Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses WMG in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named WMG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Robert Kyncl | $2,000,000 | $3,202,480 | $10,675,719 | $0 | $0 | $0 | $31,051 | $15,909,250 |
| Chief Executive Officer | ||||||||
| Armin Zerza | 484,615 | 1,847,648 | 10,000,010 | 0 | 0 | 0 | 8,308 | 12,340,581 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Guy Moot | 2,187,500 | 2,287,500 | 1,510,705 | 0 | 0 | 0 | 18,216 | 6,003,921 |
| Co-Chair and Chief Executive Officer, Warner Chappell Music | ||||||||
| Carianne Marshall | 1,562,500 | 2,287,500 | 1,510,705 | 0 | 0 | 0 | 11,750 | 5,372,455 |
| Co-Chair and Chief Operating Officer, Warner Chappell Music | ||||||||
| Carletta Higginson | 1,137,500 | 1,982,399 | 1,655,196 | 0 | 0 | 0 | 7,875 | 4,782,970 |
| Executive Vice President and Chief Digital Officer | ||||||||
| Bryan Castellani | 1,100,000 | 1,119,243 | 2,384,104 | 0 | 0 | 0 | 93,466 | 4,696,813 |
| Former Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Robert Kyncl | $15,909,250 | $18,632,606 | $20,426,385 | −2,723,356 |
| Armin Zerza | 12,340,581 | — | — | — |
| Guy Moot | 6,003,921 | 6,118,839 | 4,922,006 | −114,918 |
| Carianne Marshall | 5,372,455 | 5,492,073 | 4,409,709 | −119,618 |
| Carletta Higginson | 4,782,970 | — | — | — |
| Bryan Castellani | 4,696,813 | 5,893,705 | — | −1,196,892 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Hannah Jasmine Karp | EVP, Chief Comm. Officer | 2026-02-12 | A | 19,225 | $0 | $0 | Common | Form 4 ↗ |
| Noreena Hertz | Director | 2026-03-04 | A | 6,186 | 0 | 0 | Common | Form 4 ↗ |
| Ynon Kreiz | Director | 2026-03-04 | A | 6,186 | 0 | 0 | Common | Form 4 ↗ |
| Ceci Kurzman | Director | 2026-03-04 | A | 6,186 | 0 | 0 | Common | Form 4 ↗ |
| Michael Lynton | Director | 2026-03-04 | A | 9,014 | 0 | 0 | Common | Form 4 ↗ |
| Noreena Hertz | Director | 2026-03-04 | D | 1,629 | 28 | 46,084 | Common | Form 4 ↗ |
| Mathias Dopfner | Director | 2026-03-04 | A | 6,186 | 0 | 0 | Common | Form 4 ↗ |
| Mathias Dopfner | Director | 2026-03-04 | D | 1,629 | 28 | 46,084 | Common | Form 4 ↗ |
| Nancy Dubuc | Director | 2026-03-04 | A | 6,186 | 0 | 0 | Common | Form 4 ↗ |
| AI Entertainment Holdings LLC | Greater-than-10% holder | 2026-04-16 | D | 280,000 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Valentin Blavatnik | Director | 2026-04-16 | A | 280,000 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Armin Zerza | COO & CFO | 2026-05-12 | D | 27,064 | 34 | 909,350 | Common | Form 4 ↗ |
| Armin Zerza | COO & CFO | 2026-05-12 | A | 209,132 | 0 | 0 | Common | Form 4 ↗ |
| Armin Zerza | COO & CFO | 2026-05-21 | D | 27,521 | 0 | 0 | Common | Form 4 ↗ |
| Nancy Dubuc | Director | 2026-06-02 | A | 38 | 0 | 0 | Common | Form 4 ↗ |
