4//SEC Filing
Lousada Max 4
Accession 0001209191-20-042064
CIK 0001319161other
Filed
Jul 8, 8:00 PM ET
Accepted
Jul 9, 8:01 PM ET
Size
7.5 KB
Accession
0001209191-20-042064
Insider Transaction Report
Form 4
Lousada Max
DirectorCEO, Recorded Music
Transactions
- Disposition to Issuer
Class A Common Stock
2020-07-07$25.00/sh−53,855$1,346,375→ 2,133,784 total(indirect: By LLC)
Holdings
- 2,057,572
Class A Common Stock
Footnotes (4)
- [F1]Shares of the Issuer's Class A Common Stock represented by 2,133,784 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 2,133,784 less a number of shares of Class B Common Stock having a value equal to $6,802,981 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.
- [F2]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.
- [F3]Represents shares of the Issuer's Class A Common Stock sold pursuant to the redemption of 61,727 Class B Units of Management LLC, after taking into account a number of shares of Class B Common Stock having a value equal to $196,800 on the date of such redemption, which is the sum of the benchmark amounts of the Class B Units redeemed.
- [F4]Represents vested Deferred Equity Units issued under the Second Amended and Restated Warner Music Group Corp. Senior Management Free Cash Flow Plan (the "Plan"). Following the closing of the Issuer's IPO, pursuant to the terms of the Plan, these Deferred Equity Units will be settled for shares of the Issuer's Class A Common Stock on a one-for-one basis by no later than December 31, 2025. Upon such settlement, the corresponding Deferred Equity Units will be cancelled.
Documents
Issuer
Warner Music Group Corp.
CIK 0001319161
Entity typeother
Related Parties
1- filerCIK 0001807479
Filing Metadata
- Form type
- 4
- Filed
- Jul 8, 8:00 PM ET
- Accepted
- Jul 9, 8:01 PM ET
- Size
- 7.5 KB