreement governing SPO Partners, these shares owned by EHM may be deemed to be indirectly beneficially owned by SPO Partners, along with any profits arising from the sale of the aforementioned shares.