SEC Form 4 · accession 0000899243-16-014827
Clear Channel Outdoor Holdings, Inc. · CCO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher William Eccleshare
Officer — See Remarks
Period of report
Feb 26, 2016
Accepted (ET)
Mar 1, 2016 · 2:34 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001334978
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Feb 26, 2016 | A | 55,315 | $0.00 | A | 369,683 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reported item represents a restricted stock unit award, which vest 50% on each of March 1, 2016 and March 1, 2017. Upon vesting of the units, the reporting person shall be entitled to receive a number of shares of Class A Common Stock equal to the number of units then vesting. The reporting person received the restricted stock unit award under the issuer's 2012 Stock Incentive Plan. On February 4, 2016, the issuer paid a special cash dividend of $1.4937 per share to its stockholders. In connection with the dividend, the company issued restricted stock units to persons, including the reporting person, who previously had been granted restricted stock units, as an anti-dilution adjustment. The award to the reporting person is reported herein.
- F2Reflects 10,756 shares withheld for taxes on February 1, 2016 on restricted stock units that vested on January 22, 2016
Remarks
Chairman and Chief Executive Officer of Clear Channel International