Company: IHETW
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001400891-25-000022
Chunk: 49

Company: iHeartMedia, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 49
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 separately from the standard PSUs. To achieve the debt performance goal, Messrs. Pittman and Bressler must refinance, repurchase or modify all or substantially all of the Company's outstanding 2026 debt.

The following table summarizes key characteristics of these awards for Messrs. Pittman and Bressler only.

|                      |     | Restricted Stock                                                            
 Units                                                                       |     | Performance Stock                                                
 Units                                                            |
| Objective            |     | Promote executive retention;                                                
 Reinforce ownership in the Company and alignment with stockholder interests |     | Promote executive retention;                                     
 Reward achievement of specificfinancial and strategic objectives |
| Weighting            |     | 35%                                                                         |     | 65%                                                              |
| Vesting Time Horizon |     | 3 years (ratable vesting)                                                   |     | 3 years (cliff vesting)                                          |
| Performance Metrics  |     | Continued service                                                           |     | Adjusted EBITDA and Cost Savings (50%)                           
 modified + / - 25% by Relative TSR                               
 Debt performance goal (15%)                                      |

The Compensation Committee believes the metrics selected for the annual long-term incentive compensation awards are highly relevant to assessing our long-term operational, strategic and relative TSR performance, and driving pay-for-performance

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compensation outcomes. Although Adjusted EBITDA is one of the metrics in our 2024 Annual Incentive Plan, only 30% of the Annual Incentive Plan goals and 25% of the long-term incentive opportunity is based on the metric. For the PSU awards, we use cumulative Adjusted EBITDA, which is measured over three years (as opposed to one year in our Annual Incentive Plan) as a metric both because Adjusted EBITDA is a key metric used by our stockholders in measuring our performance, and because it incentivizes our executives to manage costs while increasing revenue over both the short and long-term. The Cost Savings and Refinancing metrics were selected as they reflected long-term value creating key strategic priorities for iHeartMedia in 2024 and had one year performance periods in order to deliver that value more efficiently. Relative TSR compared to the constituents of the S&P U.S. BMI Media & Entertainment Index was selected as a modifier for PSU awards because it rewards iHeartMedia’s relative ability to create value for long-term stockholders, aligning the interests of our executives and stockholders. The relative TSR of the Company will be measured at the