SEC Form 4 · accession 0001127602-15-003365
WARNER MEDIA, LLC · TWX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Olaf Olafsson
Officer — Executive Vice President
Period of report
Jan 28, 2015
Accepted (ET)
Jan 29, 2015 · 8:43 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F4,F1,F3 | — | Jan 28, 2015 | A | 7,268 | A | — | — | Common Stock, Par Value $.01 | 7,268 | 34,644 | D |
| Performance Stock UnitsF6,F5 | — | Jan 28, 2015 | A | 23,622 | A | Feb 15, 2015 | Feb 15, 2015 | Common Stock, Par Value $.01 | 23,622 | 23,622 | D |
Explanation of responses
- F1Each restricted stock unit represents the contingent right to receive one share of common stock.
- F2These restricted stock units were awarded on February 15, 2014 and were subject to a performance condition, which the Compensation and Human Development Committee certified on January 28, 2015 had been satisfied.
- F3These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2014.
- F4These restricted stock units (as adjusted for the spin-off of Time Inc.) include (i) restricted stock units that vest in two equal installments on the third and fourth anniversaries of the following dates of grant: February 7, 2011, February 15, 2012 and February 15, 2013, and (ii) restricted stock units that vest in four equal installments on the first four anniversaries of the date of grant, February 15, 2014.
- F5Each performance stock unit represents a contingent right to receive one share of common stock.
- F6On February 15, 2012, the Reporting Person was awarded 11,811 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.