Company: CCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001193125-25-077985
Chunk: 91

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 91
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 Inc and Ziff Davis, Inc). In the fall of 2024, CCO removed Audacy from their compensation peer group following their delisting from the NYSE. The table below reports the TSR for each applicable fiscal year for our peer group used prior to 2023. |

|      |     | Total       
 Shareholder 
 Return      |   |     |     | Previous PeerGroup TotalShareholderReturn |   |     |
|:-----|:----|:------------|:--|----:|:----|:------------------------------------------|:--|----:|
| 2024 |     |             | $ |  48 |     |                                           | $ |  83 |
| 2023 |     |             | $ |  64 |     |                                           | $ |  96 |
| 2022 |     |             | $ |  37 |     |                                           | $ |  93 |
| 2021 |     |             | $ | 116 |     |                                           | $ | 109 |
| 2020 |     |             | $ |  58 |     |                                           | $ |  95 |

| (e) | Represents the amount of consolidated net income (loss) reflected in the Company’s audited financial statements for each applicable fiscal year. |

| Notice and Proxy Statement 2025  69 |

| (f) | We have selectedCCOH Plan Adjusted EBITDAas our most important financial measure (that is not otherwise required to be disclosed in the table) used to link ‘compensation actually paid’ to our NEOs to company performance for fiscal year 2024. CCOH 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. Below is to the calculation of CCOH Plan Adjusted EBITDA for the years 2020, 2021, 2022, 2023 and 2024. |

| (in thousands)                                |     | 2024 |   |           |   |     | 2023(1) |   |            |   |     | 2022(1)