AIBFF, Inc. 4

What Happened

• AI Entertainment Holdings LLC, listed as a 10% owner of Warner Music Group (WMG), recorded a disposition of 280,000 shares of Class B common stock on April 16, 2026. The transaction is reported as a derivative "other acquisition or disposition" (code J) and no price or total dollar value is shown on the Form 4.
• Footnote disclosure indicates the 280,000 Class B shares were distributed for no consideration by the LB 2020 Family Trust to VLB Holdings LLC (see F5). Class B shares are convertible at the holder’s option into Class A common stock and have no expiration (see F1).

Key Details

• Transaction date: April 16, 2026; Form filed April 20, 2026.
• Transaction type: Derivative disposition (code J); price: N/A; total value: N/A.
• Shares changed: 280,000 Class B shares disposed/transferred.
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes: distribution by LB 2020 Family Trust to VLB Holdings LLC (F5); multiple filings note these securities are held through related entities controlled by Access Industries / Mr. Len Blavatnik (F2–F4, F6). Several entities disclaim beneficial ownership except for pecuniary interest.
• Timeliness: Form was filed four days after the reported transaction (filed 4/20/2026 for a 4/16/2026 transaction).

Context

• This appears to be an intra-group distribution/transfer rather than an open-market sale, so it may reflect estate or entity-level reorganization rather than a direct market-based sale by a single executive. As a 10% owner entity (institutional/related-party reporting), these moves document ownership shifts across affiliated entities rather than an individual trading on private information.