X0306 4 2020-02-03 0 0001334978 Clear Channel Outdoor Holdings, Inc. CCO 0001456330 WELLS SCOTT C/O CLEAR CHANNEL OUTDOOR HOLDINGS, INC. 4830 NORTH LOOP 1604W, SUITE 111 SAN ANTONIO TX 78249 0 1 0 0 EVP and CEO - Americas Stock Option (Right to Buy) 6.85 2020-02-03 4 A 0 84650 0.00 A 2020-02-03 2025-03-03 Common Stock 84650 338600 D On March 3, 2015, the reporting person was granted an option to purchase 338,600 shares of the common stock under the Clear Channel Outdoor Holdings, Inc. 2012 Stock Incentive Plan. Fifty percent of the award vests over time (the "Time Vesting Options") and fifty percent of the award has performance-based vesting (the "Performance Options"). On February 3, 2020, the performance criteria for half of the Performance Options was met, resulting in the vesting of 84,650 Performance Options. The reported options were previously reported in the reporting person's Form 4, filed on March 3, 2015 and amended on September 23, 2015. Column 9 also includes 84,650 Performance Options that remain unearned and will vest, if at all, based on achievement of performance conditions, and 169,300 Time Vesting Options that have fully vested. /s/ Lynn A. Feldman, as Attorney-in-fact on behalf of Scott Wells 2020-02-05