ZERZA ARMIN 4

What Happened
Armin Zerza, Warner Music Group's Chief Operating Officer and Chief Financial Officer, reported a gift transfer of 27,521 shares of WMG common stock on 2026-05-21. The shares were transferred for no consideration (reported price $0.00). The filing indicates the transfer was to the "Zerza Community Property Trust dtd 05/10/2022," for which Zerza is trustee and remains the beneficial owner of the securities held by the trust.

Key Details

• Transaction date: 2026-05-21; Form 4 filed: 2026-05-26 (filed on the next business day after the Memorial Day holiday).
• Transaction type: G = Gift; shares transferred: 27,521; price/consideration: $0.00.
• Shares owned after transaction: The filing notes Zerza remains the beneficial owner of trust-held shares; the exact post-transaction beneficial ownership total is not specified in the provided summary.
• Footnotes: F1 — transfer to Zerza Community Property Trust where Zerza is trustee and remains beneficial owner; F2 — ownership totals may include restricted stock units.
• Timeliness: Filing date aligns with the SEC two-business-day rule given the Memorial Day holiday, so it appears timely.

Context
Gifts to family trusts or community property trusts are commonly used for personal or estate-planning reasons and do not necessarily signal a change in the insider's view of the company. Because Zerza remains the trustee and beneficial owner of the transferred shares, this transaction likely reflects a change in legal ownership/placement rather than a market-driven sale.