Clear Channel Outdoor: 10% owner PIMCO sold 104,722,539 shares

What happened

• The filing says Pacific Investment Management Co LLC, a 10% owner, disposed of 104,722,539 shares at $2.43 per share in a change of control transaction, for $254,475,770.

Key details

• Transaction date: Oct 14, 2026; price: $2.43 per share; total: $254,475,770.
• Transaction code: U (disposition in change of control).
• Filing date: Oct 16, 2026.
• Footnote F1: The Merger Agreement dated Feb 9, 2026 caused each outstanding share to be converted into the right to receive $2.43 in cash at the effective time of the merger.
• Footnote F2: The reporting person is the investment adviser to clients that held the shares and disclaims beneficial ownership except to the extent of a pecuniary interest.
• Shares owned after the transaction: not reported in the filing.

Why it may matter

• The filing says the sale was part of a change of control under the merger agreement that converted shares into cash at $2.43 per share.
• The reporting person is a 10% owner, a large holder rather than an executive.
• A filing does not show why the insider traded or why the company acted.