4//SEC Filing
BEWKES JEFFREY L 4
Accession 0001127602-18-007092
CIK 0001105705other
Filed
Feb 19, 7:00 PM ET
Accepted
Feb 20, 3:26 PM ET
Size
16.3 KB
Accession
0001127602-18-007092
Insider Transaction Report
Form 4
BEWKES JEFFREY L
DirectorChairman of the Board and CEO
Transactions
- Exercise/Conversion
Common Stock, Par Value $.01
2018-02-15+160,776→ 834,799 total - Exercise/Conversion
Common Stock, Par Value $.01
2018-02-15+41,528→ 798,441 total - Tax Payment
Common Stock, Par Value $.01
2018-02-15$94.99/sh−20,117$1,910,914→ 778,324 total - Exercise/Conversion
Performance Stock Units
2018-02-15−160,776→ 0 totalFrom: 2018-02-15Exp: 2018-02-15→ Common Stock, Par Value $.01 (160,776 underlying) - Tax Payment
Common Stock, Par Value $.01
2018-02-15$94.99/sh−77,886$7,398,391→ 756,913 total - Exercise/Conversion
Restricted Stock Units
2018-02-15−41,528→ 290,698 total→ Common Stock, Par Value $.01 (41,528 underlying)
Holdings
- 40,001(indirect: By Savings Plan)
Common Stock, Par Value $.01
Footnotes (7)
- [F1]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. On February 15, 2018, the Reporting Person acquired 160,776 shares of common stock upon the vesting of the performance stock units.
- [F2]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.
- [F3]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.
- [F4]Shares of common stock acquired upon the vesting of restricted stock units awarded on February 15, 2017.
- [F5]The Time Warner Savings Plan, a qualified employee benefit plan (the "Savings Plan"). Includes shares of common stock acquired through the reinvestment of dividends paid on the common stock held by the Savings Plan.
- [F6]These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2017.
- [F7]These restricted stock units include (i) 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.
Documents
Issuer
TIME WARNER INC.
CIK 0001105705
Entity typeother
Related Parties
1- filerCIK 0001237443
Filing Metadata
- Form type
- 4
- Filed
- Feb 19, 7:00 PM ET
- Accepted
- Feb 20, 3:26 PM ET
- Size
- 16.3 KB