| Noreena Hertz | Director | 2026-06-02 | A | 38 | 0 | 0 | Common | Form 4 ↗ |
| Mathias Dopfner | Director | 2026-06-02 | A | 38 | 0 | 0 | Common | Form 4 ↗ |
| Ceci Kurzman | Director | 2026-06-02 | A | 38 | 0 | 0 | Common | Form 4 ↗ |
| Ynon Kreiz | Director | 2026-06-02 | A | 38 | 0 | 0 | Common | Form 4 ↗ |
| Michael Lynton | Director | 2026-06-02 | A | 56 | 0 | 0 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Bryan Castellani | RSU | 2025-01-04 | — | — | 76,857 | — | $2,384,104 |
| Armin Zerza | RSU | 2025-05-12 | — | — | 218,341 | — | 6,000,010 |
| Carianne Marshall | RSU | 2025-01-04 | — | — | 48,701 | — | 1,510,705 |
| Robert Kyncl | RSU | 2025-01-04 | — | — | 344,156 | — | 10,675,719 |
| Carletta Higginson | RSU | 2025-01-04 | — | — | 53,359 | — | 1,655,196 |
| Armin Zerza | OPTION | 2025-05-12 | — | — | 471,698 | — | 4,000,000 |
| Guy Moot | RSU | 2025-01-04 | — | — | 48,701 | — | 1,510,705 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Bryan Castellani | $2,384,104 | $0 | $0 | 0.0% |
| Armin Zerza | 6,000,010 | 0 | 4,000,000 | 0.0% |
| Carianne Marshall | 1,510,705 | 0 | 0 | 0.0% |
| Robert Kyncl | 10,675,719 | 0 | 0 | 0.0% |
| Carletta Higginson | 1,655,196 | 0 | 0 | 0.0% |
| Guy Moot | 1,510,705 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Carletta Higginson | RSU | 53,359 | — | $1,817,408 |
| Guy Moot | RSU | 34,970 | — | 1,191,078 |
| Carianne Marshall | RSU | 34,970 | — | 1,191,078 |
| Bryan Castellani | RSU | 76,857 | — | 2,617,749 |
| Carletta Higginson | RSU | 34,970 | — | 1,191,078 |
| Bryan Castellani | RSU | 33,411 | — | 1,137,979 |
| Carianne Marshall | RSU | 48,701 | — | 1,658,756 |
| Carianne Marshall | RSU | 21,834 | — | 743,666 |
| Guy Moot | RSU | 11,843 | — | 403,373 |
| Robert Kyncl | PSU | 155,424 | — | 5,293,752 |
| Guy Moot | RSU | 48,701 | — | 1,658,756 |
| Carianne Marshall | RSU | 11,843 | — | 403,373 |
| Guy Moot | RSU | 21,834 | — | 743,666 |
| Robert Kyncl | RSU | 344,156 | — | 11,721,953 |
| Armin Zerza | RSU | 218,341 | — | 7,436,694 |
| Bryan Castellani | RSU | 51,290 | — | 1,746,937 |
| Armin Zerza | Option | 471,698 | 27.48 | — |
We design our executive compensation programs to attract talented executives to join the Company and to motivate them to position us for long-term success, achieve superior operating results and increase stockholder value
| CEO STI target (% of salary) | 150% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2024 | 2024-03-05 | 7,617,925,252 | 23,598,744 | 4,058,142 | 99.69% | Passed |
| 2021 | 2021-03-02 | 8,131,475,684 | 2,024,353 | 1,179,820 | 99.98% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2024 | 2024-03-05 | 99.69%a |
| 2021 | 2021-03-02 | 99.98%b |
a. Approved under the standard stated in the filing — “Effect of Abstentions: No effect.”.
