Company: CCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001193125-25-077985
Chunk: 34

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 34
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      |     | Relative Total Shareholder Return (TSR) performance                                                                |     | Equity         |

| 1 | Plan Adjusted EBITDA is defined as revenue less direct operating expenses, selling, general and administrative expenses and corporate expenses, excluding share-based compensation and restructuring and other costs (which are defined as costs associated with cost-saving initiatives such as severance, consulting and termination costs and other special costs) and excluding bonus expenses, and for 2024, further adjusted to reflect hurricane expenses. |

| Notice and Proxy Statement 2025  33 |

COMPENSATION FACTORS AND GOVERNANCE The Compensation Committee applies a number of governance features related to executive compensation, which are summarized below. We believe that these mechanisms help to assure the alignment of executive and stockholder interests.

| What We Do                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |     | What We Don’t Do                                                                                                                                                                                                                                                                                                |
| ✔  Deliver a significant portion of executive compensation through performance-based at-risk pay   ✔  Maintain a peer group for benchmarking pay   ✔  Set challenging short- and long-term incentive objectives   ✔  Provide strong oversight to monitor our equity share usage and avoid excessive levels of dilution   ✔  Set forth stock ownership guidelines for executives, with minimum ownership levels defined by role   ✔  Have double-trigger change-in-control arrangements   ✔  Maintain a compensation clawback policy, which was updated in 2023 to comply with Section 10D of the Exchange Act and the NYSE listing standards   ✔  Conduct an annual risk assessment to mitigate any compensation program-related risk having a material adverse effect on the Company   ✔  Offer market-competitive benefits for executives that are generally consistent with the benefits provided to the rest of our employees   ✔  Consult with an independent consultant on compensation levels and practices |     | ✘   No across-the-board base salary increases   ✘   No guaranteed bonus payments   ✘   No hedging or pledging of equity   ✘   No re-pricing of stock options   ✘   No tax gross ups upon a change of control   ✘   No excessive perquisites   ✘   No