Company: CCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001193125-25-077985
Chunk: 31

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 31
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  Notice and Proxy Statement 2025 |

| Equity Grant Decisions   2024 Annual Grants   Beginning with annual grants made in 2022, we (i) increased the ratio of performance-based versus time-based awards for annual equity grants to our NEOs, which has resulted in a greater percentage of performance-based awards to our NEOs, on average, and (ii) implemented a cap on the earned payout percentage of the PSUs such that the payout may not be greater than 100% if the Company’s TSR is less than zero over the performance period. The 2024 Annual Grants were made consistent with these equity grant practices.   For Mr. Wells, the 2024 Annual Grants mix was 35% time-based RSUs and 65% PSUs. For Mr. Sailer and Ms. Feldman, the 2024 Annual Grants mix was 40% RSUs and 60% PSUs. For Messrs. Cochrane and Dilger, the 2024 Annual Grants mix was 75% RSUs and 25% PSUs.   On May 15, 2024, each of our NEOs (other than Mr. Coleman) received a 2024 Annual Grant with a grant date fair market value ranging from $353,407 to $2,812,726. The per share fair market value at the time of grant was $1.56 for the RSUs and $1.88 for the PSUs. The value of the 2024 Annual Grants received factored in each NEO’s performance during his or her tenure at Clear Channel Outdoor, including during the prior year, his or her long-term potential, retention considerations, the value of certain equity grants made in prior years, internal equity and market practices for comparable positions.   The RSUs granted pursuant to the 2024 Annual Grants vest in three equal installments on each of April 1, 2025, April 1, 2026 and April 1, 2027, subject to the NEO’s continued employment through each vesting date. The PSUs are earned based on Relative Total Shareholder Return (TSR) relative to the S&P 600 for the performance period beginning on April 1, 2024 and ending on March 31, 2027.   2024 One-Time Grants   In addition to his 2024 Annual Grants as described above, Mr. Sailer also received a one-time grant in connection