Warner Music director awarded 84 dividend shares

Rhea-AI Filing Summary

Warner Music Group Corp. (WMG) reported that director Cecelia Kurzman acquired 84 shares of Class A common stock on September 1, 2026 through a grant classified as a "grant, award, or other acquisition." These shares reflect dividend equivalent rights accrued on outstanding deferred share units, and her directly held position, including deferred share units, increased to 34,338 shares. No Rule 10b5-1 trading plan is reported in connection with this transaction.

Insider Trade Summary

Grant/Award: 84 shares

Grant/Award 1 txn

Insider Kurzman Cecelia

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1, F2	84	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 34,338 shares (Direct)

Footnotes (2)

1. F1. Reflects dividend equivalent rights accrued on outstanding deferred share units.
2. F2. Includes deferred share units.

Key Figures

Shares acquired: 84 shares Price per share for grant: $0.00 per share Direct holdings after transaction: 34,338 shares +1 more

4 metrics

Shares acquired 84 shares Grant/award acquisition on September 1, 2026 reflecting dividend equivalent rights

Price per share for grant $0.00 per share Reported price for the 84-share grant classified as a grant, award, or other acquisition

Direct holdings after transaction 34,338 shares Class A common stock directly held by Cecelia Kurzman after the September 1, 2026 grant, including deferred share units

Number of acquisition transactions 1 transaction One non-derivative grant/award acquisition reported in this Form 4

Key Terms

dividend equivalent rights, deferred share units, grant, award, or other acquisition

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

"Reflects dividend equivalent rights accrued on outstanding 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.

grant, award, or other acquisition financial

"Transaction classified as a grant, award, or other acquisition of shares."

FAQ

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

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

Warner Music Group reported that director Cecelia Kurzman acquired 84 shares of Class A common stock on September 1, 2026 via a grant categorized as a grant, award, or other acquisition.

How many Warner Music Group (WMG) shares does Cecelia Kurzman hold after this transaction?

After the September 1, 2026 grant, Cecelia Kurzman directly holds 34,338 shares of Warner Music Group Class A common stock, which the filing states includes deferred share units.

What is the nature of the 84 Warner Music Group (WMG) shares acquired by Cecelia Kurzman?

The 84 shares reflect dividend equivalent rights accrued on outstanding deferred share units, meaning they were issued as additional share-based compensation rather than purchased in the market.

Was Cecelia Kurzman’s Warner Music Group (WMG) transaction under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is unchecked, indicating that no Rule 10b5-1 trading plan is reported for this acquisition of 84 shares.

Did Cecelia Kurzman buy or sell Warner Music Group (WMG) shares for cash in this Form 4?

No cash purchase or sale is reported. The Form 4 shows a grant/award acquisition of 84 shares at a reported price of $0.00 per share, arising from dividend equivalent rights on deferred share units.

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

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

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)
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		84(1)	A	$0	34,338(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	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)