[SCHEDULE 13D/A] OUTFRONT Media Inc. SEC Filing

Rhea-AI Filing Summary

Amendment No. 4 to a Schedule 13D reports that multiple Providence Equity-related investment vehicles (the "PEP SPVs") executed an unregistered block trade on September 3, 2025, selling specified amounts of OUTFRONT Media Inc. common stock at $18.06 per share. The filing lists current beneficial ownership by each reporting person and states the aggregate PEP position as 8,919,813 shares, representing 5.3% of the 167,224,576 shares outstanding used for the percentage calculation. The filing also notes that Mr. Michael J. Dominguez, a director of a Providence entity and of OUTFRONT, beneficially owns 41,199 shares held for affiliated funds. The statement clarifies control relationships among the Providence entities and disclaims beneficial ownership where applicable.

Positive

• Full disclosure of a block trade including number of shares sold and per-share price ($18.06)
• Detailed per-entity holdings provided, allowing clear calculation of ownership by each Providence vehicle
• Aggregate ownership disclosed as 8,919,813 shares, equal to 5.3% of outstanding shares used for the calculation
• Clear statement of control relationships among Providence entities, aiding governance transparency

Negative

• Multiple PEP SPVs sold shares in an unregistered block trade, which reduced direct holdings by those vehicles
• Public filing shows director-affiliate holdings (Mr. Michael J. Dominguez: 41,199 shares), which could raise questions about affiliated insider holdings

Insights

Financial Analyst

TL;DR: Providence vehicles sold a block of OUT shares; aggregate Providence stake is 5.3%, with detailed per-vehicle holdings disclosed.

The filing documents a disciplined, disclosed block sale of OUTFRONT (OUT) shares at $18.06 per share by several PEP SPVs. It simultaneously updates per-entity holdings and confirms an aggregate beneficial ownership of 8,919,813 shares (5.3% of the stated outstanding). For analysts this is a routine institutional liquidity event with full Section 13D disclosure: it provides clear share counts by vehicle and clarifies governance/control relationships among Providence entities, which helps model potential shareholder influence but does not by itself indicate strategic change in control or a material shift in voting alignment.

Corporate Governance Expert

TL;DR: Filing clarifies ownership structure and voting/control relationships; sale was an unregistered Rule 144 block trade.

The amendment is governance-relevant because it updates ownership percentages across multiple affiliated entities and expressly describes which entities share voting and dispositive control. It discloses an unregistered block trade under Rule 144 by specific PEP SPVs, while several entities disclaim beneficial ownership of other SPVs' holdings. That level of transparency is useful for evaluating potential coordinated voting, director-affiliate holdings (notably Mr. Dominguez's 41,199 shares held for funds) and any future covenant or investor-relations implications, but the filing contains no indication of an intent to seek control changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

OUTFRONT Media Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

69007J106

(CUSIP Number)

Morgan Hayes
Debevoise & Plimpton LLP, 66 Hudson Blvd E
New York, NY, 10001
212-909-6983

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/03/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

Providence Equity Partners VIII-A L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,446,728.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,446,728.00

11

Aggregate amount beneficially owned by each reporting person

2,446,728.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.5 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for Providence Equity Partners VIII-A L.P.. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII International Ltd.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,913,813.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,913,813.00

11

Aggregate amount beneficially owned by each reporting person

8,913,813.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII International Ltd. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

Providence Equity GP VIII L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,913,813.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,913,813.00

11

Aggregate amount beneficially owned by each reporting person

8,913,813.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.3 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for Providence Equity GP VIII L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII (Scotland) International Ltd.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,920.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,920.00

11

Aggregate amount beneficially owned by each reporting person

36,920.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII (Scotland) International Ltd. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

Providence Equity GP VIII (Scotland) L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,920.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,920.00

11

Aggregate amount beneficially owned by each reporting person

36,920.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for Providence Equity GP VIII (Scotland) L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

Providence Equity Partners VIII (Scotland) L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,920.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,920.00

11

Aggregate amount beneficially owned by each reporting person

36,920.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for Providence Equity Partners VIII (Scotland) L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII Intermediate 5 L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,584,358.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,584,358.00

11

Aggregate amount beneficially owned by each reporting person

3,584,358.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII Intermediate 5 L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII Intermediate 6 L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,225,114.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,225,114.00

