Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 23

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 23
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2025 and 2024, respectively, and $12.8 million and $11.3 million for the six months ended June 30, 2025 and 2024, respectively.Annual GrantsOn May 28, 2025, the Compensation Committee of the CCOH Board of Directors approved grants under the Company’s 2012 Third Amended and Restated Stock Incentive Plan (the “Stock Incentive Plan”) of approximately 18.2 million restricted stock units (“RSUs”) and 4.0 million performance stock units (“PSUs”) to certain employees as part of their annual compensation.The RSUs will vest in three equal annual installments on April 1 of 2026, 2027 and 2028, subject to continued employment on each vesting date.The PSUs will vest, to the extent earned, following a three-year performance period from April 1, 2025 through March 31, 2028, and are also subject to continued employment through the vesting date. For each grantee, 65% of the award vests based on the Company’s total shareholder return (“TSR”) relative to a designated peer group (“Relative TSR”), and the remaining 35% vests based on the Company’s cumulative Adjusted EBITDA less capital expenditures (“Cumulative ULFCF”), measured over the performance period against pre-established goals and modified by a multiplier based on the compound annual growth rate (“CAGR”) of the Company’s stock price over the performance period (“CAGR Multiplier”).•For PSUs that vest based on Relative TSR, payouts range from 0% to 150% of target. Performance at the 25th, 50th and 75th percentiles of the peer group corresponds to payouts of 50%, 100% and 150%, respectively, with straight-line interpolation between points. No PSUs will be earned for performance below the 25th percentile. If TSR is negative over the performance period, the maximum payout is capped at 100%.•For PSUs that vest based on Cumulative ULFCF, payouts also range from 0% to 150% of target, subject to the CAGR Multiplier. Cumulative ULFCF achievement of at least 85%, at least 97% but less than 103%, and 110% or more of the Cumulative ULFCF goal results in payouts of 50%, 100% and 150%, respectively, with straight-line interpolation