b. Approved under the standard stated in the filing — “Effect of Abstentions: No effect.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 191 : 1 |
|---|---|
| CEO total compensation | $15,909,250 |
| Median employee compensation | $83,212 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Michael LyntonNot independent · Board Chair · Executive (Chair) · Finance | $165,000 | $260,617 | $0 | $0 | $0 | $425,617 |
| Nancy DubucIndependent · Audit (Chair) · Executive | 120,000 | 178,874 | 0 | 0 | 0 | 298,874 |
| Ceci KurzmanIndependent · Audit · Compensation · Nominating and Corporate Governance | 110,000 | 178,874 | 0 | 0 | 0 | 288,874 |
| Ynon KreizIndependent · Nominating and Corporate Governance | 110,000 | 178,874 | 0 | 0 | 0 | 288,874 |
| Noreena HertzIndependent · Audit · Nominating and Corporate Governance | 110,000 | 178,874 | 0 | 0 | 0 | 288,874 |
| Mathias DöpfnerIndependent · Compensation | 105,000 | 178,874 | 0 | 0 | 0 | 283,874 |
| Robert KynclEmployee director · Finance | 0 | 0 | 0 | 0 | 0 | 0 |
| Lincoln BenetIndependent · Compensation (Chair) · Executive · Nominating and Corporate Governance (Chair) | 0 | 0 | 0 | 0 | 0 | 0 |
| Valentin BlavatnikNot independent · Compensation · Executive | 0 | 0 | 0 | 0 | 0 | 0 |
| Donald A. WagnerIndependent · Executive · Finance (Chair) · Nominating and Corporate Governance | 0 | 0 | 0 | 0 | 0 | 0 |
| Len BlavatnikNot independent · Executive | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $175,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | $400,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $720,000 |
| Equity awards (grant-date value) | $1,154,987 |
| All other compensation | $0 |
| Total cost of the board | $1,874,987 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Warner Music Group | 2025 | Robert Kyncl | $2,000,000 | $10,675,719 | $0 | $0 | $15,909,250 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Robert Kyncl | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Summary Compensation Table”. As printed: 15,909,250. Filing ↗machine: r2 · c24 · span 494670–494681 |
| 2 | Section 01, Armin Zerza | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Summary Compensation Table”. As printed: 12,340,581. Filing ↗machine: r5 · c24 · span 507676–507687 |
| 3 | Section 01, Guy Moot | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Summary Compensation Table”. As printed: 6,003,921. Filing ↗machine: r12 · c24 · span 540982–540991 |
| 4 | Section 01, Carianne Marshall | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Summary Compensation Table”. As printed: 5,372,455. Filing ↗machine: r9 · c24 · span 527216–527225 |
| 5 | Section 01, Carletta Higginson | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Summary Compensation Table”. As printed: 4,782,970. Filing ↗machine: r8 · c24 · span 521664–521673 |
| 6 | Section 01, Bryan Castellani | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Summary Compensation Table”. As printed: 4,696,813. Filing ↗machine: r6 · c24 · span 512904–512913 |
| 7 | Section 03, Bryan Castellani RSU | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t83 · r6 · c21 · span 586295–586304 |
| 8 | Section 03, Armin Zerza RSU | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t83 · r3 · c21 · span 574125–574134 |
| 9 | Section 03, Carianne Marshall RSU | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t83 · r8 · c21 · span 594372–594381 |
| 10 | Section 03, Robert Kyncl RSU | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t83 · r2 · c21 · span 570432–570442 |
| 11 | Section 03, Carletta Higginson RSU | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t83 · r7 · c21 · span 590037–590046 |
| 12 | Section 03, Armin Zerza OPTION | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t83 · r4 · c21 · span 578278–578287 |
| 13 | Section 03, Guy Moot RSU | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t75 · r7 · c6 · span 448905–448914 |
| 14 | Section 07, pay ratio | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “CEO Pay Ratio”. As printed: 191 : 1. Filing ↗ |
| 15 | Section 08, Michael Lynton | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 425,617. Filing ↗machine: t118 · r2 · c21 · span 894949–894956 |
| 16 | Section 08, Nancy Dubuc | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 298,874. Filing ↗machine: t118 · r8 · c21 · span 918642–918649 |
| 17 | Section 08, Ceci Kurzman | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 288,874. Filing ↗machine: t119 · r3 · c21 · span 938993–939000 |
