Warner Music director receives 45-share stock award

A Warner Music Group director received 45 additional Class A shares tied to dividend equivalents on restricted stock units.

Rhea-AI Filing Summary

Warner Music Group Corp. (symbol: WMG) is the issuer of record for a Form 4 filing submitted to the SEC. Hertz Noreena reported acquisition or exercise transactions in this Form 4 filing.

Warner Music Group Corp. (WMG) reported that director Hertz Noreena received a grant of 45 shares of Class A Common Stock on September 1, 2026, at no cash cost, as dividend equivalent rights accrued on outstanding restricted stock units. After this award, Hertz Noreena directly holds a total of 30,693 shares, which include restricted stock units. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Grant/Award: 45 shares

Grant/Award 1 txn

Insider Hertz Noreena

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1, F2	45	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 30,693 shares (Direct)

Footnotes (2)

1. F1. Reflects dividend equivalent rights accrued on outstanding restricted stock units.
2. F2. Includes restricted stock units. The reporting person's

Key Figures

Shares granted: 45 shares Price per share: $0.00 per share Shares owned after transaction: 30,693 shares

3 metrics

Shares granted 45 shares Grant or award acquisition on September 1, 2026

Price per share $0.00 per share Reported for the 45-share grant on September 1, 2026

Shares owned after transaction 30,693 shares Total direct holdings of Hertz Noreena after the grant, including restricted stock units

Key Terms

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

3 terms

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.

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.

Class A Common Stock financial

"Security reported as Class A Common Stock acquired by the director."

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.

FAQ

What insider transaction did WMG disclose for Hertz Noreena?

WMG disclosed that director Hertz Noreena received a grant of 45 shares of Class A Common Stock on September 1, 2026, at a reported price of $0.00 per share, increasing her direct holdings to 30,693 shares including restricted stock units.

Was the recent WMG Form 4 transaction a market purchase or sale?

The WMG Form 4 reports a grant or award acquisition of 45 shares, not a market purchase or sale. The shares reflect dividend equivalent rights accrued on outstanding restricted stock units, and no open-market trading is indicated.

How many WMG shares does Hertz Noreena hold after the reported transaction?

After the reported award, Hertz Noreena directly holds 30,693 shares of Warner Music Group Class A Common Stock. This total includes restricted stock units, as noted in the filing footnotes.

What is the size of the WMG stock grant reported on this Form 4?

The Form 4 reports a grant of 45 shares of Warner Music Group Class A Common Stock to director Hertz Noreena. These shares arise from dividend equivalent rights tied to her outstanding restricted stock units.

Was the WMG insider transaction made under a Rule 10b5-1 trading plan?

No. The filing indicates that no Rule 10b5-1 plan is reported for this transaction. It is characterized as a grant or award acquisition of shares rather than trading under a pre-arranged plan.

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

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Available on EDGAR 09/03/2026 - 05:10 PM Accepted by SEC EDGAR 09/03/2026 - 05:00 PM 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^*

Hertz Noreena

(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)
09/01/2026

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	09/01/2026		A		45(1)	A	$0	30,693(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. The reporting person's

	/s/ Trent N. Tappe, as Attorney-In-Fact	09/03/2026
	** 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)