What is the nature of the 38-share award to Warner Music Group (WMG) director Mathias Dopfner?

The 38-share award represents dividend equivalent rights accrued on outstanding restricted stock units. Instead of receiving cash dividends, Dopfner was credited additional Class A Common Stock, which is a common equity-based compensation feature for restricted stock unit holders.

Dividend-equivalent share award boosts Warner Music (WMG) director holdings

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Dopfner Mathias reported acquisition or exercise transactions in this Form 4 filing.

Warner Music Group Corp. director Mathias Dopfner received an award of 38 shares of Class A Common Stock at no cost, increasing his direct holdings to 32,277 shares. The award reflects dividend equivalent rights accrued on outstanding restricted stock units and the total includes restricted stock units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Dopfner Mathias

Role null

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

Holdings After Transaction: Class A Common Stock — 32,277 shares (Direct, null)

Footnotes (1)

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

Key Figures

Shares awarded: 38 shares Award price per share: $0.00 per share Holdings after transaction: 32,277 shares

3 metrics

Shares awarded 38 shares Grant of Class A Common Stock on dividend equivalents

Award price per share $0.00 per share Grant or award acquisition with no cash consideration

Holdings after transaction 32,277 shares Total direct Class A holdings including restricted stock units

Key Terms

restricted stock units, dividend equivalent rights, Class A Common Stock, Form 4

4 terms

restricted stock units financial

"Includes 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.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

06/04/2026 - 05:00 PM

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^*

Dopfner Mathias

(Last)

(First)

(Middle)

C/O WARNER MUSIC GROUP CORP.

1633 BROADWAY

(Street)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	06/02/2026		A		38⁽¹⁾	A	$0	32,277⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Warner Music Group (WMG) report for Mathias Dopfner?

Mathias Dopfner received an award of 38 shares of Warner Music Group Class A Common Stock. The shares were granted at no cost as dividend equivalents on existing restricted stock units, modestly increasing his overall equity stake in the company.

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

After the reported grant, Mathias Dopfner directly holds 32,277 shares of Warner Music Group Class A Common Stock. This total includes shares underlying restricted stock units, reflecting both previously held equity and the new dividend-equivalent award reported in this Form 4.

Did Mathias Dopfner buy or sell Warner Music Group (WMG) shares in this filing?

In this filing, Mathias Dopfner did not buy or sell shares on the open market. He acquired 38 shares as a grant classified as a dividend-equivalent award on restricted stock units, so no cash purchase or sale transaction occurred in this Form 4 event.

Is the Mathias Dopfner Form 4 transaction at Warner Music Group (WMG) a routine equity award?

Yes, the transaction is characterized as a grant or award acquisition associated with dividend equivalent rights on restricted stock units. Such awards are typically part of routine director or executive compensation structures, rather than discretionary open-market stock purchases or sales.