CompBrief BY VELARION

Companies Warner Music Group Corp.

Warner Music (WMG): executive pay, fiscal 2025

Free brief. Every figure links to the company’s own filing.

Velarion Intel: free for 3 days, no card →

Email me Warner Music Group Corp.’s executive pay brief as a PDF

You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.

After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.

Also free: The Pay Desk, the weekly executive pay briefing.
CEO total pay$15,909,250CEO Robert Kyncl · source
Say-on-pay support99.69%Latest vote · source
CEO vs. named peers17th pct.Against its disclosed peer group
CEO pay ratio191:1To the median employee · source

CEO pay, last three years

  • $20,426,385FY2023
  • $18,632,606FY2024
  • $15,909,250FY2025

CEO total pay was $15,909,250 in fiscal 2025, down from $18,632,606 in fiscal 2024.

FY2025: salary $2,000,000 · bonus $3,202,480 · stock awards $10,675,719 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Warner Music Group Corp. in fiscal 2025?
As disclosed, Robert Kyncl (Chief Executive Officer) was the highest-paid executive at Warner Music Group Corp. in fiscal 2025, with total compensation of $15,909,250.
How does Warner Music Group Corp.'s chief executive pay compare to its disclosed peer group?
As disclosed, Robert Kyncl's total compensation ranked at the 17th percentile of Warner Music Group Corp.'s disclosed peer group.
What is Warner Music Group Corp.'s CEO-to-median employee pay ratio?
As disclosed, Warner Music Group Corp.'s CEO-to-median employee pay ratio was 191:1.
How did shareholders vote on Warner Music Group Corp.'s executive compensation?
As disclosed, 99.69% of shareholders supported Warner Music Group Corp.'s executive compensation in the latest say-on-pay vote.
How much does Warner Music Group Corp. spend in total on board compensation for fiscal 2025?
As disclosed, Warner Music Group Corp. reported total board compensation of $1,874,987 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Robert Kyncl$2,000,000$3,202,480$10,675,719$0$0$0$31,051$15,909,250
Chief Executive Officer
Armin Zerza484,6151,847,64810,000,0100008,30812,340,581
Executive Vice President and Chief Financial Officer
Guy Moot2,187,5002,287,5001,510,70500018,2166,003,921
Co-Chair and Chief Executive Officer, Warner Chappell Music
Carianne Marshall1,562,5002,287,5001,510,70500011,7505,372,455
Co-Chair and Chief Operating Officer, Warner Chappell Music
Carletta Higginson1,137,5001,982,3991,655,1960007,8754,782,970
Executive Vice President and Chief Digital Officer
Bryan Castellani1,100,0001,119,2432,384,10400093,4664,696,813
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Robert Kyncl$15,909,250$18,632,606$20,426,385↓ −2,723,356
Armin Zerza12,340,581———
Guy Moot6,003,9216,118,8394,922,006↓ −114,918
Carianne Marshall5,372,4555,492,0734,409,709↓ −119,618
Carletta Higginson4,782,970———
Bryan Castellani4,696,8135,893,705—↓ −1,196,892

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

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 consultantFrederic W. Cook & Co.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Carianne MarshallRSU2025-01-04——48,701—$1,510,705
Armin ZerzaRSU2025-05-12——218,341—6,000,010
Bryan CastellaniRSU2025-01-04——76,857—2,384,104
Robert KynclRSU2025-01-04——344,156—10,675,719
Carletta HigginsonRSU2025-01-04——53,359—1,655,196
Guy MootRSU2025-01-04——48,701—1,510,705
Armin ZerzaOPTION2025-05-12——471,698—4,000,000

