14 unchanged sentences
Because of these inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected even when effective Disclosure Controls and Internal Controls are in place.
+Added: The Company previously started a multi-year implementation to upgrade our information technology and finance infrastructure, including related systems and processes.
+Added: The upgrades are designed to enhance our financial records and the flow of financial information, improve data analysis and accelerate our financial reporting.
+Added: The deployment of our new technology platform is currently being implemented using a wave-based approach.
+Added: We have launched certain components onto our new technology platform in select territories and will continue to deploy the technology platform to additional territories over time.
+Added: As the wave-based implementation of our new technology platform continues, we will change our processes and procedures which, in turn, could result in changes to our internal control over financial reporting.
+Added: As such changes occur, we will evaluate whether such changes materially affect our internal control over financial reporting.
Evaluation of Disclosure Controls and Procedures
−Removed: Based on management’s evaluation (with the participation of the Company’s principal executive officer and principal financial officer), as of the end of the period covered by this report, the Company’s principal executive officer and principal financial officer have concluded that the Company’s Disclosure Controls are effective to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act will be recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, including that such information is accumulated and communicated to management, including the principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
+Added: Based on management’s evaluation (with the participation of the Company’s principal executive officer and principal financial officer), as of the end of the period covered by this report, the Company’s principal executive officer and principal financial officer have concluded that the Company’s Disclosure Controls are effective to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act will be recorded, processed, summarized and
+Added: reported within the time periods specified in SEC rules and forms, including that such information is accumulated and communicated to management, including the principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
Changes in Internal Control over Financial Reporting
−Removed: There have been no changes in our internal control over financial reporting or other factors that occurred during the fourth fiscal quarter of the fiscal year ended September 30, 2023 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
+Added: There have been no changes in our internal control over financial reporting that occurred during the fourth fiscal quarter of the fiscal year ended September 30, 2024 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
Management’s Report on Internal Control Over Financial Reporting
39 unchanged sentences
3.1(1) Fourth Amended and Restated Certificate of Incorporation of Warner Music Group Corp.
−Removed: F ifth Amended and Restated By-Laws of Warner Music Group Corp.
+Added: Fifth Amended and Restated By-Laws of Warner Music Group Corp.
4.1(2) Form of Common Stock Certificate
25 unchanged sentences
Indemnification Agreement between Warner Music Group Corp.
−Removed: and Stephen Cooper (and Schedule to Exhibit 10.4).
+Added: and Michael Lynton (and Schedule to Exhibit ).
10.5(2) Credit Agreement, dated as of November 1, 2012, among WMG Acquisition Corp., each lender from time to time party thereto, Credit Suisse AG, as administrative agent, Credit Suisse Securities (USA) LLC, Barclays Bank PLC, UBS Securities LLC, Macquarie Capital (USA) Inc.
20 unchanged sentences
and Eric Levin
−Removed: 10.21†(2) Letter Agreement, dated as of August 4, 2015, between Warner Music Inc.
Letter Agreement, dated May 2, 2018, between Warner Music Inc.
and Eric Levin
−Removed: 10.23†(2) Letter Agreement, dated May 2, 2018, between Warner Music Inc.
Letter Agreement, dated as of January 8, 2019, between Warner Chappell Music, Inc.
42 unchanged sentences
and Michael Lynton (and Schedule to Exhibit 10.3)
−Removed: Exhibit Description
Form of Award Agreement under Warner Music Group Corp.
2020 Omnibus Incentive Plan
+Added: Exhibit Description
Service Agreement, dated January 12, 2023, between Max Lousada and Warner Music International Services Limited
−Removed: 10.55† (11) Employment Separation Agreement and Release, dated January 17, 2023, between Stephen Cooper and Warner Music Group Corp.
Mutual Separation Agreement and Release, dated May 4, 2023, between Warner Music Inc.
5 unchanged sentences
and Carianne Marshall
+Added: Revolving Credit Agreement Amendment, dated as of November 30, 2023, by and among Acquisition Corp., the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent
+Added: Form of Award Agreement under Warner Music Group Corp.
+Added: 2020 Omnibus Incentive Plan
+Added: Thirteenth Amendment, dated as of December 29, 2023, by and among the Borrower, the other Loan Parties party thereto, the Lenders party thereto, the Administrative Agent and the other parties thereto
+Added: Eighth Incremental Commitment Amendment to Credit Agreement, dated as of January 24, 2024, among WMG Acquisition Corp., the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent, relating to the term loan credit agreement
+Added: Ninth Incremental Commitment Amendment to Credit Agreement, dated as of September 17, 2024, among WMG Acquisition Corp., the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent, relating to the term loan credit agreement
+Added: Revolving Credit Agreement Amendment, dated as of September 20 , 202 4 , among WMG Acquisition Corp., the several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent
+Added: Settlement Agreement, dated August 23 , 202 4 , between Warner Music International Services Limited and Max Lousada
+Added: Early Redem ption Agreement, dated August 23, 202 4 , between Warner Music Group and Max Lousada
+Added: I nsider Trading Policy
21.1* List of Subsidiaries of Warner Music Group Corp.
7 unchanged sentences
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
+Added: D odd-F rank Cl awback Policy
101.INS Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
28 unchanged sentences
(18) Incorporated by reference to Warner Music Group Corp.’s Annual Report on Form 10-K for the period ended September 30, 2022 (File No.
+Added: (19) Incorporated by reference to Warner Music Group Corp.’s Annual Report on Form 10-K for the period ended September 30, 2023 (File No.
+Added: (20) Incorporated by reference to Warner Music Group Corp.’s Current Report on Form 8-K filed November 30, 2023.
+Added: (21) Incorporated by reference to Warner Music Group Corp.’s Quarterly Report on Form 10-Q for the period ended December 31, 2023 (File No.
+Added: (22) Incorporated by reference to Warner Music Group Corp.’s Current Report on Form 8-K filed January 24, 2024.
+Added: (23) Incorporated by reference to Warner Music Group Corp.’s Current Report on Form 8-K filed September 17, 2024.
FORM 10-K SUMMARY
39 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.