Parsons Gets Some Time Warner Stock

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Time Warner Inc. granted restricted stock valued at about $3.5 million and 860,000 stock options to chairman and CEO Richard D. Parsons, AP reported.

The company disclosed in a Securities and Exchange Commission Monday that it granted Parsons 200,000 restricted stock units and the options Friday, according to AP.

Based on Friday's closing price of $17.43 per share, Parsons' restricted-stock award is worth about $3.5 million, AP reported.

Time Warner also granted 200,000 restricted-stock units to president and chief operating officer Jeffrey L. Bewkes, in addition to 600,000 stock options, according to AP.