X0306 4 2016-02-15 0001105705 TIME WARNER INC. TWX 0001595087 Averill Howard M ONE TIME WARNER CENTER NEW YORK NY 10019 1 EVP & Chief Financial Officer Common Stock, Par Value $.01 2016-02-15 4 M 0 4694 0 A 33503 D Common Stock, Par Value $.01 2016-02-15 4 F 0 2420 62.26 D 31083 D Common Stock, Par Value $.01 2016-02-15 4 M 0 4799 0 A 35882 D Common Stock, Par Value $.01 2016-02-15 4 F 0 2474 62.26 D 33408 D Common Stock, Par Value $.01 2016-02-15 4 M 0 4891 0 A 38299 D Common Stock, Par Value $.01 2016-02-15 4 F 0 2522 62.26 D 35777 D Restricted Stock Units 2016-02-15 4 M 0 4694 0 D Common Stock, Par Value $.01 4694 33872 D Restricted Stock Units 2016-02-15 4 M 0 4799 0 D Common Stock, Par Value $.01 4799 29073 D Restricted Stock Units 2016-02-15 4 M 0 4891 0 D Common Stock, Par Value $.01 4891 24182 D Employee Stock Option (Right to Buy) 62.26 2016-02-15 4 A 0 113115 0 A 2026-02-14 Common Stock, Par Value $.01 113115 113115 D Shares of common stock acquired upon the vesting of restricted stock units awarded on February 15, 2012, February 15, 2014 and February 15, 2015. Each 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 restricted stock unit that vested. Payment of tax liability by withholding shares of common stock incident to the vesting of restricted stock units in accordance with Rule 16b-3. These restricted stock units vest in two equal installments on the third and fourth anniversaries of the date of grant, February 15, 2012. These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2014. These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2015. These restricted stock units include restricted stock units that vest in four equal installments on the first four anniversaries of the following dates of grant: February 15, 2014 and February 15, 2015. This option becomes exercisable in increments of 25% on the first four anniversaries of the date of grant, February 15, 2016. By: Brenda C. Karickhoff for Howard M. Averill 2016-02-17