X0303 4 2011-05-01 0001105705 TIME WARNER INC. TWX 0001204524 EINHORN JESSICA P ONE TIME WARNER CENTER NEW YORK NY 10019-8016 1 Common Stock, Par Value $.01 2011-05-01 4 M 0 4665.27 0 A 11007.27 D Common Stock, Par Value $.01 2011-05-01 4 S 0 1.27 37.85 D 11006 D Restricted Stock Units 2011-05-01 4 M 0 4665.27 0 D 2011-05-01 2011-05-01 Common Stock, Par Value $.01 4665.27 2282.602 D The common stock was acquired as a result of the vesting of restricted stock units awarded on May 18, 2007, May 16, 2008, May 29, 2009 and May 22, 2010. Each restricted stock unit represents a contingent right to receive one share of Common Stock. The Reporting Person receives one share of Common Stock for each restricted stock unit that vests. This transaction is exempt under Rule 16b-3 of the Securities Exchange Act of 1934. These awards of restricted stock units vest in annual installments of 25% beginning on May 1, 2009 through May 1, 2012 for restricted stock units granted on May 16, 2008, and May 1, 2010 through May 1, 2013 for restricted stock units granted on May 29, 2009. The vested shares of Common Stock will be issued to the Reporting Person upon vesting. By: Brenda C. Karickhoff for Jessica P. Einhorn 2011-05-03