Form 4 for WMG Warner Music Group Corp.
Accepted 2021-10-01 00:00:00 ET · period of report 2021-09-29 · accession 0001209191-21-058571 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| I | 2021-10-01 | 2021-09-29 | WMG | Lousada Max | CEO, Recorded Music | S - Sale | $41.05 | -510.2K | 1.05M | -33% | -$20.94M |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2021-09-29 | S | D | 510,165 | $41.05 | 1,048,784 | I By LLC | — | — | (F1) Represents shares of the Issuer's Class A Common Stock sold pursuant to the redemption of 550,000 Class B Units of Management LLC, after taking into account a number of shares of Class B Common Stock having a value equal to $1,753,523 on the date of such redemption, which is the sum of the benchmark amounts of the Class B Units redeemed. (F2) Shares of the Issuer's Class A Common Stock represented by 1,048,784 Class B Units of WMG Management Holdings, LLC ("Management LLC") pursuant to the terms of, and subject to the limitations and restrictions set forth in, the Second Amended and Restated Limited Liability Company Agreement of Management LLC, as amended, these Class B Units are redeemable for a number of shares of the Issuer's Class B Common Stock equal to 1,048,784 less a number of shares of Class B Common Stock having a value equal to $3,343,758 on the date of such redemption (the "Benchmark Shares"), which is the sum of the benchmark amounts of the Class B Units. The reporting person expressly disclaims beneficial ownership of the Benchmark Shares. (F3) Any shares of the Issuer's Class B Common Stock issued to the reporting person upon a redemption of Class B Units will immediately and automatically convert to shares of the Issuer's Class A Common Stock on a one-for-one basis, and the corresponding Class B Units will be cancelled. |