Hertz Noreena 4

What Happened
Hertz Noreena, a director of Warner Music Group (WMG), received an award of 6,186 shares (code A) on 2026-03-04 at $0.00 per share (restricted shares/RSUs). On the same date she had 1,629 shares withheld (code F) at $28.29 per share to satisfy tax withholding obligations, a withholding value of $46,084. Using the $28.29 price, the full 6,186-share award implies an approximate market value of ~$175,000 at that price.

Key Details

• Transaction dates: 2026-03-04 (award and tax withholding); Form 4 filed 2026-03-06 (timely filing).
• Awards: 6,186 restricted shares/RSUs granted (reported as $0.00 acquisition price).
• Withholding: 1,629 shares withheld to cover taxes at $28.29/share, total $46,084.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: Includes restricted shares and RSUs, and 140 previously unreported shares earned as dividends on RSUs granted March 4, 2025.
  • F2: The 1,629-share disposition reflects withholding of shares to satisfy tax obligations upon vesting (not a market sale).

Context
This was an award/vesting event (not an open-market purchase or voluntary sale). The withheld shares were used to cover tax liabilities — a common, routine outcome when restricted shares or RSUs vest. Such withholding transactions generally do not signal an insider's view on the stock.