What happens to the Cognos Employee Stock Purchase Plan?
The Cognos Employee Stock Purchase Plan will be suspended by Cognos no later than two business days prior to the closing date of the transaction. Each employee participating in the plan at such time will be able to complete the purchase period then in progress; however, such purchase period will end on the third business day prior to the closing date of the transaction. Any Cognos shares acquired by an employee under the plan will be subsequently acquired by IBM through an indirect subsidiary upon the closing of the transaction for US$58.00 per Cognos share. Any funds contributed to the plan by an employee that are not used to purchase Cognos shares will be returned to such employee in accordance with the terms of the plan. Upon closing of the transaction, the plan will be terminated. What broker will be used for stock option and RSU transactions after the deal closes? IBM uses Smith Barney. Approximately four to six weeks after the closing date, an account at Smith Barney will be open