| 18 | Section 08, Ynon Kreiz | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 288,874. Filing ↗machine: t119 · r2 · c21 · span 935376–935383 |
| 19 | Section 08, Noreena Hertz | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 288,874. Filing ↗machine: t118 · r7 · c21 · span 914630–914637 |
| 20 | Section 08, Mathias Döpfner | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 283,874. Filing ↗machine: t118 · r6 · c21 · span 910975–910982 |
| 21 | Section 08, Robert Kyncl | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 22 | Section 08, Lincoln Benet | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t118 · r3 · c21 · span 898601–898603 |
| 23 | Section 08, Valentin Blavatnik | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t118 · r5 · c21 · span 906676–906678 |
| 24 | Section 08, Donald A. Wagner | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t119 · r4 · c21 · span 943051–943053 |
| 25 | Section 08, Len Blavatnik | DEF 14A | 2026-01-20 | 0001140361-26-001664 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t118 · r4 · c21 · span 902933–902935 |
| 26 | Section 02, Hannah Jasmine Karp 2026-02-12 | Form 4 | 2026-02-13 | 0001193125-26-051978 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Noreena Hertz 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097041 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Ynon Kreiz 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097031 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Ceci Kurzman 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097029 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Michael Lynton 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097039 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Noreena Hertz 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097041 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Mathias Dopfner 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097040 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Mathias Dopfner 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097040 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Nancy Dubuc 2026-03-04 | Form 4 | 2026-03-06 | 0001193125-26-097037 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, AI Entertainment Holdings LLC 2026-04-16 | Form 4 | 2026-04-20 | 0001193125-26-164378 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Valentin Blavatnik 2026-04-16 | Form 4 | 2026-04-20 | 0001193125-26-164223 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Armin Zerza 2026-05-12 | Form 4 | 2026-05-18 | 0001193125-26-229111 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Armin Zerza 2026-05-12 | Form 4 | 2026-05-18 | 0001193125-26-229111 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Armin Zerza 2026-05-21 | Form 4 | 2026-05-26 | 0001193125-26-239584 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Nancy Dubuc 2026-06-02 | Form 4 | 2026-06-04 | 0001193125-26-257676 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Noreena Hertz 2026-06-02 | Form 4 | 2026-06-04 | 0001193125-26-257681 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Mathias Dopfner 2026-06-02 | Form 4 | 2026-06-04 | 0001193125-26-257677 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, Ceci Kurzman 2026-06-02 | Form 4 | 2026-06-04 | 0001193125-26-257678 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Ynon Kreiz 2026-06-02 | Form 4 | 2026-06-04 | 0001193125-26-257682 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 02, Michael Lynton 2026-06-02 | Form 4 | 2026-06-04 | 0001193125-26-257679 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 46 | Section 06, 2024 vote | Form 8-K | 2024-03-08 | 0001193125-24-062816 | Item 5.07 · say-on-pay result. As reported: 99.69% (votes for as printed: 7,617,925,252). Filing ↗ |
| 47 | Section 06, 2021 vote | Form 8-K | 2021-03-03 | 0001193125-21-066638 | Item 5.07 · say-on-pay result. As reported: 99.98%. Filing ↗ |
| 48 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 49 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 50 | Section 09b board cost (computed) | Computed | — | computed | Cash 720,000 + equity 1,154,987 + all other 0 = 1,874,987, summed across the director compensation table rows.machine: formula: Σ = 1,874,987 |
| 51 | Warner Music Group (subject), Section 10b CEO total | DEF 14A | 2026-01-20 | 0001140361-26-001664 | CEO total compensation as printed in Warner Music Group's own proxy. As printed: 15,909,250. Filing ↗machine: r2 · c24 · span 494670–494681 |