Company: CCO
Filing Date: 2025-03-31
Form Type: 8-K
Source: 0001193125-25-068755
Chunk: 2

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-03-31
Form: 8-K
Item: Item 5.02
Chunk 2
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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.  

Simultaneous with the closing of the Transaction, Justin Cochrane, Chief Executive Officer of Clear Channel UK & Europe, has ceased to be an employee of the Company. In connection with his departure, on March 28, 2025, the Compensation Committee of the Board of Directors of the Company approved, expressly contingent upon the occurrence of the Closing Date, the accelerated vesting of (i) 221,410 outstanding time-based restricted stock units (“ RSUs”) held by Mr. Cochrane that were scheduled to vest on or before March 31, 2026 and (ii) a number of performance stock units (“ PSUs”) granted to Mr. Cochrane on May 2, 2023 (the “2023 Cochrane PSU Grant”) equal to 95.8% of the target number of underlying PSUs ( i. e., 221,759 PSUs). For the avoidance of doubt, any other RSUs, any other PSUs subject to the 2023 Cochrane PSU Grant and any other grant of PSUs held by Mr. Cochrane that remained unvested as of the Closing Date, after giving effect to the foregoing acceleration, were immediately forfeited for no consideration.