How does a Microsoft employee who currently holds Microsoft stock options participate in the tender offer?
The tender offer only applies to issued shares of Microsoft common stock, therefore stock options may not be tendered. However, an employee who currently holds vested options may exercise those options in accordance with the terms of the Microsoft Stock Plans and tender any of the shares issued upon exercise. The process for tendering shares is contained in the tender offer documentation and instructions. A Microsoft employee should note that an exercise of a stock option may not be revoked even if (i)the shares acquired are tendered and not purchased in the tender offer or (ii)the Microsoft employee elects to revoke his or her tender of shares. An employee who currently holds unvested options may not exercise those options until they vest and thus cannot tender the shares in the tender offer. 17. Does this impact employees that hold Microsoft stock through the ESPP program? A: Yes, employees who hold shares that they purchased shares through the ESPP may elect to tender some or all of
