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 26, 2017

 

 

IHEARTMEDIA, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   000-53354   26-0241222

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

200 East Basse Road, Suite 100

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:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

 

 

 


Item 5.07 Submission of Matters to a Vote of Security Holders

On May 26, 2017, iHeartMedia, Inc. (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 Annual Meeting of Stockholders.

As previously disclosed, Irving L. Azoff, who previously served as a member of the Board of Directors, resigned from the Board of Directors effective May 3, 2017. The Board of Directors has yet to decide whether a new director will be appointed to fill the resulting vacancy or to reduce the size of the Board of Directors.

As disclosed in the Company’s proxy statement filed with the Securities and Exchange Commission on April 19, 2017, and as supplemented on May 5, 2017, holders of the Company’s Class A common stock, voting as a separate class, are entitled to elect two members of the Board of Directors (David C. Abrams and Jonathon S. Jacobson). For the election of the other members of the Board of Directors and all other matters submitted to a vote of the stockholders, the holders of Class A common stock and Class B common stock vote together as a single class.

1. The Company’s stockholders elected each of the following thirteen nominees for directors to serve until the next Annual Meeting of Stockholders or until his or her successor shall have been elected and qualified.

Proposal 1: Election of Directors

 

     For      Withheld      Broker
Non-Vote
 

Class A Common Stock

        

David C. Abrams

     20,729,239        945,627        5,031,061  

John N. Belitsos

     20,746,970        927,896        5,031,061  

Frederic F. Brace

     20,887,109        787,757        5,031,061  

Richard J. Bressler

     20,476,619        1,198,247        5,031,061  

James C. Carlisle

     20,195,553        1,479,313        5,031,061  

John P. Connaughton

     20,729,239        945,627        5,031,061  

Charles H. Cremens

     21,157,714        517,152        5,031,061  

Matthew J. Freeman

     20,746,726        928,140        5,031,061  

Laura A. Grattan

     20,746,688        928,178        5,031,061  

Blair E. Hendrix

     20,195,276        1,479,590        5,031,061  

Jonathon S. Jacobson

     20,465,632        1,209,234        5,031,061  

Robert W. Pittman

     20,714,907        959,959        5,031,061  

Scott M. Sperling

     20,458,878        1,215,988        5,031,061  

Class B Common Stock

        

David C. Abrams

     —          —          —    

John N. Belitsos

     59,522,270        —          —    

Frederic F. Brace

     59,522,270        —          —    

Richard J. Bressler

     59,522,270        —          —    

James C. Carlisle

     59,522,270        —          —    

John P. Connaughton

     59,522,270        —          —    

Charles H. Cremens

     59,522,270        —          —    

Matthew J. Freeman

     59,522,270        —          —    

Laura A. Grattan

     59,522,270        —          —    

Blair E. Hendrix

     59,522,270        —          —    

Jonathon S. Jacobson

     —          —          —    

Robert W. Pittman

     59,522,270        —          —    

Scott M. Sperling

     59,522,270        —          —    

 

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Total

        

David C. Abrams

     20,729,239        945,627        5,031,061  

John N. Belitsos

     80,269,240        927,896        5,031,061  

Frederic F. Brace

     80,409,379        787,757        5,031,061  

Richard J. Bressler

     79,998,889        1,198,247        5,031,061  

James C. Carlisle

     79,717,823        1,479,313        5,031,061  

John P. Connaughton

     80,251,509        945,627        5,031,061  

Charles H. Cremens

     80,679,984        517,152        5,031,061  

Matthew J. Freeman

     80,268,996        928,140        5,031,061  

Laura A. Grattan

     80,268,958        928,178        5,031,061  

Blair E. Hendrix

     79,717,546        1,479,590        5,031,061  

Jonathon S. Jacobson

     20,465,632        1,209,234        5,031,061  

Robert W. Pittman

     80,237,177        959,959        5,031,061  

Scott M. Sperling

     79,981,148        1,215,988        5,031,061  

2. The advisory resolution on executive compensation was approved.

Proposal 2: Approval of the advisory (non-binding) resolution on executive compensation

 

     For      Against      Abstain      Broker
Non-Vote
 

Class A Common Stock

     20,421,657        739,021        514,188        5,031,061  

Class B Common Stock

     59,522,270        —          —          N/A  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

     79,943,927        739,021        514,188        5,031,061  
  

 

 

    

 

 

    

 

 

    

 

 

 

3. In the advisory vote on the frequency of future advisory votes on executive compensation, votes were cast as set forth below. In light of the voting results, the Company’s Board of Directors has decided that the Company will include an advisory vote on executive compensation in its proxy materials once every three years until the next required advisory vote on the frequency of future advisory votes on executive compensation. In accordance with the rules and regulations of the Securities and Exchange Commission, the Company is required to hold an advisory vote on the frequency of future advisory votes on executive compensation at least once every six years.

Proposal 3: Advisory (non-binding) vote on the frequency of future advisory votes on executive compensation

 

     1 year      2 years      3 years      Abstain      Broker
Non-Vote
 

Class A Common Stock

     1,416,463        23,024        19,646,188        589,191        5,031,061  

Class B Common Stock

     —          —          59,522,270        —          N/A  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

     1,416,463        23,024        79,168,458        589,191        5,031,061  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

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4. The selection of Ernst & Young LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2017 was ratified.

Proposal 4: Ratification of the selection of Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2017

 

     For      Against      Abstain      Broker
Non-Vote

Class A Common Stock

     26,023,325        132,145        550,457      N/A

Class B Common Stock

     59,522,270        —          —        N/A
  

 

 

    

 

 

    

 

 

    

 

Total

     85,545,595        132,145        550,457      N/A
  

 

 

    

 

 

    

 

 

    

 

 

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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.

 

    IHEARTMEDIA, INC.
Date: June 1, 2017     By:   /s/ Lauren E. Dean
      Lauren E. Dean
      Vice President, Associate General Counsel and Assistant Secretary

 

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