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LTIP Units are a class of units of the OP that, following the occurrence of certain events and upon vesting, convert automatically into an equivalent number of common partnership units of the OP (\"Common Units\").  Common Units are redeemable by the holder for cash or Class A common stock of Lamar on a one-for-one basis, at Lamar's election.  These LTIP Units were originally awarded subject to forfeiture based on the achievement of performance goals for 2025, as determined by Lamar's Compensation Committee."},{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F1","text":"These LTIP Units (\"LTIP Units\") of Lamar Advertising Limited Partnership (the \"OP\"), the operating partnership of Lamar Advertising Company (\"Lamar\"), were issued under Lamar's 1996 Equity Incentive Plan, as amended.  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