Clear Channel Outdoor Boosts CEO Scott Wells' Pay Package in New Four-Year Agreement

Reuters12-20

Clear Channel Outdoor Boosts CEO Scott Wells' Pay Package in New Four-Year Agreement

Clear Channel Outdoor Holdings Inc. has announced that CEO Scott R. Wells has entered into a second amended and restated employment agreement, effective January 1, 2026. The new agreement, which supersedes the previous contract set to expire the same day, extends Wells’ term through January 1, 2030, with automatic four-year extensions thereafter. If terminated without cause, not renewed, or if Wells resigns for good reason, he will receive an 18-month severance package including continued base salary, a pro rata annual bonus, a lump-sum separation bonus equal to his target annual bonus, and a cash payment covering 18 months of COBRA health premiums. The agreement also includes customary confidentiality, non-interference, non-solicitation, and non-competition provisions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Clear Channel Outdoor Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-326850), on December 19, 2025, and is solely responsible for the information contained therein.

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Wells has entered into a second amended and restated employment agreement, effective January 1, 2026. The new agreement, which supersedes the previous contract set to expire the same day, extends Wells’ term through January 1, 2030, with automatic four-year extensions thereafter. If terminated without cause, not renewed, or if Wells resigns for good reason, he will receive an 18-month severance package including continued base salary, a pro rata annual bonus, a lump-sum separation bonus equal to his target annual bonus, and a cash payment covering 18 months of COBRA health premiums. The agreement also includes customary confidentiality, non-interference, non-solicitation, and non-competition provisions.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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