This excerpt taken from the WMG DEF 14A filed Jan 17, 2006.
In connection with the Companys initial public offering, the Company declared a dividend of $8.5 million related to the remaining liquidation preference of its Class L common stock, which was paid in May 2005. The Class L Common Stock was then converted to Class A Common Stock, which was renamed common stock in connection with the initial public offering. The Company also declared a dividend of $100.5 million to its common stockholders immediately prior to the initial public offering, substantially all of which was paid in May 2005. Of the total dividend amount, approximately $7 million related to holders of unvested shares of restricted stock. Of such amount, approximately $1 million was paid in May 2005 and the remaining $6 million will be paid when, and if, such restricted shares vest.