What happens if I was entitled to receive a fraction of a share as a result of the reverse stock split?
No fractional shares were issued in connection with Time Warner Cable’s reverse stock split. Instead, any Time Warner Cable stockholder who would otherwise hold a fractional share of the company’s common stock as a result of the reverse stock split received a cash payment in lieu of such fractional share. The cash payment was equal to the fractional share interest to which the stockholder would otherwise be entitled multiplied by $24.197 (the volume weighted average price of the Time Warner Cable common stock (on a post-reverse stock split basis) on March 12, 2009, as reported on the New York Stock Exchange Composite Tape).
