Robert W. Pittman - May 18, 2024 Form 4 Insider Report for iHeartMedia, Inc. (IHRT)

Role
Chairman and CEO, Director
Signature
/s/ Jordan R. Fasbender, as Attorney-in-Fact for Robert W. Pittman
Stock symbol
IHRT
Transactions as of
May 18, 2024
Transactions value $
-$170,730
Form type
4
Date filed
5/21/2024, 06:11 PM
Previous filing
Feb 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IHRT Class A Common Stock, par value $0.001 per share Options Exercise +141K +4.01% 3.66M May 18, 2024 Direct F1, F2
transaction IHRT Class A Common Stock, par value $0.001 per share Tax liability -$73.2K -60.5K -1.65% $1.21 3.6M May 18, 2024 Direct F2, F3
transaction IHRT Class A Common Stock, par value $0.001 per share Disposed to Issuer -$97.6K -80.6K -2.24% $1.21 3.52M May 18, 2024 Direct F2
holding IHRT Class A Common Stock, par value $0.001 per share 21.7K May 18, 2024 By Pittman CC, LLC F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IHRT Restricted Stock Units Options Exercise -141K -33.33% 282K May 18, 2024 Class A Common Stock 141K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects cash-settled RSUs. Each RSU represents a contingent right to receive an amount in cash equal to the fair market value of one share of the Issuer's Class A common stock on the applicable vesting date. The RSUs shall vest as to one-third of the total RSUs on each of the first three anniversaries of May 18, 2023.
F2 Includes shares of Class A Common Stock as well as RSUs subject to time vesting conditions and performance stock units subject to achievement of certain absolute total stockholder return goals calculated over a five-year performance period.
F3 Transaction represents cash equivalent amounts withheld for taxes upon vesting of cash-settled restricted stock units.
F4 The reported item represents shares of Class A Common Stock beneficially owned by Pittman CC, LLC, a limited liability company controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.