AI Entertainment Holdings LLC - 08 Dec 2021 Form 4 Insider Report for Warner Music Group Corp. (WMG)

Role
10%+ Owner
Signature
/s/ Alejandro Moreno for AI Entertainment Holdings LLC
Issuer symbol
WMG
Transactions as of
08 Dec 2021
Net transactions value
-$171,630,731
Form type
4
Filing time
10 Dec 2021, 18:01:30 UTC
Previous filing
28 Sep 2021
Next filing
07 Jan 2022
SEC
View on sec.gov

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 +2,553,394 $0.000000 2,553,394 08 Dec 2021 By LB Remainder Holdings LLC F1
transaction WMG Class A Common Stock Sale $105,327,502 -2,553,394 -100% $41.25 0 08 Dec 2021 By LB Remainder Holdings LLC F1
transaction WMG Class A Common Stock Conversion of derivative security $0 +479,800 $0.000000 479,800 08 Dec 2021 By LLC F2
transaction WMG Class A Common Stock Sale $19,791,750 -479,800 -100% $41.25 0 08 Dec 2021 By LLC F2
transaction WMG Class A Common Stock Conversion of derivative security $0 +1,110,170 $0.000000 1,110,170 08 Dec 2021 By LLC F3
transaction WMG Class A Common Stock Sale $45,794,512 -1,110,170 -100% $41.25 0 08 Dec 2021 By LLC F3
transaction WMG Class A Common Stock Conversion of derivative security $0 +17,381 $0.000000 17,381 08 Dec 2021 By partnership F4
transaction WMG Class A Common Stock Sale $716,966 -17,381 -100% $41.25 0 08 Dec 2021 By partnership F4

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 Gift $0 +4,890,786 $0.000000 4,890,786 08 Dec 2021 Class A Common Stock 4,890,786 By LB Remainder Holdings LLC F1, F5, F6
transaction WMG Class B Common Stock Conversion of derivative security -2,553,394 -52% 2,337,392 08 Dec 2021 Class A Common Stock 2,553,394 By LB Remainder Holdings LLC F1, F5
transaction WMG Class B Common Stock Conversion of derivative security -479,800 -100% 0 08 Dec 2021 Class A Common Stock 479,800 By LLC F2, F5
transaction WMG Class B Common Stock Conversion of derivative security -1,110,170 -37% 1,868,428 08 Dec 2021 Class A Common Stock 1,110,170 By LLC F3, F5
transaction WMG Class B Common Stock Conversion of derivative security -17,381 -1.1% 1,575,066 08 Dec 2021 Class A Common Stock 17,381 By partnership F4, F5
holding WMG Class B Common Stock 370,058,269 08 Dec 2021 Class A Common Stock 370,058,269 Direct F5, F7
* 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 LB Remainder Holdings LLC ("Remainder") and may be deemed to be beneficially owned by AIM and Mr. Blavatnik because AIM is the manager of Remainder and Mr. Blavatnik is the controlling person of AIM and is the sole member of Remainder. Each of the reporting persons (other than Remainder) 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.
F2 The securities reported are held directly by Access Industries, LLC ("AI") and may be deemed to be beneficially owned by AIM and Mr. Blavatnik, because AIM is the controlling entity of AI and Mr. Blavatnik is the controlling person of AIM and holder of a majority of the outstanding voting interests in AI. Each of the reporting persons (other than AI) 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.
F3 The securities reported are held directly by CT/FT Holdings LLC ("CT/FT") and may be deemed to be beneficially owned by AIM and Mr. Blavatnik, because AIM is the manager of CT/FT and Mr. Blavatnik is the controlling person of AIM. Each of the reporting persons (other than CT/FT) 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.
F4 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.
F5 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.
F6 The securities were distributed to Remainder in its capacity as a beneficiary in connection with the termination of a grantor retained annuity trust.
F7 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"), 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.