iHeartMedia Extends Contracts for Pittman, Bressler
| RADIO ONLINE | Tuesday, September 2, 2025 | 3:40pm CT |
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 iHeartMedia |
iHeartMedia has extended the employment agreements of Chairman and CEO Bob Pittman and President, COO and CFO Rich Bressler through December 31, 2029, according to a filing with the Securities and Exchange Commission. Both executives' prior contracts had been set to expire in 2026.
The amendments also clarify retirement provisions, allowing equity awards granted at least six months before a qualifying retirement to remain outstanding and continue vesting on their original schedule, including performance-based awards tied to results.
Bressler's agreement was further adjusted to increase his cash severance multiplier from 1.5x to 2x, aligning his severance benefits with Pittman's package in the event of a qualifying termination.
Additional updates were made to both executives' contracts regarding use of company aircraft for security purposes and retirement termination procedures, including lump-sum payouts of accrued salary and bonuses within 45 days of retirement.
The agreements, originally amended in March 2022, remain in effect in all other respects and will automatically terminate at the end of 2029 unless further extended by mutual agreement.
