MILES MICHAEL A 4
4 · TIME WARNER INC. · Filed Jan 26, 2011
Insider Transaction Report
Form 4
MILES MICHAEL A
Director
Transactions
- Other
Phantom Stock Units (pre-2001)
2011-01-25−5,550.989→ 0 total(indirect: By Deferred Compensation Plan)Exp: 2011-01-25→ Common Stock, Par Value $.01 (5,550.989 underlying)
Footnotes (1)
- [F1]As required by the terms of the Deferred Compensation Plan for Directors of Time Warner Inc. (a plan maintained by Historic TW Inc. prior to its merger with America Online, Inc. in 2001), a cash distribution was made to the Reporting Person based on the amounts deferred plus accrued interest at the seven-year treasury rate, compounded annually, because that amount was greater than the fair market value of the Common Stock underlying the phantom stock units credited to the Reporting Person's account. As a result of the distribution, the Reporting Person is no longer deemed to own phantom stock units. This transaction is exempt under Section 16(b).