Company: IHETW
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001400891-25-000022
Chunk: 45

Company: iHeartMedia, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 45
---
 |                |     | 100.1%-149.9% of the Target Bonus(1) |     |         |     |                |     |             |     |                |     |                    |

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

With respect to 2024, Q1/Q2 Adjusted EBITDA was achieved at $274.9 million which was 89.9 % of target, equating to a 67.2% payout. For Q3/Q4, Adjusted EBITDA was achieved at $481.9 million which was 84.8% of target, equating to a 50.6% payout.

Adjusted Free Cash Flow (FCF) Goal

The Adjusted FCF goal under the 2024 Annual Incentive Plan was also split into two six-month periods. As discussed above, due to seasonality in our business, the target for Q1/Q2 is less than the target for Q3/Q4. The following tables set forth the financial goals and the threshold, target and maximum bonus opportunities with respect to the Q1/Q2 and Q3/Q4 Adjusted FCF components of the 2024 Annual Incentive Plan:

| Time Period |     | Threshold                       |     | Target          |     |                                      |     | Maximum |     |                 |     | Achievement |     |                 |     | Funding Percentage |
| Q1/Q2       |     |                                 |     |                 |     |                                      |     |         |     |                 |     |             |     | ($75.4) million |     | 132.6%             |
|             |     | ($108.8) million                |     | ($90.0) million |     |                                      |     |         |     | ($45.0) million |     |             |     |                 |     |                    |
|             |     | 35-99.9% of the Target Bonus(1) |     |                 |     | 100.1%-199.9% of the Target Bonus(1) |     |         |     |                 |     |             |     |                 |     |                    |
| Q3/Q4       |     |                                 |     |                 |     |                                      |     |         |     |                 |     |             |     | $172.8 million  |     | 62.4%              |
|             |     | $138.5 million