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Carianne Marshall$1,510,705$0$00.0%
Armin Zerza6,000,01004,000,0000.0%
Bryan Castellani2,384,104000.0%
Robert Kyncl10,675,719000.0%
Carletta Higginson1,655,196000.0%
Guy Moot1,510,705000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Carianne MarshallRSU11,843—$403,373
Guy MootRSU11,843—403,373
Carianne MarshallRSU21,834—743,666
Guy MootRSU21,834—743,666
Bryan CastellaniRSU33,411—1,137,979
Carletta HigginsonRSU34,970—1,191,078
Carianne MarshallRSU34,970—1,191,078
Guy MootRSU34,970—1,191,078
Carianne MarshallRSU48,701—1,658,756
Guy MootRSU48,701—1,658,756
Bryan CastellaniRSU51,290—1,746,937
Carletta HigginsonRSU53,359—1,817,408
Bryan CastellaniRSU76,857—2,617,749
Robert KynclPSU155,424—5,293,752
Armin ZerzaRSU218,341—7,436,694
Robert KynclRSU344,156—11,721,953
Armin ZerzaOption471,69827.48—
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Michael LyntonNot independent · Board Chair · Executive (Chair) · Finance$165,000$260,617$0$0$0$425,617
Nancy DubucIndependent · Audit (Chair) · Executive120,000178,874000298,874
Noreena HertzIndependent · Audit · Nominating and Corporate Governance110,000178,874000288,874
Ynon KreizIndependent · Nominating and Corporate Governance110,000178,874000288,874
Ceci KurzmanIndependent · Audit · Compensation · Nominating and Corporate Governance110,000178,874000288,874
Mathias DöpfnerIndependent · Compensation105,000178,874000283,874
Len BlavatnikNot independent · Executive000000
Donald A. WagnerIndependent · Executive · Finance (Chair) · Nominating and Corporate Governance000000
Lincoln BenetIndependent · Compensation (Chair) · Executive · Nominating and Corporate Governance (Chair)000000
Robert KynclEmployee director · Finance000000
Valentin BlavatnikNot independent · Compensation · Executive000000

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$175,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)15,000 / 15,000 / 15,000
Stock ownership guideline$4

Total cost of the board

ComponentFY2025
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.

Peer group, and who names Warner Music as a peer

Companies that benchmark against WMG

7 companies name WMG as a compensation peer

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.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Warner Music Group Corp.2025Robert 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.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-03-057,617,925,25223,598,7444,058,14299.69%Passed
20212021-03-028,131,475,6842,024,3531,179,82099.98%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.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20242024-03-0599.69%a
20212021-03-0299.98%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.

CEO pay ratio

Ratio (CEO : median employee)191 : 1
CEO total compensation$15,909,250
Median employee compensation$83,212
Insider trades since the proxy

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Hannah Jasmine KarpEVP, Chief Comm. Officer2026-02-12A19,225$0$0CommonForm 4 ↗
Ceci KurzmanDirector2026-03-04A6,18600CommonForm 4 ↗
Nancy DubucDirector2026-03-04A6,18600CommonForm 4 ↗
Ynon KreizDirector2026-03-04A6,18600CommonForm 4 ↗
Mathias DopfnerDirector2026-03-04D1,6292846,084CommonForm 4 ↗
Noreena HertzDirector2026-03-04D1,6292846,084CommonForm 4 ↗
Michael LyntonDirector2026-03-04A9,01400CommonForm 4 ↗
Mathias DopfnerDirector2026-03-04A6,18600CommonForm 4 ↗
Noreena HertzDirector2026-03-04A6,18600CommonForm 4 ↗
Valentin BlavatnikDirector2026-04-16A280,000——Derivative, Class A CommonForm 4 ↗
AI Entertainment Holdings LLCGreater-than-10% holder2026-04-16D280,000——Derivative, Class A CommonForm 4 ↗
Armin ZerzaCOO & CFO2026-05-12D27,06434909,350CommonForm 4 ↗
Armin ZerzaCOO & CFO2026-05-12A209,13200CommonForm 4 ↗
Armin ZerzaCOO & CFO2026-05-21D27,52100CommonForm 4 ↗
Ceci KurzmanDirector2026-06-02A3800CommonForm 4 ↗
Mathias DopfnerDirector2026-06-02A3800CommonForm 4 ↗
Noreena HertzDirector2026-06-02A3800CommonForm 4 ↗
Ynon KreizDirector2026-06-02A3800CommonForm 4 ↗
Michael LyntonDirector2026-06-02A5600CommonForm 4 ↗
Nancy DubucDirector2026-06-02A3800CommonForm 4 ↗
Noreena HertzDirector2026-09-01A4500CommonForm 4 ↗
Michael LyntonDirector2026-09-01A12200CommonForm 4 ↗
Ceci KurzmanDirector2026-09-01A8400CommonForm 4 ↗
Mathias DopfnerDirector2026-09-01A4500CommonForm 4 ↗
Ynon KreizDirector2026-09-01A4500CommonForm 4 ↗
Nancy DubucDirector2026-09-01A4500CommonForm 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.