11

Aggregate amount beneficially owned by each reporting person

1,225,114.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII Intermediate 6 L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII Advertising Co-Investment L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,620,693.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,620,693.00

11

Aggregate amount beneficially owned by each reporting person

1,620,693.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.0 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII Advertising Co-Investment L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 8,913,813.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 8,913,813.00

11

Aggregate amount beneficially owned by each reporting person

8,913,813.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII GP LLC is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII-A SPV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,446,728.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,446,728.00

11

Aggregate amount beneficially owned by each reporting person

2,446,728.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.5 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII-A SPV, L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII (Scotland) SPV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 36,920.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 36,920.00

11

Aggregate amount beneficially owned by each reporting person

36,920.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII (Scotland) SPV L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII SPV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,584,358.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,584,358.00

11

Aggregate amount beneficially owned by each reporting person

3,584,358.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII SPV, L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII-A AIV SPV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,225,114.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,225,114.00

11

Aggregate amount beneficially owned by each reporting person

1,225,114.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII-A AIV SPV, L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

CUSIP No. 69007J106

1

Name of reporting person

PEP VIII Co-Invest SPV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,620,693.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,620,693.00

11

Aggregate amount beneficially owned by each reporting person

1,620,693.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.0 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Row 13 - The ownership percentage set forth herein for PEP VIII Co-Invest SPV, L.P. is calculated based on a total of 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securites and Exchange Commission on August 6, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: OUTFRONT Media Inc.
(c)	Address of Issuer's Principal Executive Offices: 90 Park Avenue, 9th Floor, New York, NEW YORK , 10016.
Item 1 Comment: This Amendment No. 4 to the statement on Schedule 13D amends and supplements the statement on Schedule 13D filed by the Reporting Persons on April 27, 2020, as amended by Amendment No. 1 thereto dated May 8, 2020, Amendment No. 2 thereto dated September 21, 2020 and Amendment No.3 thereto dated March 3, 2022 (the "Original Schedule 13D," and together with this Amendment No. 4, this "Schedule 13D"). Except as amended in Amendment No. 1, Amendment No.2, Amendment No. 3 and this Amendment No. 4, the Original Schedule 13D remains in full force and effect. Terms defined in the Original Schedule 13D are used in this Amendment No. 4 as so defined, unless otherwise defined in this Amendment No. 4.
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby supplemented as follows: On September 3, 2025, PEP VIII (Scotland) SPV, L.P., PEP VII Co-Invest SPV, L.P., PEP VIII SPV, L.P., PEP VIII-A AIV SPV, L.P. and PEP VIII-A SPV, L.P. (collectively the "PEP SPVs") sold 34,791 shares, 1,527,273 shares, 3,377,747 shares, 1,154,496 shares and 2,305,693 shares of Common Stock, respectively, for $18.06 per share in an unregistered block trade pursuant to Rule 144 under the Securities Act of 1933, as amended.
Item 5.	Interest in Securities of the Issuer
(a)	The information relating to the beneficial ownership of Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 167,224,576 shares of Common Stock outstanding as of August 5, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on August 6, 2025. - PEP VIII-A SPV directly holds 2,446,728 shares of Common Stock or 1.5% of the deemed issued and outstanding shares of Common Stock; - PEP Scotland SPV directly holds 36,920 shares of Common Stock or less than 0.03% of the deemed issued and outstanding shares of Common Stock; - PEP 5 SPV directly holds 3,584,358 shares of Common Stock or 2.1% of the deemed issued and outstanding shares of Common Stock; - PEP 6 SPV directly holds 1,225,114 shares of Common Stock or 0.7% of the deemed issued and outstanding shares of Common Stock; and - PEP Advertising SPV directly holds 1,620,693 shares of Common Stock or 1.0% of the deemed issued and outstanding shares of Common Stock. The Reporting Persons, in the aggregate, beneficially own 8,919,813 shares of Common Stock or 5.3% of the deemed issued and outstanding shares of Common Stock. Additionally, Mr. Michael J Dominguez, who is a director of PEP International and a director of the Issuer, beneficially owns 41,199 shares of Common Stock. Any securities issued to Mr. Dominguez for his service as a director of the Issuer are held by Mr. Domingues for the benefit of funds or entities affiliated with PEP International. PEP International is the sole general partner of PEP GP VIII. PEP GP VIII is the sole general perner of each of the Initial PEP Direct Holders other than PEP Scotland, and the sole member of SPV GP. PEP GP VIII is also the holder of all of the equity interests in PEP Scotland International. PEP Scotland International is the sole general pertner of PEP FP Scotland. PEP GP Scotland is the sole general partner of PEP Scotland. By virtue of such relationships, (i) PEP Scotland International, PEP GP Scotland and PEP Scotland have shared voting and investment control with respect to the 36,920 shares of Common Stock directy held by PEP Scotland SPV and (ii) SPV Gp, PEP GP VIII and PEP International have shared voting and investment control with respect to the 8,913,813 shares of Common Stock directly held in the aggregate by the PEP SPVs. For purposes of Rule 13d-3 under the Act, (i) PEP Scotland, PEP Scotland International and PEP GP Scotland may be deemed to beneficially own less that 0.1% of the deemed issued and outstanding shares of Common Stock and (ii) SPV GP, PEP GP VIII and PEP International may be deemed to beneficially own 8,913,813 shares of Common Stock or 5.3% of the deemed issued and outstanding shares of Common Stock. PEP Intenational, PEP GP VIII, PEP Scotland International, PEP GP Scotland, SPV GP, PEP VIII-A, PEP Scotland, PEP 5, PEP 6 and PEP Advertising each isclain beneficial ownership of the securities referred to in this Amendment No. 4, and the filing of this Amendment No. 4 should not be construed as an admission that any of PEP International, PEP GP VIII, PEP Scotland International, PEP GP Scotland, SPV GP, PEP VIII-A, PEP Scotland, PEP 5, PEP 6 and PEP Advertising is, for the purpose of Schedule 13D, the beneficial owner of any securities covered by this statement. Each of the PEP SPVs disclaims beneficial ownership of the securities held directly by the other PEP SPVs.
(b)	The information relating to the beneficial ownership of Common Stock by each of the Reporting Persons set forth in Rows 7 through 10 of the cover pages hereto is incorporated by reference herein.
(c)	Except as disclosed herein, none of the Reporting Persons have, nor, to their knowledge, have any of the Schedule A Persons, effected any transactions during the past sixty (60) days in any securities of the Issuer.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Providence Equity Partners VIII-A L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde / Authorized Signatory
Date:	09/05/2025

