X0306 4 2013-02-15 0001105705 TIME WARNER INC. TWX 0001237443 BEWKES JEFFREY L ONE TIME WARNER CENTER NEW YORK NY 10019-8016 1 1 Chairman of the Board and CEO Common Stock, Par Value $.01 2013-02-15 4 A 0 189199.473 0 A 442890.473 D Common Stock, Par Value $.01 2013-02-15 4 F 0 105610 53.52 D 337280.473 D Common Stock, Par Value $.01 2013-02-15 4 S 0 1.473 53.52 D 337279 D Common Stock, Par Value $.01 34752 I By Savings Plan Employee Stock Option (Right to Buy) 53.52 2013-02-15 4 A 0 605144 0 A 2023-02-14 Common Stock, Par Value $.01 605144 605144 D Shares of common stock acquired upon the vesting of performance stock units awarded on January 1, 2008. The Reporting Person received one share of common stock for each performance stock unit that vested. Vesting of the performance stock units was contingent upon the Issuer's achievement of certain performance criteria during the 2008-2012 performance period. Payment of tax liability by withholding shares of common stock incident to the vesting of performance stock units in accordance with Rule 16b-3 of the Securities Exchange Act of 1934. Cash payment in lieu of fractional shares. This transaction is exempt under Rule 16b-3 of the Securities Exchange Act of 1934. The Time Warner Savings Plan, a qualified employee benefit plan (the "Savings Plan"). Includes shares of common stock acquired through the reinvestment of dividends paid on the common stock held by the Savings Plan. This option becomes exercisable in increments of 25% on the first four anniversaries of the date of grant, February 15, 2013. By: Brenda C. Karickhoff for Jeffrey L. Bewkes 2013-02-19