Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 155

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 155
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202420232022Restricted stock units and awards(1)$16,987 $12,879 $12,827 Performance stock units5,958 4,537 4,878 Stock options131 131 131 Total share-based compensation expense$23,076 $17,547 $17,836 (1)For 2023 and 2022, this expense relates to both restricted stock units and restricted stock awards. For 2024, the expense is solely related to restricted stock units, as all restricted stock awards had vested as of December 31, 2023.The tax benefit related to the share-based compensation expense for continuing operations for 2024, 2023 and 2022 was $6.0 million, $4.5 million and $4.6 million, respectively. As of December 31, 2024, there was $19.0 million of unrecognized compensation cost related to unvested share-based compensation arrangements that will vest based on service conditions. This cost is expected to be recognized over a weighted average period of approximately two years.Restricted Stock Units The Company grants restricted stock units (“RSUs”) under its equity incentive plan. RSUs generally represent the right to receive shares upon vesting or, in some instances, may be settled in cash equal to the fair market value of the number of vested shares at the election of the compensation committee of the Board of Directors, and generally vest ratably in annual increments over a three-year period. RSUs are forfeited, except in certain circumstances, in the event the grantee terminates his or her employment or relationship with the Company prior to vesting.

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Table of ContentsCLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table summarizes the Company’s RSUs outstanding at December 31, 2024, and related activity during the year:(Shares in thousands)Number of RSUsWeighted-Average Grant-Date Fair ValueOutstanding, January 1, 2024(1)16,715 $1.54 Granted(2)12,038 $1.58 Vested(7,659)$1.76 Forfeited(900)$1.47 Outstanding, December 31, 202420,194 $1.49 (1)Excludes RSUs granted to employees of discontinued operations.(2)The weighted-average grant