X0306 4 2017-05-10 0 0001334978 Clear Channel Outdoor Holdings, Inc. CCO 0001464683 Temple Chris C/O CLEAR CHANNEL OUTDOOR HOLDINGS, INC. 200 E. BASSE ROAD SAN ANTONIO TX 78209 1 0 0 0 Stock Option (Right to Buy) 7.65 2017-05-10 4 D 0 11776 0.00 D 2017-08-24 Class A Common Stock 11776 0 D Stock Option (Right to Buy) 7.65 2017-05-10 4 A 0 11776 0.00 A 2017-05-26 2023-12-17 Class A Common Stock 11776 11776 D Stock Option (Right to Buy) 4.93 2017-05-10 4 D 0 16493 0.00 D 2017-08-24 Class A Common Stock 16493 0 D Stock Option (Right to Buy) 4.93 2017-05-10 4 A 0 16493 0.00 A 2017-05-26 2024-08-19 Class A Common Stock 16493 16493 D Stock Option (Right to Buy) 7.53 2017-05-10 4 D 0 15868 0.00 D 2017-08-24 Class A Common Stock 15868 0 D Stock Option (Right to Buy) 7.53 2017-05-10 4 A 0 15868 0.00 A 2017-05-26 2025-06-24 Class A Common Stock 15868 15868 D Stock Option (Right to Buy) 6.47 2017-05-10 4 D 0 10000 0.00 D 2017-08-24 Class A Common Stock 10000 0 D Stock Option (Right to Buy) 6.47 2017-05-10 4 A 0 10000 0.00 A 2017-05-26 2021-05-16 Class A Common Stock 10000 10000 D Stock Option (Right to Buy) 5.75 2017-05-10 4 D 0 10000 0.00 D 2017-08-24 Class A Common Stock 10000 0 D Stock Option (Right to Buy) 5.75 2017-05-10 4 A 0 10000 0.00 A 2017-05-26 2022-03-29 Class A Common Stock 10000 10000 D The reported transactions involve the amendment of five outstanding option grants, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The reporting person's term as a director will expire on May 26, 2017. The amendments extended the post-service exercise period from 90 days after termination of service as a director (August 24, 2017) to the remainder of each option's original 10-year term, and accelerated the vesting of all unvested option grants. Of these options, 8,832 were vested as of the date of this report and 2,944 were scheduled to vest on December 13, 2017. Of these options, 12,369 were vested as of the date of this report and 4,124 were scheduled to vest on April 4, 2018. Of these options, 3,967 were vested as of the date of this report and 3,967 were scheduled to vest on each of June 24, 2017, June 24, 2018 and June 24, 2019. These options were vested. These options were vested. /s/ Lauren E. Dean, as Attorney-in-Fact for Christopher Temple 2017-05-11