ZERZA ARMIN 4

What Happened

• Armin Zerza, Warner Music Group’s Chief Operating Officer and Chief Financial Officer, was granted 209,132 restricted stock units (RSUs) on 2026-05-12 under the company’s long-term incentive plan.
• To satisfy tax withholding obligations related to the award, 27,064 shares were surrendered/withheld at an effective price of $33.60 per share, totaling about $909,350. The grant is an award (A) and the withholding is reported as code F (payment of tax liability).

Key Details

• Transaction date: 2026-05-12; Form 4 filed: 2026-05-18 (late filing due to administrative error).
• Grant: 209,132 RSUs (A); Withholding/disposition: 27,064 shares at $33.60 each, $909,350 (F).
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1/F3 note the RSU grant and the withholding/disposition were not reported within two business days due to an administrative error. F2 confirms the holdings include RSUs.
• Timeliness: Filing was late (administrative error); late Form 4s reduce short-term transparency but do not change the underlying economic event.

Context

• This was a standard equity compensation grant (RSUs) and a routine share withholding to cover taxes—common practice and not a market sale indicating sentiment. The transaction is an award-plus-tax-withholding, not an open-market purchase or sale for investment purposes.