Thomas King
Clear Channel Outdoor HoldingsAbout Thomas C. King
Thomas C. King, age 64, has been an independent director of Clear Channel Outdoor Holdings, Inc. since 2019 and serves as Chair of the Compensation Committee. He is an Operating Partner at Atlas Merchant Capital (since November 2018) and previously held senior roles at Barclays PLC, including CEO of Investment Banking and Chairman of the Investment Banking Executive Committee; he also sat on the Barclays Group Executive Committee. King holds a B.A. in Economics from Bowdoin College and an MBA in Finance from The Wharton School, University of Pennsylvania .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Atlas Merchant Capital | Operating Partner | Nov 2018–Present | Private equity operating role |
| Barclays PLC | CEO, Investment Banking; Chairman, Investment Banking Executive Committee; Member, Group Executive Committee | Dec 2009–Mar 2016 | Led IB; Executive Committee oversight |
| Leerink Partners LLC | Director | Until Jan 2019 (sale) | Board service at healthcare/life sciences IB |
| Panmure Gordon | Director | Dec 2018–May 2024 (merger with Liberum) | UK corporate/institutional IB board service |
| Radius Global Infrastructure, Inc. (NASDAQ: RADI) | Director | Nov 2020–Sep 2023 (sale) | Digital infrastructure rental streams |
| Concord Acquisition Corp | Director | Dec 2020–Dec 2022 (delisting) | SPAC board |
| Concord Acquisition Corp II | Director | Sep 2021–Jan 2023 | SPAC board |
| Concord Acquisition Corp III (NYSE: CNDB) | Director | Nov 2021–Mar 2024 (merger with GCT Semiconductor) | SPAC board; merger consummated |
| Silicon Valley Bank | Director | Sep 2022–Mar 2023 | Bank board service |
| SVB Financial Group | Director | Sep 2022–Nov 2024 (reorganization) | Holding company board service |
External Roles
| Organization | Role | Status |
|---|---|---|
| Atlas Merchant Capital | Operating Partner | Active since Nov 2018 |
Board Governance
- Committee assignments: Chair, Compensation Committee; not listed as a member of Audit or Nominating & Corporate Governance (NCGC) as of April 2, 2025 .
- Committee independence and remit: Compensation Committee (King as Chair) is fully independent under NYSE/SEC standards; members are non-employee directors and can retain independent advisors and compensation consultants; oversees executive compensation philosophy and programs .
- Attendance: In 2024 the Board held 13 meetings; all incumbent directors attended at least 87% of aggregate Board and committee meetings. Independent directors met in executive session at least once; the Board has 10 directors, 9 independent, led by an independent non-executive Chair .
- Governance policies: Written committee charters assessed annually; Board self-evaluation process overseen by NCGC; prohibition on hedging or pledging of Company equity for directors, executives, and employees; stock ownership guidelines are disclosed as “significant” for senior executives and directors (numeric thresholds disclosed for executives; director numeric guideline not specified in the proxy) .
- Committee meeting counts (2024): Audit 4; Compensation 6; NCGC 5 .
Fixed Compensation
| Program Terms (Independent Directors) | Amount |
|---|---|
| Annual cash retainer | $75,000 |
| Annual equity grant (RSUs) | $150,000; generally granted in Q1; vests in full Jan 1 of following year |
| Chair fees | Board Chair $50,000; Audit Chair $25,000; Compensation Chair $20,000; NCGC Chair $15,000 |
| Committee member fees (non-chair) | Audit $15,000; Compensation $10,000; NCGC $7,500 |
| Meeting fees | None |
| Retainer election | Directors may elect up to 100% of cash retainer in RSUs |
2024 Director Compensation (Thomas C. King)
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Thomas King | — | $244,998 | $244,998 |
RSU Grants and Elections (2024)
| Award Type | Grant Date | Shares | Vesting |
|---|---|---|---|
| Annual time-based RSUs | Feb 15, 2024 | 80,213 | Vested in full Jan 1, 2025 |
| RSUs in lieu of cash retainer/committee fees | 2024 (per program) | 50,802 | One-fourth on Apr 1, 2024; Jul 1, 2024; Oct 1, 2024; Jan 1, 2025 |
Performance Compensation
| Metric Category | Director Equity Program Application |
|---|---|
| Performance metrics (e.g., revenue growth, EBITDA, TSR) | Not applicable; director equity is time-based RSUs only; directors do not receive PSUs |
| Clawback applicability | Clawback policy applies to incentive-based compensation tied to financial reporting; primarily executive officers; policy disclosed at Company level |
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Current public company boards | None disclosed beyond CCO; prior public boards listed under Past Roles |
| Compensation Committee interlocks | None; no member simultaneously served as a CCO executive officer in 2024; no Item 404 relationships for Compensation Committee members |
| Related-party transactions review | Formal policy requiring Audit Committee or disinterested director approval; focus on fairness and stockholder interests |
Expertise & Qualifications
- Extensive investment banking, M&A, and corporate finance experience; strong knowledge of financial markets; significant public company board service .
- Education: B.A. Economics (Bowdoin); MBA Finance (Wharton) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Shares Outstanding Reference |
|---|---|---|---|
| Thomas King | 645,965 | <1% (asterisk denotes less than 1%) | 496,624,429 shares outstanding as of Apr 2, 2025 |
Ownership Alignment and Restrictions
- Director stock ownership guidelines: Company discloses “significant stock ownership guidelines” for directors (specific numeric thresholds for directors not detailed in proxy) .
- Anti-hedging/anti-pledging: Directors are prohibited from hedging or pledging Company equity, enhancing alignment with stockholders .
Governance Assessment
- Committee leadership and effectiveness: As Compensation Committee Chair, King oversees executive pay philosophy and retains authority to engage independent advisors and consultants; committee is fully independent under NYSE/SEC heightened standards .
- Shareholder support signal: In 2025, King received 328,786,960 votes “For” and 28,045,121 “Withheld” in his director election; Say-on-Pay passed with 353,367,066 “For” vs 3,422,684 “Against,” indicating strong overall support for governance and compensation framework .
- Attendance and engagement: Board met 13 times in 2024; all incumbent directors attended at least 87% of Board/committee meetings; independent directors held executive sessions, supporting robust oversight .
- Compensation alignment: King elected to receive his cash retainer and committee fees in RSUs (50,802 shares with quarterly vesting), in addition to standard annual RSUs (80,213 shares), increasing equity alignment and reducing fixed cash .
- Independence and conflicts: Board affirmed King’s independence; routine ordinary-course transactions involving family members employed by counterparties were reviewed and deemed non-impairing to independence; no Compensation Committee interlocks or Item 404 relationships disclosed for King .
- RED FLAGS: None disclosed relating to hedging/pledging, option repricing, loans, or related-party transactions. Note that King’s prior board service at Silicon Valley Bank and SVB Financial Group is disclosed factually; the proxy does not identify any related-party concerns or independence impairments arising from these roles .