Warner Music amends CEO Kyncl's employment with performance-vested options and PSUs

Warner Music Group Corp.

CEO Kyncl receives $10M in options split into three tranches requiring 8%, 10%, and 12% total shareholder return hurdles.
Options have a 7-year term, VWAP-based exercise price, and vest equally over three years subject to performance conditions.
Annual PSU award of $5M target value starting Jan 2026, vesting on third anniversary based on financial and long-term goals.
Enhanced severance: cash equals total annual target cash and equity compensation plus COBRA costs with tax gross-up and pro-rata bonus if terminated without cause or for good reason.

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