secwatch.observer — SEC 8-K summary
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Issuer:     iHeartMedia, Inc. (IHRT)
CIK:        0001400891
Form:       8-K
Filed at:   2022-07-20T23:59:59+00:00
Accession:  0001400891-22-000025
Event type: leadership
Sentiment:  neutral
Materiality: 0.15
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

iHeartMedia amends employment agreement with GC Jordan Fasbender; base salary to rise to $750k by 2024
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- Employment term extended to March 31, 2025, with automatic one-year renewals.
- Base salary set at $700,000 (effective April 1, 2022), increasing to $725,000 in 2023 and $750,000 in 2024.
- On termination without cause or for good reason (non-CIC): 1.5x base+target bonus, COBRA for 18 months, pro-rata bonus, plus accelerated vesting.
- On termination in connection with a Change in Control: 2x base+target bonus, 1.33x COBRA, pro-rata bonus, and accelerated vesting.
- On death/disability: pro-rata bonus and accelerated vesting for certain equity awards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400891/000140089122000025/0001400891-22-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400891/000140089122000025/ihm-20220718.htm
  HTML page:      https://secwatch.observer/filing/0001400891-22-000025

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