SEC Form 4 · accession 0001127602-16-042469
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
Feb 18, 2016
Accepted (ET)
Feb 19, 2016 · 4:46 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 | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $.01 | Feb 18, 2016 | M | 301,299 | $34.65 | A | 862,606 | D | |
| Common Stock, Par Value $.01F2,F3 | Feb 18, 2016 | S | 83,473 | $63.95 | D | 779,133 | D | |
| Common Stock, Par Value $.01F3,F4 | Feb 18, 2016 | S | 158,466 | $64.69 | D | 620,667 | D | |
| Common Stock, Par Value $.01F5 | holding | — | — | — | 37,668 | I | By Savings Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F6 | $34.65 | Feb 18, 2016 | M | 301,299 | D | — | Mar 2, 2016 | Common Stock, Par Value $.01 | 301,299 | 0 | D |
Explanation of responses
- F1Shares of common stock acquired upon the exercise of stock options. A portion of such shares were sold in the open market to pay the exercise price, broker commissions and tax withholdings. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 11, 2015.
- F2This transaction was executed in multiple trades at prices ranging from $63.335-$64.325. The price reported above reflects the weighted average sale price.
- F3The Reporting Person hereby undertakes to provide upon request by the staff of the Securities and Exchange Commission, Time Warner Inc. or a security holder of Time Warner Inc., full information regarding the number of shares and prices at which each transaction was effected.
- F4This transaction was executed in multiple trades at prices ranging from $64.33 to $64.905. The price reported above reflects the weighted average sale price.
- F5The 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.
- F6This option is currently exercisable.