SMITH BRADFORD L 4

What Happened

• Bradford L. Smith, Vice Chair and President of Microsoft (MSFT), had 3,589.532 shares disposed to satisfy tax withholding related to an option exercise. The shares were valued at $392.74 each, totaling approximately $1,409,753. The filing shows a Code F transaction (payment of exercise price or tax liability via share surrender).

Key Details

• Transaction date: 2026-03-02
• Filing date: 2026-03-03 (timely; Form 4s are due within two business days)
• Shares surrendered/disposed: 3,589.532
• Price per share: $392.74
• Total value (amount realized/withheld): ~$1,409,753
• Transaction code: F — shares used to pay tax liability or exercise price (share withholding)
• Shares owned after transaction: not specified in the provided filing excerpt
• Notable: This was a withholding/cashless-type action, not an open-market sale

Context

• When insiders exercise options, companies commonly withhold or surrender some shares to cover taxes or the exercise cost; this reduces the insider’s outstanding share count but is not an active market sale. Such withholdings are routine and do not necessarily indicate a change in the insider’s view of the company.