MILES MICHAEL A 4
4 · TIME WARNER INC. · Filed Mar 16, 2012
Insider Transaction Report
Form 4
MILES MICHAEL A
Director
Transactions
- Award
Phantom Stock Units
2012-03-15$35.82/sh+34.603$1,239→ 4,801.828 total(indirect: By Deferred Compensation Plan)→ Common Stock, Par Value $.01 (34.603 underlying)
Footnotes (1)
- [F1]The phantom stock units were acquired by the Reporting Person under the Time Warner Inc. Non-Employee Directors' Deferred Compensation Plan (the "Deferred Compensation Plan") in connection with the Issuer's quarterly cash dividend payment on its Common Stock. This transaction is exempt under Section 16(b). Pursuant to the terms of the Deferred Compensation Plan, the phantom stock units are to be settled in cash in a lump sum or in annual installments beginning on the April 30th following the date the Reporting Person ceases to be a director. The cash value received by the Reporting Person upon distribution will be based, one-for-one, on the fair market value of the Common Stock underlying the phantom stock units held in the Reporting Person's account.