Sources (57 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Robert Kyncl. DEF 14A, filed 2026-01-20. Section “Summary Compensation Table” · page 28. As printed: 15,909,250. View filing ↗
  • Section 01, Armin Zerza. DEF 14A, filed 2026-01-20. Section “Summary Compensation Table”. As printed: 12,340,581. View filing ↗
  • Section 01, Guy Moot. DEF 14A, filed 2026-01-20. Section “Summary Compensation Table”. As printed: 6,003,921. View filing ↗
  • Section 01, Carianne Marshall. DEF 14A, filed 2026-01-20. Section “Summary Compensation Table”. As printed: 5,372,455. View filing ↗
  • Section 01, Carletta Higginson. DEF 14A, filed 2026-01-20. Section “Summary Compensation Table”. As printed: 4,782,970. View filing ↗
  • Section 01, Bryan Castellani. DEF 14A, filed 2026-01-20. Section “Summary Compensation Table”. As printed: 4,696,813. View filing ↗
  • Section 03, Carianne Marshall RSU. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Armin Zerza RSU. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Bryan Castellani RSU. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Robert Kyncl RSU. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Carletta Higginson RSU. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Guy Moot RSU. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Armin Zerza OPTION. DEF 14A, filed 2026-01-20. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-01-20. Section “CEO Pay Ratio”. As printed: 191 : 1. View filing ↗
  • Section 08, Michael Lynton. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 425,617. View filing ↗
  • Section 08, Nancy Dubuc. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 298,874. View filing ↗
  • Section 08, Noreena Hertz. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 288,874. View filing ↗
  • Section 08, Ynon Kreiz. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 288,874. View filing ↗
  • Section 08, Ceci Kurzman. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 288,874. View filing ↗
  • Section 08, Mathias Döpfner. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 283,874. View filing ↗
  • Section 08, Len Blavatnik. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Donald A. Wagner. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Lincoln Benet. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Robert Kyncl. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Valentin Blavatnik. DEF 14A, filed 2026-01-20. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, Hannah Jasmine Karp 2026-02-12. Form 4, filed 2026-02-13. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ceci Kurzman 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Nancy Dubuc 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ynon Kreiz 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Mathias Dopfner 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Noreena Hertz 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael Lynton 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Mathias Dopfner 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Noreena Hertz 2026-03-04. Form 4, filed 2026-03-06. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Valentin Blavatnik 2026-04-16. Form 4, filed 2026-04-20. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, AI Entertainment Holdings LLC 2026-04-16. Form 4, filed 2026-04-20. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Armin Zerza 2026-05-12. Form 4, filed 2026-05-18. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Armin Zerza 2026-05-12. Form 4, filed 2026-05-18. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Armin Zerza 2026-05-21. Form 4, filed 2026-05-26. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ceci Kurzman 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Mathias Dopfner 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Noreena Hertz 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ynon Kreiz 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael Lynton 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Nancy Dubuc 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Noreena Hertz 2026-09-01. Form 4, filed 2026-09-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michael Lynton 2026-09-01. Form 4, filed 2026-09-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ceci Kurzman 2026-09-01. Form 4, filed 2026-09-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Mathias Dopfner 2026-09-01. Form 4, filed 2026-09-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Ynon Kreiz 2026-09-01. Form 4, filed 2026-09-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Nancy Dubuc 2026-09-01. Form 4, filed 2026-09-03. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-03-08. Item 5.07 · say-on-pay result. As reported: 99.69% (votes for as printed: 7,617,925,252). View filing ↗
  • Section 06, 2021 vote. Form 8-K, filed 2021-03-03. Item 5.07 · say-on-pay result. As reported: 99.98%. View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 720,000 + equity 1,154,987 + all other 0 = 1,874,987, summed across the director compensation table rows.
  • Warner Music Group Corp. (subject), Section 10b CEO total. DEF 14A, filed 2026-01-20. CEO total compensation as printed in Warner Music Group Corp.'s own proxy. As printed: 15,909,250. View filing ↗
Get the full report — $500