What does a diamond-shaped sign with a yellow center and white border (Znak 'Put sa prvenstvom prolaza' / Priority Road sign) indicate?

1. The road you are travelling on has priority at all subsequent intersections until cancelled by the end-of-priority sign
2. You must yield priority to all vehicles approaching from side streets
3. The road ahead is under construction with temporary gravel surface
4. Motorcycles are prohibited from using the left side of the lane