PEP VIII International Ltd.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde / Authorized Signatory
Date:	09/05/2025

Providence Equity GP VIII L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde / Authorized Signatory
Date:	09/05/2025

PEP VIII (Scotland) International Ltd.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

Providence Equity GP VIII (Scotland) L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

Providence Equity Partners VIII (Scotland) L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

PEP VIII Intermediate 5 L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

PEP VIII Intermediate 6 L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

PEP VIII Advertising Co-Investment L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

PEP VIII GP LLC

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde/ Authorized Signatory
Date:	09/05/2025

PEP VIII-A SPV, L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde
Date:	09/05/2025

PEP VIII (Scotland) SPV, L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde
Date:	09/05/2025

PEP VIII SPV, L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde
Date:	09/05/2025

PEP VIII-A AIV SPV, L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde
Date:	09/05/2025

PEP VIII Co-Invest SPV, L.P.

Signature:	/s/ Sarah N. Conde
Name/Title:	Sarah N. Conde
Date:	09/05/2025

FAQ

What did Providence Equity disclose in the Schedule 13D/A for OUT (OUTFRONT)?

The filing amends a prior Schedule 13D to disclose that several Providence Equity SPVs sold shares in an unregistered block trade at $18.06 per share and to update each reporting person's beneficial ownership.

How many OUT shares does Providence Equity beneficially own after the amendment?

The filing states the Reporting Persons in the aggregate beneficially own 8,919,813 shares, representing 5.3% of the 167,224,576 shares used for the calculation.

Which Providence entities sold shares and how many did each sell?

The filing discloses that on September 3, 2025, PEP VIII (Scotland) SPV, PEP VIII Co-Invest SPV, PEP VIII SPV, PEP VIII-A AIV SPV and PEP VIII-A SPV sold 34,791; 1,527,273; 3,377,747; 1,154,496; and 2,305,693 shares, respectively.

At what price were the OUTFRONT shares sold in the reported block trade?

The disclosed sale price for the unregistered block trade was $18.06 per share.

Does the filing indicate any change in control or coordinated intent by Providence Equity?

The filing clarifies control relationships and disclaims certain beneficial ownerships but contains no express statement of intent to change or seek control of OUTFRONT.