secwatch.observer — SEC 8-K summary
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Issuer:     iHeartMedia, Inc. (IHRT)
CIK:        0001400891
Form:       8-K
Filed at:   2022-03-29T23:59:59+00:00
Accession:  0001193125-22-087482
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400891/000119312522087482/0001193125-22-087482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400891/000119312522087482/d319032d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-087482

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