UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
_____________________________
 
FORM 8-K
_____________________________
 
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):   May 18, 2012
 
_____________________________

CC MEDIA HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
_____________________________
 

Delaware
000-53354
26-0241222
(State or other jurisdiction
(Commission File Number)
(I.R.S. Employer
of incorporation)
 
Identification No.)


200 East Basse Road
San Antonio, Texas 78209
(Address of principal executive offices)

Registrant’s telephone number, including area code: (210) 822-2828
 
Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 



 
 

 
 

Item 5.02                      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 18, 2012, at the Annual Meeting of Stockholders of Clear Channel Outdoor Holdings, Inc. (“CCOH”), an indirect subsidiary of CC Media Holdings, Inc. (the “Company”), CCOH’s stockholders approved CCOH’s 2012 Stock Incentive Plan and CCOH’s Amended and Restated 2006 Annual Incentive Plan.  The summaries of the 2012 Stock Incentive Plan and the Amended and Restated 2006 Annual Incentive Plan below are qualified in their entirety by reference to the full text of the plans filed herewith as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.

2012 Stock Incentive Plan

CCOH’s 2012 Stock Incentive Plan is a broad-based incentive plan that provides for granting stock options, stock appreciation rights, restricted stock, deferred stock awards, and performance-based cash and stock awards to any of CCOH’s or its subsidiaries’ present or future directors, officers, employees, consultants, or advisers.

Subject to adjustments as required or permitted by the 2012 Stock Incentive Plan’s terms, under the 2012 Stock Incentive Plan, CCOH may issue a total of (1) 29,142,027 shares of CCOH’s Class A common stock, $.01 par value per share, plus (2) the number of shares of common stock granted under CCOH’s 2005 Stock Incentive Plan, as amended and restated, that would be considered “Lapsed Awards” under Section 3.2 of the 2012 Stock Incentive Plan (as more fully described below) had they been granted under the 2012 Stock Incentive Plan.

The following shares are not taken into account in applying these limitations: (1) shares covered by awards that expire or are canceled, forfeited, settled in cash, or otherwise terminated; (2) shares delivered to CCOH or withheld by CCOH for the payment or satisfaction of purchase price or tax withholding obligations associated with the exercise or settlement of an award; and (3) shares covered by stock-based awards assumed by CCOH in connection with the acquisition of another company or business (collectively, “Lapsed Awards”).

Unless sooner terminated, the 2012 Stock Incentive Plan will terminate on the tenth anniversary of the date of its adoption by CCOH’s Board of Directors, or February 16, 2022.  CCOH’s 2005 Stock Incentive Plan, as amended and restated, automatically terminated (other than with respect to outstanding awards) upon stockholder approval of the 2012 Stock Incentive Plan at CCOH’s Annual Meeting of Stockholders on May 18, 2012 and, as a result of such termination, there are no shares available for new grants under CCOH’s 2005 Stock Incentive Plan.

Amended and Restated 2006 Annual Incentive Plan

CCOH’s Amended and Restated 2006 Annual Incentive Plan provides for the award of performance-based compensation to executive officers and other selected key employees of CCOH and its subsidiaries that will not be subject to the executive compensation deduction limitations of Section 162(m) of the Internal Revenue Code of 1986, as amended.  All awards under CCOH’s Amended and Restated 2006 Annual Incentive Plan will be settled in cash.
 
 
 
 

 

 
Item 5.07                      Submission of Matters to a Vote of Security Holders
 
 
On May 18, 2012, the Company held its Annual Meeting of Stockholders.  Set forth below are the final voting results for each proposal submitted to a vote of the stockholders at the Company’s Annual Meeting of Stockholders.
 
 
1.           The Company’s stockholders elected each of the thirteen nominees for directors to serve until the next Annual Meeting of Stockholders or until his successor shall have been elected and qualified.
 
Proposal 1.  Election of Directors
 
Votes For
   
Votes Withheld
   
Broker Non-Votes
 
                   
Class A Common Stock
                 
David C. Abrams
    20,207,893       88,235       1,817,171  
Irving L. Azoff
    20,207,993       88,135       1,817,171  
Steven W. Barnes
    17,793,695       2,502,433       1,817,171  
Richard J. Bressler
    17,714,520       2,581,608       1,817,171  
Charles A. Brizius
    17,802,372       2,493,756       1,817,171  
John P. Connaughton
    17,714,282       2,581,846       1,817,171  
Blair E. Hendrix
    17,714,490       2,581,638       1,817,171  
Jonathon S. Jacobson
    20,208,458       87,670       1,817,171  
Ian K. Loring
    17,714,772       2,581,356       1,817,171  
Mark P. Mays
    17,868,670       2,427,458       1,817,171  
Randall T. Mays
    17,868,878       2,427,250       1,817,171  
Robert W. Pittman
    17,880,718       2,415,410       1,817,171  
Scott M. Sperling
    17,714,802       2,581,326       1,817,171  
                         
