Almost three years after he first took the reins as CEO, Robert Kyncl has signed a new deal at Warner Music Group.
Details were revealed in a document filed today (December 1) with the U.S. Securities & Exchange Commission (SEC).
According to the SEC filing, Kyncl and Warner agreed on an amendment to Kyncl’s employment package on Monday last week (November 24).
The new package is tied to company performance and, in particular, returns to WMG shareholders. It sees Kyncl receive a grant of stock options worth USD $10 million, split into three equal tranches.
Each of these tranches only becomes exercisable if Warner’s stock exceeds a price level equivalent to a total shareholder return of 8%, 10%, or 12%, respectively, for at least 20 consecutive trading days within the next three years.
The amendment also introduces a new $5 million annual PSU (performance stock unit) grant starting January 2026, vesting after three years based on financial targets.
Kyncl’s severance terms have also changed. Under the new deal, his severance (without “cause”) will equal one year’s total target compensation plus 12 months of health coverage, plus a pro-rata annual bonus for the year of termination.
“All other terms of Mr. Kyncl’s employment remain unchanged from their previously disclosed terms,” said Warner’s SEC filing.
During Kyncl’s tenure thus far, the company’s annual revenue has risen from USD $5.92 billion in fiscal 2022 to USD $6.71 billion in fiscal year 2025.
Warner’s latest quarterly earnings showed an 8.4% YoY increase in the key metric of recorded music subscription streaming revenues (at constant currency, omitting the impact of BMG‘s deal termination).
Speaking to investors following the announcement of those quarterly earnings (Warner’s Q4, calendar Q3), Kyncl struck an upbeat tone, saying “these results prove that our strategy is working”.
There’s no question it’s been a busy year for Kyncl and his management team.
Since July, WMG has also been preoccupied with a $300 million restructure, while Kyncl has led the company through its first big AI deals, and a raft of leadership changes, including a new Chief Technology Officer.
On a call with investors on November 20, Kyncl said: “We’ve taken major steps to optimize our organization to drive efficiency and effectiveness, all while re-accelerating growth and gaining market share.”
He pointed to two metrics specifically related to market share: “[In] the U.S., we’re up 0.6 percentage points over the prior-year quarter, according to Luminate. Globally, our share of the Spotify Top 200 has jumped by around 6 percentage points vs. fiscal 2024.”
Kyncl praised Warner Chappell, Atlantic, and Warner Records for being “hotter than ever” while hailing success “across geographies and genres”.
He told investors, “I’m truly grateful to our leadership team, our operators across the globe, and our amazing artists and songwriters for pushing WMG to new heights.”Music Business Worldwide
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