Company: IHETW
Filing Date: 2025-12-01
Form Type: 8-K
Source: 0001193125-25-303163
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Company: iHeartMedia, Inc.
Filing Date: 2025-12-01
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 November 25, 2025, iHeart Management Services, Inc., a subsidiary of iHeartMedia, Inc. (together with its subsidiaries, the “ Company”), entered into the Third Amendment to the Employment Agreement, effective September 5, 2019, between the Company and Michael McGuinness (the “ Amendment”). Pursuant to the Amendment, effective January 1, 2026 (the “ Effective Date”), Mr. McGuinness’s title will become Chief Financial Officer, reporting to the Company’s President & Chief Operating Officer, Richard Bressler. The Amendment extends the term of the Employment Agreement through June 30, 2030. In addition, effective on the Effective Date, Mr. McGuinness’s annual salary is increased to $1.2 million, his annual bonus target will increase to 150% of his base salary and his annual long-term incentive grant will have a target grant date fair value of $1.5 million.

Biographical information for Mr. McGuinness, age 48, can be found in the Company’sdefinitive proxy statementfor the 2025 annual meeting of stockholders filed with the Securities and Exchange Commission on April 1, 2025 and is incorporated by reference herein.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form8-Kand incorporated by reference herein.