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Filing Details

Accession Number:: 0001209191-21-021823
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-03-18 17:35:39
Reporting Period:: 2021-03-16

Accepted Time:: 2021-03-18 17:35:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1319161	Warner Music Group Corp.	WMG	Services-Amusement & Recreation Services (7900)	134271875

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1807479	Max Lousada	C/O Warner Music Group Corp. 1633 Broadway New York NY 10019	Ceo, Recorded Music	No	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Disposition	2021-03-16	484,460	$33.25	1,598,784	No	4	S	Indirect	By LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By LLC

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	2,607,026	Direct

Footnotes

Represents shares of the Issuer's Class A Common Stock sold pursuant to the redemption of 535,000 Class B Units of Management LLC, after taking into account a number of shares of Class B Common Stock having a value equal to $1,705,700 on the date of such redemption, which is the sum of the benchmark amounts of the Class B Units redeemed.
Shares of the Issuer's Class A Common Stock represented by 1,598,784 Class B Units of WMG Management Holdings, LLC ("Management LLC") pursuant to the terms of, and subject to the limitations and restrictions set forth in, the Second Amended and Restated Limited Liability Company Agreement of Management LLC, as amended, these Class B Units are redeemable for a number of shares of the Issuer's Class B Common Stock equal to 1,598,784 less a number of shares of Class B Common Stock having a value equal to $5,097,281 on the date of such redemption (the "Benchmark Shares"), which is the sum of the benchmark amounts of the Class B Units. The reporting person expressly disclaims beneficial ownership of the Benchmark Shares.
Any shares of the Issuer's Class B Common Stock issued to the reporting person upon a redemption of Class B Units will immediately and automatically convert to shares of the Issuer's Class A Common Stock on a one-for-one basis, and the corresponding Class B Units will be cancelled.
Represents vested Deferred Equity Units issued under the Second Amended and Restated Warner Music Group Corp. Senior Management Free Cash Flow Plan (the "Plan"). These Deferred Equity Units will be settled for shares of the Issuer's Class A Common Stock on a one-for-one basis by no later than December 31, 2025. Upon such settlement, the corresponding Deferred Equity Units will be cancelled.