AI Entertainment Holdings LLC - Sep 8, 2021 Form 4 Insider Report for Warner Music Group Corp. (WMG)

Role: 10%+ Owner
Signature: /s/ Alejandro Moreno for AI Entertainment Holdings LLC
Stock symbol: WMG
Transactions as of: Sep 8, 2021
Transactions value $: -$118,922,768
Form type: 4
Date filed: 9/10/2021, 07:01 PM
Next filing: Sep 28, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WMG	Class A Common Stock	Conversion of derivative security	$0	+3.13M		$0.00	3.13M	Sep 8, 2021	Direct	F1
transaction	WMG	Class A Common Stock	Sale	-$118M	-3.13M	-100%	$37.75	0	Sep 8, 2021	Direct	F1
transaction	WMG	Class A Common Stock	Conversion of derivative security	$0	+16.4K		$0.00	16.4K	Sep 8, 2021	By partnership	F2
transaction	WMG	Class A Common Stock	Sale	-$618K	-16.4K	-100%	$37.75	0	Sep 8, 2021	By partnership	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WMG	Class B Common Stock	Conversion of derivative security		-3.13M	-0.83%		372M	Sep 8, 2021	Class A Common Stock	3.13M		Direct	F1, F3
transaction	WMG	Class B Common Stock	Conversion of derivative security		-16.4K	-1.01%		1.6M	Sep 8, 2021	Class A Common Stock	16.4K		By partnership	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The securities reported are held directly by AI Entertainment Holdings LLC ("AIEH") and may be deemed to be beneficially owned by AIPH Holdings LLC ("AIPH"), Access Industries Holdings LLC ("AIH"), Access Industries, LLC ("AI"), Access Industries Management, LLC ("AIM") and Mr. Blavatnik, because AIPH is the parent of AIEH, AIH controls a majority of the outstanding voting interests in AIPH, AI controls a majority of the outstanding voting interests in AIH, AIM controls AI and AIH and Mr. Blavatnik is the controlling person of AIM and controls a majority of the outstanding voting interests in AI. Each of the reporting persons (other than AIEH) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any of the securities reported on this Form.
F2	The securities reported are held directly by Altep 2012 L.P. ("Altep 2012") and may be deemed to be beneficially owned by AI Altep Holdings, Inc. and Mr. Blavatnik because AI Altep Holdings, Inc. is the general partner of Altep 2012 and Mr. Blavatnik controls AI Altep Holdings, Inc. Each of the reporting persons (other than Altep 2012) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities.
F3	Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.