PITTMAN ROBERT W 4

What Happened

• Robert W. Pittman, Chairman & CEO of iHeartMedia (IHRT), reported conversion/exercise of 303,028 derivative units on Feb 20, 2026. Following the conversion, shares were withheld and surrendered to cover tax liabilities and issuer disposition at $3.61 per share. Reported dispositions generated approximately $1,287,504 in value.
• These entries reflect vesting/settlement and tax withholding rather than an open-market sale or new purchase. The derivative exercise shows $0.00 exercise price for certain reported items, consistent with vested awards being settled.

Key Details

• Date of transactions: 2026-02-20.
• Reported transactions (selected): conversion/exercise of 303,028 units; withheld/surrendered shares: 129,878 (tax withholding, $468,860), 173,150 (disposition to issuer, $625,072), and 53,621 (tax withholding, $193,572). Total reported proceeds from dispositions ≈ $1,287,504.
• Price shown for dispositions: $3.61 per share (used to calculate values above).
• Holdings after transaction: the Form 4 excerpt does not state total post-transaction beneficial ownership. The filing notes holdings include Class A shares and RSUs subject to time vesting (see footnotes).
• Notable footnotes: F1 indicates some RSUs are cash-settled (cash equal to FMV on vesting); F3/F4 explain cash equivalent and share-withholding for taxes; F2/F5 note holdings include Class A stock and interests held through Pittman CC, LLC (the reporting person disclaims beneficial ownership except to his pecuniary interest).
• Timeliness: Reported period and filing date are both 2026-02-20 (filed same day).

Context

• This filing mainly documents awards vesting/settlement and associated tax withholding/dispositions (often routine). Some awards are cash-settled RSUs (converted to cash) while others may be share-settled and then withheld or surrendered to cover taxes or other obligations — not necessarily an open-market sell signal.
• For retail investors: award vesting and tax-withholding dispositions are common for executives and do not by themselves indicate a change in insider sentiment. For full ownership details and exact holdings after the transactions, consult the complete Form 4 (Accession 0001193125-26-061991).