content: <?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
    <!-- Generated by Workiva -->
    <headerData>
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      <filerInfo>
        <filer>
          <filerCredentials>
            <cik>0001736249</cik>
            <ccc>XXXXXXXX</ccc>
          </filerCredentials>
        </filer>
        <liveTestFlag>LIVE</liveTestFlag>
  
  
  
      </filerInfo>
    </headerData>
    <formData>
      <issuerInfo>
        <issuerCik>0001090425</issuerCik>
        <issuerName>Lamar Advertising Company</issuerName>
        <secFileNumber>001-36756</secFileNumber>
        <issuerAddress>
          <com:street1>5321 Corporate Boulevard</com:street1>
          <com:city>Baton Rouge</com:city>
          <com:stateOrCountry>LA</com:stateOrCountry>
          <com:zipCode>70808</com:zipCode>
        </issuerAddress>
        <issuerContactPhone>225-926-1000</issuerContactPhone>
        <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Jay LeCoryelle Johnson</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
        <relationshipsToIssuer>
          <relationshipToIssuer>Affiliate</relationshipToIssuer>
        </relationshipsToIssuer>
      </issuerInfo>
      <securitiesInformation>
        <securitiesClassTitle>Class A Common</securitiesClassTitle>
        <brokerOrMarketmakerDetails>
          <name>J.P. Morgan Securities LLC</name>
          <address>
            <com:street1>390 Madison Avenue - 6th Floor</com:street1>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10017</com:zipCode>
          </address>
        </brokerOrMarketmakerDetails>
        <noOfUnitsSold>5000</noOfUnitsSold>
        <aggregateMarketValue>587750</aggregateMarketValue>
        <noOfUnitsOutstanding>87645560</noOfUnitsOutstanding>
        <approxSaleDate>03/07/2024</approxSaleDate>
        <securitiesExchangeName>NASDAQ</securitiesExchangeName>
      </securitiesInformation>
      <securitiesToBeSold>
        <securitiesClassTitle>Class A Common</securitiesClassTitle>
        <acquiredDate>02/22/2021</acquiredDate>
        <natureOfAcquisitionTransaction>RSU Vesting</natureOfAcquisitionTransaction>
        <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
        <isGiftTransaction>N</isGiftTransaction>
        <amountOfSecuritiesAcquired>5000</amountOfSecuritiesAcquired>
        <paymentDate>02/22/2021</paymentDate>
        <natureOfPayment>Compensation</natureOfPayment>
      </securitiesToBeSold>
      <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
      <noticeSignature>
        <noticeDate>03/07/2024</noticeDate>
        <signature>/s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for Jay LeCoryelle Johnson</signature>
      </noticeSignature>
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text: 144
  0001736249
  XXXXXXXX
  LIVE
  0001090425
  Lamar Advertising Company
  001-36756
  5321 Corporate Boulevard
  Baton Rouge
  LA
  70808
  225-926-1000
  Jay LeCoryelle Johnson
  Affiliate
  Class A Common
  J.P. Morgan Securities LLC
  390 Madison Avenue - 6th Floor
  New York
  NY
  10017
  5000
  587750
  87645560
  03/07/2024
  NASDAQ
  Class A Common
  02/22/2021
  RSU Vesting
  Issuer
  N
  5000
  02/22/2021
  Compensation
  Y
  03/07/2024
  /s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for Jay LeCoryelle Johnson