Warner Music Group Corp. — Director's Dealing 2011

Jul 22, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Warner Music Group Corp. (WMG)
CIK: 0001319161
Period of Report: 2011-07-20

Reporting Person: Strang Cameron (CEO, Warner Chappell)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-20	Stock Option (Right to Buy)	$5.19	D	400000	Disposed		Common Stock, par value $0.001 (400000)	Direct

Footnotes

F1: Disposition in connection with the merger (the "Merger") of Airplanes Merger Sub, Inc. with and into Warner Music Group Corp., exempt pursuant to Rule 16-3, in which all options were cancelled in exchange for a cash payment equal to the excess, if any, of $8.25 over the exercise price.

F2: All options became vested and were cancelled upon consummation of the Merger.