Warner Music director receives 38-share stock award

Warner Music Group Corp. director Nancy Dubuc reported an acquisition of 38 shares of Class A common stock on a grant or award basis, with no cash price per share.

Rhea-AI Filing Summary

Warner Music Group Corp. director Nancy Dubuc reported an acquisition of 38 shares of Class A common stock on a grant or award basis, with no cash price per share. The filing notes these reflect dividend equivalent rights accrued on outstanding restricted stock units, and total direct holdings increased to 29,944 shares, including restricted stock units.

Insider Trade Summary

Grant/Award: 38 shares

Grant/Award 1 txn

Insider Dubuc Nancy

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	38	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 29,944 shares (Direct)

Footnotes (2)

1. F1. Reflects dividend equivalent rights accrued on outstanding restricted stock units.
2. F2. Includes restricted stock units.

Key Figures

Shares granted: 38 shares Price per granted share: $0.00 per share Total shares after transaction: 29,944 shares

3 metrics

Shares granted 38 shares Class A Common Stock grant/award on 2026-06-02

Price per granted share $0.00 per share Indicated transaction price for the award

Total shares after transaction 29,944 shares Direct holdings following award, including restricted stock units

Key Terms

restricted stock units, dividend equivalent rights, Class A Common Stock, Grant, award, or other acquisition

4 terms

restricted stock units financial

"Reflects dividend equivalent rights accrued on outstanding restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

dividend equivalent rights financial

"Reflects dividend equivalent rights accrued on outstanding restricted stock units."

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

Class A Common Stock financial

"security_title: Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Warner Music Group (WMG) director Nancy Dubuc report in this Form 4?

Nancy Dubuc reported receiving 38 shares of Warner Music Group Class A common stock as a grant. The shares reflect dividend equivalent rights on restricted stock units and were acquired at no cash cost, increasing her direct holdings to 29,944 shares including restricted stock units.

Is Nancy Dubuc’s Warner Music (WMG) Form 4 transaction a stock purchase or a grant?

The Form 4 shows a grant or award acquisition, not an open-market purchase. Code "A" and a zero price indicate compensatory shares, tied to dividend equivalent rights on restricted stock units rather than a cash purchase on the market.

How many Warner Music Group (WMG) shares does Nancy Dubuc hold after this Form 4?

After the reported grant, Nancy Dubuc directly holds 29,944 shares of Warner Music Group Class A common stock. This total explicitly includes restricted stock units, as disclosed, and incorporates the newly credited 38 dividend-equivalent shares from outstanding restricted stock units.

What is the size of Nancy Dubuc’s latest Warner Music (WMG) stock award?

The latest award for Nancy Dubuc consists of 38 shares of Class A common stock. These shares represent dividend equivalent rights on existing restricted stock units and carry an indicated price of $0.00 per share, consistent with a non-cash, compensation-related grant.

What do the dividend equivalent rights mean in this Warner Music (WMG) Form 4?

Dividend equivalent rights credit additional shares when dividends are paid on underlying restricted stock units. In this case, 38 extra Class A shares were granted to Nancy Dubuc to mirror dividends on her outstanding restricted stock units, increasing her overall equity position without a cash transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/04/2026 - 05:00 PM EDT Learn about SEC filing dates

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^*

Dubuc Nancy

(Last) (First) (Middle)

C/O WARNER MUSIC GROUP CORP.

1633 BROADWAY

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Warner Music Group Corp. [ WMG ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

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

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

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

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
Class A Common Stock	06/02/2026		A		38(1)	A	$0	29,944(2)	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. Reflects dividend equivalent rights accrued on outstanding restricted stock units.

2. Includes restricted stock units.

	/s/ Trent N. Tappe, as Attorney-In-Fact	06/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)