Clear Channel Outdoor: CEO Scott Wells sold 9,287,613 shares

What happened

• Scott Wells, CEO, reported dispositions of Common Stock to the issuer on Oct 14, 2026: 6,042,485 shares at $2.43 for $14,683,239; 40,000 shares at $2.43 for $97,200; and 3,205,128 shares (derivative) at $2.43 for $7,788,461, totaling 9,287,613 shares and $22,568,900.

Key details

• Transaction date(s) and price(s): Oct 14, 2026, at $2.43 per share for all reported transactions.
• Filing date: Oct 15, 2026 (reporting period Oct 14, 2026).
• Shares owned after the transaction: not reported in the provided filing excerpt.
• Footnotes from the filing:
  • F1: Per the Merger Agreement dated Feb 9, 2026, each outstanding share was converted into the right to receive $2.43 in cash and each restricted stock unit was cancelled and converted into the right to receive $2.43 multiplied by the shares subject to the award.
  • F2: Certain shares are held by the Wells 2013 Irrevocable Trust U/A 05/06/13 (trustees Scott R. Wells and Gary Smith) for the benefit of Evelyn G. Wells and Charles R. Wells.
  • F3: RSUs that vested based on average closing price targets were cancelled and converted into the right to receive cash equal to $2.43 per share due to the Reporting Person's qualifying termination in connection with the Merger.

Why it may matter

• The reported dispositions were made to the issuer under the Merger Agreement and involved cash conversion of both common shares and restricted stock units at $2.43 per share.
• The derivative amount reflects cancelled RSUs converted to cash per the Merger Agreement and the Reporting Person's qualifying termination.
• Some shares were held in irrevocable trusts identified in the filing.
• This filing does not show why the insider traded or why the company acted.