SEC Form 4 · accession 0001127602-15-006861

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

Feb 15, 2015

Accepted (ET)

Feb 18, 2015 · 6:25 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001105705

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common Stock, Par Value $.01^F2	Feb 15, 2015	M	23,622	$0.00	A	98,736	D
Common Stock, Par Value $.01	Feb 15, 2015	F	13,185	$83.87	D	85,551	D
Common Stock, Par Value $.01^F2	Feb 15, 2015	M	6,331	$0.00	A	91,882	D
Common Stock, Par Value $.01	Feb 15, 2015	F	3,533	$83.87	D	88,349	D
Common Stock, Par Value $.01^F2	Feb 15, 2015	M	1,817	$0.00	A	90,166	D
Common Stock, Par Value $.01	Feb 15, 2015	F	1,014	$83.87	D	89,152	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Stock Units^F2	—	Feb 15, 2015	M	23,622	D	Feb 15, 2015	Feb 15, 2015	Common Stock, Par Value $.01	23,622	0	D
Restricted Stock Units^F6,F2,F5	—	Feb 15, 2015	M	6,331	D	—	—	Common Stock, Par Value $.01	6,331	22,466	D
Restricted Stock Units^F6,F2,F7	—	Feb 15, 2015	M	1,817	D	—	—	Common Stock, Par Value $.01	1,817	20,649	D
Employee Stock Option (Right to Buy)^F8	$83.87	Feb 15, 2015	A	77,511	A	—	Feb 14, 2025	Common Stock, Par Value $.01	77,511	77,511	D

Explanation of responses

F1On February 15, 2012, the Reporting Person was awarded 11,811 target performance stock units with a three-year performance period ending December 31, 2014. As previously reported on a Form 4 (filed with the SEC on January 29, 2015), on January 28, 2015, the Compensation and Human Development Committee approved a payout of 200% of the target performance stock units 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. On February 15, 2015, the Reporting Person acquired 23,622 shares of common stock upon the vesting of the performance stock units.
F2Each performance stock unit or restricted stock unit represents a contingent right to receive one share of common stock. The Reporting Person received one share of common stock for each performance stock unit or restricted stock unit that vested.
F3Payment of tax liability by withholding shares of common stock incident to the vesting of performance stock units or restricted stock units in accordance with Rule 16b-3.
F4Shares of common stock acquired upon the vesting of restricted stock units awarded on February 15, 2012 and February 15, 2014.
F5These restricted stock units vest in two equal installments on the third and fourth anniversaries of the date of grant, February 15, 2012.
F6These restricted stock units include (i) restricted stock units that vest in two equal installments on the third and fourth anniversaries of the following dates of grant: 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.
F7These restricted stock units vest in four equal installments on the first four anniversaries of their date of grant, February 15, 2014.
F8This option becomes exercisable in increments of 25% on the first four anniversaries of the date of grant, February 15, 2015.