Company: IHETW
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001400891-25-000022
Chunk: 46

Company: iHeartMedia, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 46
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 |     | $277.0 million  |     |                                      |     |         |     | $332.4 million  |     |             |     |                 |     |                    |
|             |     | 35-99.9% of the Target Bonus(1) |     |                 |     | 100.1%-199.9% of the Target Bonus(1) |     |         |     |                 |     |             |     |                 |     |                    |

(1) Determined on a straight-line interpolation basis.

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With respect to 2024, for Q1/Q2 Adjusted FCF was achieved at ($75.4) million which is less negative than targeted Adjusted FCF of ($90.0) million which was 83.7% of target, equating to a 132.6% payout. For Q3/Q4, Adjusted FCF was achieved at $172.8 million which was 62.4% of target, equating to a 62.4% payout. In calculating our achievement of the Q3/Q4 goals, FCF was adjusted for $89.0 million of cash paid for Debt Exchange Transaction fees and $46.3 million of cash paid for accrued interest for the Debt Exchange Transaction that would have been paid in 2025 under the terms of the old debt, as approved by the Compensation Committee and consistent with pre-defined and approved adjustments as well as prior years' practice.

Corporate Responsibility, Human Capital and Strategic Objectives Goal

The Compensation Committee recognized that the Company’s engagement and investment in its workforce and local communities are a significant component of the Company’s strategic plans and business purpose, particularly with its employees, advertisers, listeners and investors.

The metric measures progress on multiple goals over the performance period that focus on the key areas of strategic priority that align with driving results for the business -- building strong Company culture; advancing content that reflects different views and voices; expanding outreach and other efforts that strengthen the Company’s ties to the communities it serves; and facilitating an environment that promotes growth, development and advancement within the Company.

Achievement on this metric was measured using both quantitative and qualitative data, including progress in overall workforce, management and talent composition and retention, progress on employee training and development programs, value of donated media and donated impressions and progress in inclusive broadcast, podcast and event content and content creation, among others. In determining the performance for this metric, the Compensation Committee also considered achievement