WMG Warner Music Group Corp. Insider Trading

CFO Armin Zerza bought 35,778 shares of WMG at $28.12 (Dec 11, 2025); stock down 23.4% from 52-week high, company reporting losses.

CFO Armin Zerza purchased 35,778 shares at $28.12, expanding his holdings by 16.4% to 254,119 shares total. The purchase occurred while WMG stock trades 23.4% below its 52-week high of $36.30 and has declined 17.3% over the past 90 days. The company reported a net loss of $16,000,000.00 in its latest quarter against revenue of $1,689,000,000.00, creating a context of near-term financial underperformance. The insider's discretionary acquisition during a period of depressed valuation and recent negative price momentum warrants attention to whether this reflects management's assessment of medium-term value, though the concurrent loss-making fundamentals introduce complexity around the underlying business trajectory.

Director Blavatnik Valentin purchases 35,810 WMG shares at $27.88, raising stake to 104,074 shares (+52.5%) despite stock down 23.2% from high.

Blavatnik Valentin, a Director, acquired 35,810 shares of Warner Music Group at $27.88 on 2025-12-02, increasing his holdings by 52.5% from 68,264 to 104,074 shares. The purchase occurred while the stock is down 23.2% from its 52-week high of $36.30 and down 8.1% over the prior 30 days. The company's fundamentals show net income of $-16.0M against quarterly revenue of $1.7B, with an unusual market cap figure of $29.8K that suggests a data anomaly. Notably, Blavatnik's single prior trade at WMG—a sell on 2025-02-20—achieved negative 90-day returns of -25.0%, demonstrating the insider's track record of well-timed exits at this ticker. The magnitude and percentage increase in his stake alongside depressed valuation context warrants observation of whether this accumulation represents a directional conviction shift.

Director Blavatnik sold 28,230 WMG shares at $35.45 for $1.0M, reducing stake 29.3% to 68,264 shares

Blavatnik reduced his Warner Music stake by 28,230 shares (29.3% of prior holdings) in a single transaction, bringing his post-transaction position to 68,264 shares. The sale at $35.45 occurred near the 52-week high of $36.30, with the stock currently at $35.26. The company is generating positive fundamentals with quarterly revenue of $1,666,000,000.00 and net income of $236,000,000.00, alongside 6.4% annual revenue growth. This substantial reduction in a director's stake—representing just under one-third of previous holdings—warrants attention to any regulatory filings or public disclosures that may clarify the transaction rationale.

Director Benet Lincoln E sold 35,000 shares of WMG at $30.96 on 2024-12-20; stock now $31.08, down 16.5% from 52-week high.

Benet Lincoln E (Director) executed an open-market sale of 35,000 shares at $30.96 on 2024-12-20, reducing his holdings by 12.6% from 277,360 to 242,360 shares for $1,083,600.00 total proceeds. His prior sell at WMG on 2024-02-15 posted a 90-day return of -9.7%, matching his cross-ticker track record average of -9.7%, and that prior trade was classified as well-timed (100.00% of his prior sells yielded negative 90-day returns). The stock has since traded down 2.4% in the 30 days following this sale and currently sits at $31.08, down 16.5% from its 52-week high of $37.23. Company fundamentals show recent quarterly revenue of $1,554,000,000.00 with net income of $139,000,000.00 and annual revenue growth of 6.4%, though the P/E ratio appears anomalous (0.00) and the reported market cap ($33,224.52) does not align with typical WMG valuation. The sale represents a discretionary reduction in a meaningful portion of his stake at a price within the recent trading range but below the 52-week high.

WMG CEO Lousada sells 250.8K shares at $28.09 on 2024-09-11; 5 prior consecutive WMG sales in same week show accelerated unloading; current price $29.02.

Lousada's sale of 250,769 shares for $7.0M represents an 11.0% reduction in his WMG holdings to 2.04M shares. This transaction is part of a notable pattern: 5 prior sales at WMG occurred on 2024-09-03, 2024-09-04, 2024-09-05, 2024-09-06, and 2024-09-10, all within the same calendar week. The rapid succession of seven total share dispositions within days suggests sustained liquidation rather than isolated rebalancing. His cross-ticker track record shows 6 prior sells with a 90-day well-timed rate of 0.00%, indicating his historical sales have not positioned ahead of subsequent declines. WMG trades 22.0% below its 52-week high of $37.23 despite a current market price of $29.02, reflecting a compressed valuation context into which these sales occurred.

WMG CEO Max Lousada sold 436,193 shares for $12.2M across two transactions (Sep 5-10, 2024) at blended average $28.00.

Max Lousada, CEO of Warner Music Group's Recorded Music division, executed two separate sales totaling 436,193 shares for $12,215,170.16 at a blended average price of $28.00 on September 5–10, 2024. The sales reduced his holdings from 2,725,964 shares to 2,289,771 shares, a -16.0% reduction in his stake. At the time of sale, the stock was trading near the blended price but has since declined 1.4% over 30 days and 8.7% over 90 days, and is currently 24.9% below its 52-week high of $37.23. His cross-ticker track record shows mixed timing outcomes (average 90-day return of +6.2% post-sale, 0.00% well-timed rate), though at WMG specifically, his most recent measurable sale (December 2023) showed a 90-day return of +6.2%, suggesting he did not capture recent subsequent gains at this ticker.

WMG CEO Max Lousada sold 247,505 shares ($7.0M) over 3 days at blended average $28.20

Max Lousada, CEO of Recorded Music at Warner Music Group, executed 3 separate sales totaling 247,505 shares for $6,979,264.97 between September 3–5, 2024, at prices ranging from $28.17 to $28.25 (blended average $28.20). The sales reduced his holdings from 2,973,469 shares to 2,725,964 shares, a net reduction of 8.3%. The stock currently trades at $28.17, down 24.3% from its 52-week high of $37.23, and his prior sell at WMG on 2023-12-05 returned 6.2% over 90 days—the stock rose after that sale, making it poorly timed. This filing does not carry any scheduled trading plan flag, so the timing pattern is material to interpretation. His cross-ticker track record shows only 1 prior sell with 0.00% well-timed rate (no negative 90-day returns), suggesting limited signal value from insider timing historically. The sale occurs as WMG trades near its post-transaction low, neither confirming nor contradicting a tactical view of valuation or near-term direction.