ARES MANAGEMENT LLC - 09 Sep 2025 Form 4 Insider Report for Clear Channel Outdoor Holdings, Inc. (CCO)

Reporting relationship: 10%+ Owner
Issuer ticker: CCO
Reported as of: 09 Sep 2025
Net transaction value: -$16,972,135
SEC form: 4
Accepted by SEC: 11 Sep 2025, 16:31:01 UTC
Prior SEC filing: 13 Jun 2025
Next SEC filing: 24 Mar 2026
Source filing: View source filing
Reporting owner signature: Ares Management LLC, By: /s/ Anton Feingold, Authorized Signatory

Key filing fact

ARES MANAGEMENT LLC filed Form 4 for Clear Channel Outdoor Holdings, Inc. (CCO) on 11 Sep 2025.

Key facts

This page summarizes ARES MANAGEMENT LLC's Form 4 filing for Clear Channel Outdoor Holdings, Inc. (CCO).
2 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 11 Sep 2025, 16:31.

Change

Previous filing in this sequence was filed on 13 Jun 2025.
Current net transaction value: -$16,972,135.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (7)

CIK 0001259313 Primary reporting owner

ARES MANAGEMENT LLC

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Management LLC, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

CIK 0001620263

Ares Partners Holdco LLC

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Partners Holdco LLC, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

CIK 0001761656

Ares Voting LLC

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Voting LLC, By: Ares Partners Holdco LLC, its sole member, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

CIK 0001620264

Ares Management GP LLC

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Management GP LLC, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

CIK 0001176948

Ares Management Corp

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Management Corporation, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

CIK 0001669983

Ares Holdco LLC

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Holdco LLC, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

CIK 0001536937

Ares Management Holdings L.P.

Relationship: 10%+ Owner
Address: C/O ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: Ares Management Holdings L.P., By: Ares Holdco LLC, its general partner, By: /s/ Anton Feingold, Authorized Signatory
Signature date: 11 Sep 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CCO transaction

Common Stock

Sale

Transaction value: $2,261,335
Shares: -1,631,555
Change %: -2.9%
Price: $1.39
Shares after: 54,197,491
Date: 09 Sep 2025
Ownership: See footnotes
Footnotes: F1, F2, F3

CCO transaction

Common Stock

Sale

Transaction value: $14,710,800
Shares: -13,000,000
Change %: -24%
Price: $1.13
Shares after: 41,197,491
Date: 10 Sep 2025
Ownership: See footnotes
Footnotes: F1, F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

ARES MANAGEMENT LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

Following the transactions reported herein, includes: (i) 8,722,544 shares held by ASSF IV AIV B Holdings III, L.P. ("ASSF IV AIV B Holdings"), (ii) 984,295 shares held by ASSF IV AIV B, L.P. ("ASSF IV AIV B"), (iii) 19,332,427 shares held by ASOF Holdings I, L.P. ("ASOF I"), (iv) 5,095,692 shares held by ASOF II Holdings I, L.P. ("ASOF II Holdings I"), (v) 918,342 shares held by ASOF II A (DE) Holdings I, L.P. ("ASOF II A (DE) Holdings I"), and (vi) 6,144,191 shares held by ACOF VI Holdings, L.P. ("ACOF VI").

Footnote F2

Ares Partners Holdco LLC ("Ares Partners") is the sole member of each of Ares Voting LLC and Ares Management GP LLC, which are respectively the holders of the Class B and Class C common stock of Ares Management Corporation ("Ares Management"), which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco LLC, which is the general partner of Ares Management Holdings L.P., which is the sole member of Ares Management LLC, which is: (i) the general partner of ASSF Operating Manager IV, L.P., which is the manager of ASSF IV AIV B Holdings and ASSF IV AIV B; (ii) the sole member of ASOF Investment Management LLC, which is the manager of ASOF I, ASOF II Holdings I and ASOF II A (DE) Holdings I; and (iii) the sole member of ACOF Investment Management LLC, which is the manager of ACOF VI.

Footnote F3

We refer to all of the foregoing entities collectively as the Ares Entities. Each of the Ares Entities may be deemed to share beneficial ownership of the securities reported herein, but each disclaims any such beneficial ownership of securities not held of record by them. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions. Each of these individuals disclaims beneficial ownership of the securities that may be deemed to be beneficially owned by Ares Partners.

Footnote F4

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.12 to $1.2714, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

SEC remarks

Due to the limitations of the electronic filing system, each of ASSF IV AIV B Holdings III, L.P., ASSF IV AIV B, L.P., ASSF Operating Manager IV, L.P., ASOF Holdings I, L.P., ASOF II Holdings I, L.P., ASOF II A (DE) Holdings I, L.P., ASOF Investment Management LLC, ACOF VI Holdings, L.P. and ACOF Investment Management LLC are filing a separate Form 4.