Proposal 1.  Election of Directors
 
Votes For
   
Votes Withheld
   
Broker Non-Votes
 
                         
Class B Common Stock
                       
David C. Abrams
    59,523,058       0       0  
Irving L. Azoff
    59,523,058       0       0  
Steven W. Barnes
    59,523,058       0       0  
Richard J. Bressler
    59,523,058       0       0  
Charles A. Brizius
    59,523,058       0       0  
John P. Connaughton
    59,523,058       0       0  
Blair E. Hendrix
    59,523,058       0       0  
Jonathon S. Jacobson
    59,523,058       0       0  
Ian K. Loring
    59,523,058       0       0  
Mark P. Mays
    59,523,058       0       0  
Randall T. Mays
    59,523,058       0       0  
Robert W. Pittman
    59,523,058       0       0  
Scott M. Sperling
    59,523,058       0       0  
                         
 
 
 
 
 

 

 
Proposal 1.  Election of Directors
 
Votes For
   
Votes Withheld
   
Broker Non-Votes
 
                   
Total
                 
David C. Abrams
    79,730,951       88,235       1,817,171  
Irving L. Azoff
    79,731,051       88,135       1,817,171  
Steven W. Barnes
    77,316,753       2,502,433       1,817,171  
Richard J. Bressler
    77,237,578       2,581,608       1,817,171  
Charles A. Brizius
    77,325,430       2,493,756       1,817,171  
John P. Connaughton
    77,237,340       2,581,846       1,817,171  
Blair E. Hendrix
    77,237,548       2,581,638       1,817,171  
Jonathon S. Jacobson
    79,731,516       87,670       1,817,171  
Ian K. Loring
    77,237,830       2,581,356       1,817,171  
Mark P. Mays
    77,391,728       2,427,458       1,817,171  
Randall T. Mays
    77,391,936       2,427,250       1,817,171  
Robert W. Pittman
    77,403,776       2,415,410       1,817,171  
Scott M. Sperling
    77,237,860       2,581,326       1,817,171  
 
2.           The selection of Ernst & Young LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2012 was ratified.
 
Proposal 2.  Ratification of the selection of Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2012
 
Votes For
   
Votes Against
   
Abstentions
   
Broker Non-Votes
 
                         
Class A Common Stock
    22,047,545       64,748       1,006       0  
Class B Common Stock
    59,523,058       0       0       0  
                                 
Total
    81,570,603       64,748       1,006       0  
 

 

Item 9.01                      Financial Statements and Exhibits

(d)
Exhibits
     
 
10.1
Clear Channel Outdoor Holdings, Inc. 2012 Stock Incentive Plan (Incorporated by reference to Exhibit 99.1 to the Clear Channel Outdoor Holdings, Inc. Registration Statement on Form S-8 (File No. 333-181514) filed May 18, 2012).
 
10.2
Clear Channel Outdoor Holdings, Inc. Amended and Restated 2006 Annual Incentive Plan (Incorporated by reference to Appendix B to the Clear Channel Outdoor Holdings, Inc. definitive proxy statement on Schedule 14A for its 2012 Annual Meeting of Stockholders filed April 9, 2012).
 

 
 

 


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
 
CC MEDIA HOLDINGS, INC.
 
       
       
Date:   May 21, 2012
By:
/s/ Hamlet T. Newsom, Jr.
 
   
Hamlet T. Newsom, Jr.
 
   
Vice President, Associate General Counsel and
 
   
Assistant Secretary
 
       

 
 
 

 
 
Exhibit Index


Exhibit No.
 
 Description
10.1
 
Clear Channel Outdoor Holdings, Inc. 2012 Stock Incentive Plan (Incorporated by reference to Exhibit 99.1 to the Clear Channel Outdoor Holdings, Inc. Registration Statement on Form S-8 (File No. 333-181514) filed May 18, 2012).
10.2
 
Clear Channel Outdoor Holdings, Inc. Amended and Restated 2006 Annual Incentive Plan (Incorporated by reference to Appendix B to the Clear Channel Outdoor Holdings, Inc. definitive proxy statement on Schedule 14A for its 2012 Annual Meeting of Stockholders filed April 9, 2012).