Form 4: Robert Millard Reports iHeartMedia Stock Transactions

Robert Millard, a director at iHeartMedia, reports the acquisition of Class A Common Stock and deferred stock units (DSUs).

Summary

• Robert Millard, a director of iHeartMedia, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On May 13, 2025, Millard acquired 91,463 shares of Class A Common Stock at $1.23 per share.
• Additionally, Millard acquired 121,951 deferred stock units (DSUs) at $0 per unit.
• Millard directly owns 213,414 shares of Class A Common Stock.
• Millard indirectly owns 1,023,012 shares through GRAT Five and 460,000 shares through GRAT Three.
• The DSUs vest in quarterly installments starting June 30, 2025, or in full on May 13, 2026, or the company's 2026 annual meeting.
• Settlement of the DSUs is deferred until a separation from service, a change in control, death, or disability.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing of stock transactions by a director. The acquisition of shares and DSUs could be interpreted as a slightly positive signal, but it's not definitively bullish.

Positives

• The acquisition of shares and DSUs by a director could be seen as a positive signal about the company's prospects.

Future Outlook

Settlement of the DSUs is deferred until within 45 days of the earliest to occur of (i) the Reporting Person's separation from service, (ii) a change in control, (iii) the Reporting Person's death, or (iv) the Reporting Person's disability.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's future prospects.

Comparison to Industry Standards

• Comparing Millard's transactions to those of other directors in similar media companies would provide a better understanding of whether these transactions are typical or indicative of a specific trend at iHeartMedia.
• For example, if directors at companies like Sirius XM or Spotify are also increasing their holdings, it could signal a broader positive outlook for the audio entertainment industry.

Stakeholder Impact

• The transactions could have a minor positive impact on shareholder sentiment.

Key Dates

Keywords

iHeartMedia, Robert Millard, Form 4, beneficial ownership, Class A Common Stock, deferred stock units, DSUs, director, GRAT