iHeartMedia extends CEO & CFO employment to 2026; base salary to $1.8M, sign-on PSUs worth $12.5M

iHeartMedia, Inc.

Employment terms extended to June 1, 2026 for CEO Robert Pittman and COO/CFO Richard Bressler; base salaries increase to $1.8M effective Jan 1, 2023.
Target annual bonus set at 225% of base salary for 2023 onward; annual equity award expected at $8M grant-date fair value per year.
Sign-on PSU awards: $6.5M (Pittman) and $6.0M (Bressler) contingent on absolute TSR goals over a 5-year period; vest on 5th anniversary.
Retirement eligible after June 1, 2026 for pro-rated bonus; non-compete covenant for 18 months post-employment.

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