0001127602-17-006872.txt : 20170217
0001127602-17-006872.hdr.sgml : 20170217
20170217151809
ACCESSION NUMBER: 0001127602-17-006872
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20170215
FILED AS OF DATE: 20170217
DATE AS OF CHANGE: 20170217
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: TIME WARNER INC.
CENTRAL INDEX KEY: 0001105705
STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841]
IRS NUMBER: 134099534
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: ONE TIME WARNER CENTER
CITY: NEW YORK
STATE: NY
ZIP: 10019
BUSINESS PHONE: 2124848000
MAIL ADDRESS:
STREET 1: ONE TIME WARNER CENTER
CITY: NEW YORK
STATE: NY
ZIP: 10019
FORMER COMPANY:
FORMER CONFORMED NAME: TIME WARNER INC
DATE OF NAME CHANGE: 20031015
FORMER COMPANY:
FORMER CONFORMED NAME: AOL TIME WARNER INC
DATE OF NAME CHANGE: 20000208
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: OLAFSSON OLAF
CENTRAL INDEX KEY: 0001217404
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-15062
FILM NUMBER: 17621127
MAIL ADDRESS:
STREET 1: C/O TIME WARNER INC.
STREET 2: ONE TIME WARNER CENTER
CITY: NEW YORK
STATE: NY
ZIP: 10019
4
1
form4.xml
PRIMARY DOCUMENT
X0306
4
2017-02-15
0001105705
TIME WARNER INC.
TWX
0001217404
OLAFSSON OLAF
ONE TIME WARNER CENTER
NEW YORK
NY
10019-8016
1
Executive Vice President
Common Stock, Par Value $.01
2017-02-15
4
M
0
14274
0
A
37091
D
Common Stock, Par Value $.01
2017-02-15
4
F
0
7967
96.32
D
29124
D
Common Stock, Par Value $.01
2017-02-15
4
M
0
4434
0
A
33558
D
Common Stock, Par Value $.01
2017-02-15
4
F
0
2475
96.32
D
31083
D
Common Stock, Par Value $.01
2017-02-15
4
M
0
1817
0
A
32900
D
Common Stock, Par Value $.01
2017-02-15
4
F
0
1014
96.32
D
31886
D
Common Stock, Par Value $.01
2017-02-15
4
M
0
1460
0
A
33346
D
Common Stock, Par Value $.01
2017-02-15
4
F
0
814
96.32
D
32532
D
Common Stock, Par Value $.01
2017-02-15
4
M
0
1967
0
A
34499
D
Common Stock, Par Value $.01
2017-02-15
4
F
0
1097
96.32
D
33402
D
Performance Stock Units
2017-02-15
4
M
0
14274
0
D
2017-02-15
2017-02-15
Common Stock, Par Value $.01
14274
0
D
Restricted Stock Units
2017-02-15
4
M
0
4434
0
D
Common Stock, Par Value $.01
4434
48166
D
Restricted Stock Units
2017-02-15
4
M
0
1817
0
D
Common Stock, Par Value $.01
1817
46349
D
Restricted Stock Units
2017-02-15
4
M
0
1460
0
D
Common Stock, Par Value $.01
1460
44889
D
Restricted Stock Units
2017-02-15
4
M
0
1967
0
D
Common Stock, Par Value $.01
1967
42922
D
On February 15, 2014, the Reporting Person was awarded 7,166 target performance stock units (as adjusted for the spin-off of Time Inc.) with a three-year performance period ending December 31, 2016. As previously reported on a Form 4 (filed with the SEC on January 27, 2017), on January 26, 2017, the Compensation and Human Development Committee approved a payout of 199.2% of the target PSUs under the performance standards set in 2014, based on (i) the Issuer's cumulative Adjusted EPS achieved during the performance period, which resulted in an Adjusted EPS factor of 166%, and (ii) its total stockholder return for the performance period compared to other companies in the S&P 500, which resulted in a TSR modifier of 120%. The PSU payout factor is determined by multiplying the Adjusted EPS factor and the TSR modifier. On February 15, 2017, the Reporting Person acquired 14,274 shares of common stock upon the vesting of the performance stock units.
Each performance stock unit or restricted stock unit represents a contingent right to receive one share of common stock. The Reporting Person received one share of common stock for each performance stock unit or restricted stock unit that vested.
Payment of tax liability by withholding shares of common stock incident to the vesting of performance stock units or restricted stock units in accordance with Rule 16b-3 of the Securities Exchange Act of 1934.
Shares of common stock acquired upon the vesting of restricted stock units awarded on February 15, 2013, February 15, 2014, February 15, 2015 and February 15, 2016.
These restricted stock units vest in two equal installments on the third and fourth anniversaries of their date of grant, February 15, 2013.
These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2014.
These restricted stock units vest in four equal installments on the first four anniversaries of the date of grant, February 15, 2015.
These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2016.
These restricted stock units include (i) restricted stock units that vest in four equal installments on the first four anniversaries of the following dates of grant: February 15, 2014, February 15, 2015 and February 15, 2016; (ii) restricted stock units that are scheduled to vest in four equal installments on each anniversary of February 15, 2017; and (iii) restricted stock units that are scheduled to vest in four equal installments on each anniversary of February 15, 2018.
By: Brenda C. Karickhoff for Olaf Olafsson
2017-02-17