SEC Form 4 · accession 0001127602-15-003330
WARNER MEDIA, LLC · TWX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey L Bewkes
Officer — Chairman of the Board and CEO · Director
Period of report
Jan 28, 2015
Accepted (ET)
Jan 29, 2015 · 5:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001105705
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF2,F1 | — | Jan 28, 2015 | A | 181,724 | A | Feb 15, 2015 | Feb 15, 2015 | Common Stock, Par Value $.01 | 181,724 | 181,724 | D |
Explanation of responses
- F1Each performance stock unit represents a contingent right to receive one share of common stock.
- F2On February 15, 2012, the Reporting Person was awarded 90,862 target performance stock units (as adjusted for the spin-off of Time Inc.) with a three-year performance period ending December 31, 2014. On January 28, 2015, the Compensation and Human Development Committee approved a payout of 200% of the target PSUs under the performance standards set in 2012, based on the Issuer's cumulative Adjusted EPS achieved during the performance period and its relative total stockholder return for the performance period being at the 91.4th percentile of companies in the S&P 500.