0001127602-18-002505.txt : 20180125
0001127602-18-002505.hdr.sgml : 20180125
20180125165403
ACCESSION NUMBER: 0001127602-18-002505
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180124
FILED AS OF DATE: 20180125
DATE AS OF CHANGE: 20180125
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: BEWKES JEFFREY L
CENTRAL INDEX KEY: 0001237443
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-15062
FILM NUMBER: 18548865
MAIL ADDRESS:
STREET 1: TIME WARNER INC.
STREET 2: ONE TIME WARNER CENTER
CITY: NEW YORK
STATE: NY
ZIP: 10019
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
4
1
form4.xml
PRIMARY DOCUMENT
X0306
4
2018-01-24
0001105705
TIME WARNER INC.
TWX
0001237443
BEWKES JEFFREY L
ONE TIME WARNER CENTER
NEW YORK
NY
10019
1
1
Chairman of the Board and CEO
Performance Stock Units
2018-01-24
4
A
0
160776
0
A
2018-02-15
2018-02-15
Common Stock, Par Value $.01
160776
160776
D
Restricted Stock Units
2018-01-24
4
A
0
332226
0
A
Common Stock, Par Value $.01
332226
332226
D
Each performance stock unit represents a contingent right to receive one share of common stock.
On February 15, 2015, the Reporting Person was awarded 90,324 target performance stock units with a three-year performance period ending December 31, 2017. On January 24, 2018, the Compensation and Human Development Committee approved a payout of 178% of the target PSUs under the performance standards set in 2015, based on (i) the Issuer's cumulative Adjusted EPS achieved during the performance period, which resulted in an Adjusted EPS factor of 200%, and (ii) its total stockholder return for the performance period compared to the other companies in the S&P 500, which resulted in a TSR modifier of 89%. The payout factor for the performance stock units is determined by multiplying the Adjusted EPS factor and the TSR modifier.
Each restricted stock unit represents a contingent right to receive one share of common stock.
This award of restricted stock units was made on February 15, 2017 as a special retention award in accordance with the Agreement and Plan of Merger, dated as of October 22, 2016, among Time Warner Inc., AT&T Inc. and West Merger Sub, Inc., as amended, with a value equal to approximately two times the Reporting Person's annual long-term incentive compensation, and subject to a performance condition, which the Compensation and Human Development Committee certified on January 24, 2018 had been satisfied. Half of this award is scheduled to vest in four equal installments on each of the first four anniversaries of February 15, 2017, and the remaining half is scheduled to vest in four equal installments on each of the first four anniversaries of February 15, 2018.
By: Brenda C. Karickhoff for Jeffrey L. Bewkes
2018-01-25