Clear Channel Outdoor Insider Adds 1.48M Shares, Stake Hits 65.6M

Rhea-AI Filing Summary

SEC Form 4 shows that director and 10% owner Arturo R. Moreno increased his direct stake in Clear Channel Outdoor Holdings (CCO) through three open-market purchases totaling 1,478,507 common shares.

• 29 Jul 2025: 28,507 sh. at $1.09 (weighted avg.)
• 30 Jul 2025: 450,000 sh. at $1.09
• 31 Jul 2025: 1,000,000 sh. at $1.07

After the transactions, Moreno owns 65,612,859 shares directly, up ≈2.3% from the ≈64.1 M shares held before 29 Jul. No sales or derivative activity were reported, and the Rule 10b5-1 checkbox was not selected, indicating discretionary buying.

The purchases were executed in a narrow $1.06–$1.10 range, suggesting confidence at current valuation. Large insider accumulation by a significant shareholder often serves as a positive sentiment indicator for investors monitoring CCO.

Positive

• Sizeable insider purchase: 1.48 M shares acquired within three days, boosting stake by ≈2.3%.
• Discretionary buying: Rule 10b5-1 box not checked, implying active conviction.
• Price support: Transactions clustered at $1.06–$1.10 suggest perceived undervaluation by major holder.

Negative

• None.

Insights

Securities Analyst

TL;DR: 10% owner adds 1.48 M shares at ~$1.08, signalling bullish insider conviction.

Moreno’s aggregated $1.6 M outlay (at the reported weighted averages) lifts his ownership to 65.6 M shares, roughly 13% of CCO’s outstanding float. The absence of derivative hedges or concurrent sales strengthens the buy-signal quality. While the dollar size is modest versus market cap, insider accumulation after a prolonged price decline can attract momentum and value investors. Impact is positive but not transformative to fundamentals.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MORENO ARTURO R

(Last) (First) (Middle)

C/O MORENO COMPANIES, LLC

4455 E. CAMELBACK ROAD, SUITE C140

(Street)

PHOENIX AZ 85018

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clear Channel Outdoor Holdings, Inc. [ CCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/29/2025		P		28,507	A	$1.09(1)	64,162,859	D
Common Stock	07/30/2025		P		450,000	A	$1.09(2)	64,612,859	D
Common Stock	07/31/2025		P		1,000,000	A	$1.07(3)	65,612,859	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $1.08 to $1.095. The reporting person undertakes to provide to the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within range set forth herein.

2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $1.07 to $1.10. The reporting person undertakes to provide to the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within range set forth herein.

3. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $1.06 to $1.08. The reporting person undertakes to provide to the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within range set forth herein.

	/s/ Arturo R. Moreno	07/31/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many CCO shares did Arturo R. Moreno purchase in July 2025?

He bought 1,478,507 common shares between 29–31 Jul 2025.

What is Moreno’s total CCO ownership after the purchases?

He now directly owns 65,612,859 shares.

At what prices were the CCO shares acquired?

Weighted average prices ranged from $1.06 to $1.10 per share.

Was the transaction executed under a Rule 10b5-1 trading plan?

No. The 10b5-1 affirmative-defense checkbox was not selected.

Did the filing report any sales or derivative trades?

No sales or derivative security transactions were disclosed.