X0306 4 2014-01-29 0001105705 TIME WARNER INC. TWX 0001237444 CAPPUCCIO PAUL T ONE TIME WARNER CENTER NEW YORK NY 10019-8016 1 EVP and General Counsel Performance Stock Units 2014-01-29 4 A 0 37451 0 A 2014-02-07 2014-02-07 Common Stock, Par Value $.01 37451 37451 D Restricted Stock Units 2014-01-29 4 A 0 17984 0 A Common Stock, Par Value $.01 17984 74549 D Each performance stock unit represents a contingent right to receive one share of common stock. On February 7, 2011, the Reporting Person was awarded 20,555 target performance stock units ("PSUs") with a three-year performance period ending December 31, 2013. On January 29, 2014, the Compensation & Human Development Committee approved a payout of 182.2% of the target PSUs in accordance with the performance standards set in 2011, based on the Issuer's relative total stockholder return for the performance period being at the 91st percentile of the companies in the S&P 500. Each restricted stock unit represents a contingent right to receive one share of common stock. These restricted stock units were awarded on February 15, 2013 and were subject to a performance condition, which the Compensation and Human Development Committee certified on January 29, 2014 had been satisfied. These restricted stock units vest in two equal installments on the third and fourth anniversaries of their date of grant, February 15, 2013. These restricted stock units vest in two equal installments on the third and fourth anniversaries of their dates of grant, February 8, 2010, February 7, 2011, February 15, 2012 and February 15, 2013. By: Brenda C. Karickhoff for Paul T. Cappuccio 2014-01-31