X0306 4 2017-06-15 0001105705 TIME WARNER INC. TWX 0001110744 Hassan Fred ONE TIME WARNER CENTER NEW YORK NY 10019 1 Phantom Stock Units 2017-06-15 4 A 0 1109.9899 0 A Common Stock, Par Value $.01 1109.9899 1109.9899 I By Deferred Compensation Plan The phantom stock units were acquired by the Reporting Person in a transaction exempt under Section 16(b) pursuant to the terms of the Time Warner Inc. Non-Employee Directors' Deferred Compensation Plan (the "Deferred Compensation Plan") and are to be settled in cash in a lump sum or in annual installments beginning on April 30th following the date the Reporting Person ceases to be a director. The cash value received by the Reporting Person upon distribution will be based, one-for-one, upon the fair market value of the Common Stock underlying the phantom stock units held in the Reporting Person's account. By: Brenda C. Karickhoff for Fred Hassan 2017-06-19