Company: CCO
Filing Date: 2025-07-23
Form Type: 8-K
Source: 0001193125-25-163430
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Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-07-23
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

On July 22, 2025, Clear Channel Outdoor Holdings, Inc. (the “ Company”) and Lynn Feldman, Executive Vice President, Chief Legal and Administrative Officer and Corporate Secretary of the Company, entered into a second amended and restated employment agreement (the “ Second A& R Employment Agreement”), effective as of August 1, 2025 (the “ Effective Date”). As of the Effective Date, the Second A& R Employment Agreement will supersede the existing amended and restated employment agreement between the Company and Ms. Feldman, effective November 1, 2022.

The initial term of the Second A& R Employment Agreement ends on July 31, 2028, and will be automatically extended for additional two-yearperiods, unless the Company or Ms. Feldman gives prior written notice of non-renewalbetween December 1 and December 31 prior to the end of the then-applicable employment term.

Pursuant to the Second A& R Employment Agreement, Ms. Feldman will (i) receive a base salary at an annualized rate of $750,000 (retroactive to June 1, 2025), (ii) be eligible to receive an annual performance bonus with a target of 100% of her annual base salary and (iii) be eligible to receive an annual equity incentive grant with an annual target value of $1,400,000, but in no event will the grant date fair value of any such award be less than $300,000, the form of which will be determined by the Compensation Committee of the Board of Directors of the Company. Each such award will be granted pursuant to and subject to the terms and conditions of the Company’s 2012 Third Amended and Restated Stock Incentive Plan (or any successor incentive plan) and applicable award agreement(s).

If the Company terminates Ms. Feldman’s employment without “cause” (as defined in the Second A& R Employment Agreement), if the Company or Ms. Feldman do not renew the Second A& R Employment Agreement or if Ms. Feldman resigns for “good cause” (as defined in the Second A& R Employment Agreement), Ms. Feldman will receive her accrued and unpaid base salary through the termination date, any unpaid annual bonus for the prior year and any payments required under applicable employee benefit plans.