8-K 1 g23498e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): May 21, 2010
TIME WARNER INC.
(Exact Name of Registrant as Specified in its Charter)
         
Delaware   1-15062   13-4099534
         
(State or Other Jurisdiction of
Incorporation) 		  (Commission File Number)   (IRS Employer
Identification No.)
One Time Warner Center, New York, New York 10019
(Address of Principal Executive Offices) (Zip Code)
212-484-8000
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 21, 2010, the stockholders of Time Warner Inc. (the “Company”) approved the Time Warner Inc. 2010 Stock Incentive Plan (the “2010 Plan”) at the 2010 Annual Meeting of Stockholders (the “2010 Annual Meeting”). The Company’s Board of Directors had approved the 2010 Plan on March 25, 2010, subject to stockholder approval. The 2010 Plan includes an authorization to issue up to 70 million shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), pursuant to awards under the 2010 Plan. The 2010 Plan provides for the issuance of various types of stock-based awards to the Company’s directors, employees and advisors in the United States and foreign jurisdictions. As of the date hereof, there have been no awards under the 2010 Plan and, therefore, no amounts are payable under the 2010 Plan to the principal executive officer, principal financial officer or any named executive officer.
A description of the 2010 Plan is set forth in the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on April 5, 2010 (the “2010 Proxy Statement”) under the caption “Company Proposals — Proposal Three: Approval of the Time Warner Inc. 2010 Stock Incentive Plan — Description of the 2010 Plan.” The description of the 2010 Plan is qualified in its entirety by reference to the full text of the 2010 Plan, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and which also was included as Annex A to the 2010 Proxy Statement.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
At the 2010 Annual Meeting, the Company’s stockholders approved an amendment to the By-laws of the Company to change the percentage of the Company’s outstanding shares of Common Stock required to request that the Board of Directors call a special meeting of stockholders from 25% to 15%. The amendment to the By-laws is described in the 2010 Proxy Statement under the caption “Company Proposals — Proposal Four: Approval of an Amendment to the Company’s By-laws to Provide that Holders of at Least 15% of the Combined Voting Power of the Company’s Outstanding Capital Stock May Request a Special Meeting of Stockholders,” which is incorporated herein by reference. The amendment to the By-laws became effective on May 21, 2010. The By-laws, as amended, are filed as Exhibit 3.1 to this Current Report on Form 8-K.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The final results of voting on each of the matters submitted to a vote of security holders at the Company’s 2010 Annual Meeting on May 21, 2010 are as follows.
                         
                        Broker
            For   Against   Abstentions   Non-Votes
  1.    
Election of Directors:
                
       
James L. Barksdale
   893,228,155   16,872,018   716,772   81,035,698
       
William P. Barr
   886,733,144   23,316,874   766,927   81,035,698
       
Jeffrey L. Bewkes
   879,809,364   30,304,468   703,113   81,035,698
       
Stephen F. Bollenbach
   886,097,774   23,970,804   748,367   81,035,698
       
Frank J. Caufield
   881,833,853   28,082,095   900,997   81,035,698
       
Robert C. Clark
   842,705,827   67,339,890   771,228   81,035,698
       
Mathias Döpfner
   849,158,177   60,838,954   819,814   81,035,698
       
Jessica P. Einhorn
   894,714,131   15,381,280   721,534   81,035,698
       
Fred Hassan
   895,012,411   14,985,838   818,696   81,035,698
       
Michael A. Miles
   811,139,410   98,769,586   907,949   81,035,698
       
Kenneth J. Novack
   827,895,129   82,183,341   738,475   81,035,698
       
Deborah C. Wright
   849,572,239   60,507,737   736,969   81,035,698
       
 
                
       
Under the Company’s By-laws, each of the directors was elected, having received “for” votes from a majority of the votes duly cast by the holders of Common Stock with respect to each director.
                

 

 

                         
            For   Against   Abstentions    
       
 
                
  2.    
Ratification of Ernst & Young LLP as independent auditors
   980,915,970   10,111,251     825,422                        
       
 
                
       
The selection of Ernst & Young LLP was ratified, having received “for” votes from a majority of the votes duly cast by the holders of Common Stock.
                
                         
                        Broker
            For   Against   Abstentions   Non-Votes
       
 
                
  3.    
Approval of the Time Warner Inc. 2010 Stock Incentive Plan
   682,369,163   226,902,087   1,545,695   81,035,698
       
 
                
       
Under the Company’s By-laws, the adoption of the plan was approved, having received “for” votes from a majority of the votes duly cast by the holders of Common Stock.
                
                         
            For   Against   Abstentions    
       
 
                
  4.    
Approval of an amendment to the Company’s By-laws to provide that holders of at least 15% of the combined voting power of the Company’s outstanding capital stock may request a special meeting of stockholders.
   944,304,826   45,898,554     1,649,263                     
       
 
                
       
Under the Company’s By-laws, the amendment was approved, having received “for” votes from a majority of the outstanding shares of Common Stock.
                
                         
                        Broker
            For   Against   Abstentions   Non-Votes
       
 
                
  5.    
Stockholder proposal regarding simple majority vote.
   638,071,878   270,679,803   2,065,264   81,035,698
       
 
                
       
Under the Company’s By-laws, the proposal passed, having received “for” votes from a majority of the votes duly cast by the holders of Common Stock.
                

 

 

                         
                        Broker
            For   Against   Abstentions   Non-Votes
       
 
                
  6.    
Stockholder proposal regarding equity retention policy.
   212,040,441   694,546,283   4,230,221     81,035,698
       
 
                
       
Under the Company’s By-laws, the proposal failed, having received “for” votes from less than a majority of the votes duly cast by the holders of Common Stock.
                
                         
                        Broker
            For   Against   Abstentions   Non-Votes
       
 
                
  7.    
Stockholder proposal regarding advisory vote on executive compensation.
   408,751,703   477,446,793   24,618,449   81,035,698
       
 
                
       
Under the Company’s By-laws, the proposal failed, having received “for” votes from less than a majority of the votes duly cast by the holders of Common Stock.
                
Item 9.01 Financial Statements and Exhibits.
     
Exhibit   Description
 
    
3.1
  By-laws of the Company, as amended through May 21, 2010.
 
    
10.1
  Time Warner Inc. 2010 Stock Incentive Plan.

 

 

SIGNATURE
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  TIME WARNER INC.
 		  
  By:   /s/  Pascal Desroches  
    Name:   Pascal Desroches   
    Title:   Senior Vice President and Controller   
 
Date: May 27, 2010

 

 

EXHIBIT INDEX
     
Exhibit   Description
 
3.1
  By-laws of the Company, as amended through May 21, 2010.
 
    
10.1
  Time Warner Inc. 2010 Stock Incentive Plan.