X0306 4 2016-02-26 0 0001334978 Clear Channel Outdoor Holdings, Inc. CCO 0001472175 Eccleshare Christopher William C/O CLEAR CHANNEL OUTDOOR HOLDINGS, INC. 200 EAST BASSE ROAD, SUITE 100 SAN ANTONIO TX 78209 0 1 0 0 See Remarks Class A Common Stock 2016-02-26 4 A 0 55315 0.00 A 369683 D The reported item represents a restricted stock unit award, which vest 50% on each of March 1, 2016 and March 1, 2017. Upon vesting of the units, the reporting person shall be entitled to receive a number of shares of Class A Common Stock equal to the number of units then vesting. The reporting person received the restricted stock unit award under the issuer's 2012 Stock Incentive Plan. On February 4, 2016, the issuer paid a special cash dividend of $1.4937 per share to its stockholders. In connection with the dividend, the company issued restricted stock units to persons, including the reporting person, who previously had been granted restricted stock units, as an anti-dilution adjustment. The award to the reporting person is reported herein. Reflects 10,756 shares withheld for taxes on February 1, 2016 on restricted stock units that vested on January 22, 2016 Chairman and Chief Executive Officer of Clear Channel International /s/ Robert H. Walls, Jr, as Attorney-in-Fact on behalf of Christopher William Eccleshare 2016-03-01