secwatch.observer — SEC 8-K summary
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Issuer:     Warner Music Group Corp. (WMG)
CIK:        0001319161
Form:       8-K
Filed at:   2022-09-23T23:59:59+00:00
Accession:  0001193125-22-250270
Event type: leadership
Sentiment:  positive
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Warner Music names YouTube exec Robert Kyncl as CEO effective Jan 1, 2023; Cooper to retire Jan 31
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- Robert Kyncl, YouTube's Chief Business Officer, named WMG CEO effective Jan 1, 2023; will join board Feb 1.
- Stephen Cooper to retire Jan 31, 2023; Kyncl and Cooper will serve as Co-CEOs in January 2023 for transition.
- Kyncl compensation: $2M base salary, $3M target cash bonus, $10M annual PSUs, and $10M one-time option award in Jan 2024.
- Severance: $15M payment if terminated without cause or for good reason; full vesting of equity upon change in control within one year.
- Cooper retirement benefits: continued $3M salary through FY2023, two $7M RSU grants, and target $7M bonus for FY2022 & FY2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1319161/000119312522250270/0001193125-22-250270-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1319161/000119312522250270/d326061d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-250270

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