X0306 4 2014-06-14 0001105705 TIME WARNER INC. TWX 0001185943 GUTIERREZ CARLOS M ONE TIME WARNER CENTER NEW YORK NY 10019 1 Director Stock Option (Right to Buy) 67.84 2014-06-14 4 A 0 2898 0 A 2015-06-14 2024-06-13 Common Stock, Par Value $.01 2898 2898 D Restricted Stock Units 2014-06-14 4 A 0 1474 0 A Common Stock, Par Value $.01 1474 2227 D 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 award of restricted stock units vests in full on June 1, 2015. The vested shares of Common Stock will be issued to the Reporting Person upon vesting. Includes previously granted restricted stock units that have been adjusted to reflect the separation of Time Inc. from Time Warner Inc. on June 6, 2014. Pursuant to the exemption under Rule 16a-9(a) of the Securities Exchange Act of 1934, the adjustment transaction is not required to be reported. These restricted stock units vest on October 1, 2014 (753) and June 1, 2015 (1,474). By: Robert Kane for Carlos M. Gutierrez 2014-06-17