Warner Music Group (WMG) director granted 38 Class A shares

Rhea-AI Filing Summary

Kurzman Cecelia reported acquisition or exercise transactions in this Form 4 filing.

Warner Music Group Corp. director Cecelia Kurzman received an award of 38 shares of Class A Common Stock at no cost. The award reflects dividend equivalent rights accrued on her outstanding deferred share units. Following this grant, she directly owns a total of 34,221 shares, including deferred share units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kurzman Cecelia

Role null

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

Holdings After Transaction: Class A Common Stock — 34,221 shares (Direct, null)

Footnotes (1)

1. Reflects dividend equivalent rights accrued on outstanding deferred share units. Includes deferred share units.

Key Figures

Share grant: 38 shares Grant price: $0.0000 per share Total holdings after transaction: 34,221 shares

3 metrics

Share grant 38 shares Class A Common Stock award on 2026-06-02

Grant price $0.0000 per share Reported transaction price for share award

Total holdings after transaction 34,221 shares Direct ownership including deferred share units

Key Terms

dividend equivalent rights, deferred share units, Class A Common Stock

3 terms

dividend equivalent rights financial

"Reflects dividend equivalent rights accrued on outstanding deferred share 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.

deferred share units financial

"Includes deferred share units."

Deferred share units are promises that give an executive or director the right to receive company shares or their cash value at a future date, often when they retire or leave the company. Think of them as a paycheck held in a savings account that converts into stock later; they matter to investors because they tie pay to long-term performance, create potential future dilution of shares, and represent a delayed cash or share obligation the company must eventually fulfill.

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.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Kurzman Cecelia

(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	34,221(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 deferred share units.

2. Includes deferred share 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)

FAQ

What insider transaction did Warner Music Group (WMG) report for Cecelia Kurzman?

Warner Music Group reported that director Cecelia Kurzman received 38 shares of Class A Common Stock as a grant. The award represents dividend equivalent rights on her outstanding deferred share units, rather than an open-market purchase or sale.

How many Warner Music Group shares does Cecelia Kurzman now hold after this Form 4?

After the reported grant, Cecelia Kurzman directly holds a total of 34,221 Warner Music Group Class A Common Stock shares. This total includes both regular shares and deferred share units credited to her as part of director compensation arrangements.

Was cash paid for the 38 Warner Music Group shares granted to Cecelia Kurzman?

No cash was paid for these shares; the transaction price per share was reported as 0.0000. The 38 shares represent dividend equivalent rights credited on existing deferred share units, not a cash purchase on the open market.

What does the Form 4 say about dividend equivalent rights for Warner Music Group directors?

The Form 4 notes that the 38-share award reflects dividend equivalent rights accrued on outstanding deferred share units. This means dividends on the underlying units are paid in equivalent share amounts rather than cash, increasing the director’s deferred share holdings.

Are deferred share units included in Cecelia Kurzman’s reported Warner Music Group holdings?

Yes. A footnote clarifies that Cecelia Kurzman’s total of 34,221 shares includes deferred share units. These units are part of her director compensation and are reported together with her other directly held Class A Common Stock shares.