Clear Channel Outdoor appoints Ted White to board, agrees to add independent director under Legion cooperation

Clear Channel Outdoor Holdings, Inc.

Ted White appointed to Board and Audit Committee effective Jan 31, 2024; will stand for election at 2024 annual meeting.
Board to appoint a new independent director with out-of-home industry experience by Sept 30, 2024; board capped at 10 members.
Legion Partners agreed to standstill, voting commitments, and other customary provisions through cooperation period ending before 2025 annual meeting.
Cooperation includes mutual non-disparagement and confidentiality; no financial terms disclosed.

item 1.01 item 5.02 item 7.01 item 9.01

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Appointed

Ted White

Director

CCO · Clear Channel Outdoor Holdings, Inc.

Effective: 2024-01-31
Filed: February 1, 2024, 6:59 PM ET

Pursuant to the Cooperation Agreement, effective on January 31, 2024, Mr. White was appointed to the Board and the Audit Committee of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Ted White was appointed as Director at Clear Channel Outdoor Holdings, Inc..

Action: appointed
Role: Director

Exact text from the filing

Pursuant to the Cooperation Agreement, effective on January 31, 2024, Mr. White was appointed to the Board and the Audit Committee of the Board.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Clear Channel Outdoor Holdings, Inc. entered into Cooperation Agreement with Legion Partners Holdings, LLC and certain of its affiliates (effective 2024-01-31).

Action: entry
Counterparty: Legion Partners Holdings, LLC and certain of its affiliates
Effective: 2024-01-31

Exact text from the filing

On January 31, 2024 (the “Effective Date”), Clear Channel Outdoor Holdings, Inc., a Delaware corporation (the “Company”), entered into a Cooperation Agreement (the “Cooperation Agreement”) with Legion Partners Holdings, LLC and certain of its affiliates (collectively, the “Legion Parties”) regarding certain changes to the composition of the Company’s Board of Directors (the “Board”) and other related matters.

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Clear Channel Outdoor Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-021385

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