List Teri 4

What Happened

• Teri List, a member of Microsoft’s Board of Directors, received a grant of 149 restricted stock units (RSUs) on 2026-06-05. The award was reported as an acquisition (Grant/Award) at a $0.00 per-share price (no cash paid).
• The RSUs are fully vested on the grant date, meaning she has the right to receive 149 shares, but actual delivery of the shares is deferred as described in the filing.

Key Details

• Transaction date: 2026-06-05; Report filed: 2026-06-09 (filed within the standard Form 4 timeframe).
• Transaction type/code: A (Award/Grant); Shares: 149; Price: $0.00.
• Footnote summary:
  • F1: The stock award is fully vested on the grant date.
  • F2: Each RSU represents a contingent right to receive one share of Microsoft common stock.
  • F3: Although vested, delivery of the shares will occur 30 days after the reporting person’s separation from the Board of Directors.
• Shares owned after the transaction: Not specified in the provided excerpt of the filing.

Context

• RSUs are a form of deferred equity compensation (not an open-market purchase or sale). They don’t require cash outlay by the recipient; their economic value equals the market value of the underlying shares at delivery.
• Because the units are vested but delivery is deferred until after separation, this is a compensation event rather than an immediate transfer of shares to the insider. This type of award is common for directors and does not, by itself, indicate buy/sell intent.