Form 4: Microsoft Director Teri List Reports Share Holdings

Microsoft Director Teri List disclosed her beneficial ownership of common stock and restricted stock units, including a recent acquisition of RSUs.

Summary

• Teri List, a Director at Microsoft Corporation, reported her beneficial ownership of company securities.
• The filing indicates direct ownership of 130 shares of common stock and indirect ownership of 2,672 shares of common stock held by a trust.
• She acquired 43.15 Restricted Stock Units (RSUs) on December 11, 2025, which represent a contingent right to receive one share of Microsoft common stock each.
• These RSUs are fully vested, and the shares will be delivered 30 days after her separation from service to the Board of Directors.
• Dividend equivalent rights accrue on the RSUs.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.
• Following these transactions, Teri List beneficially owns 22,968.837 Restricted Stock Units directly.

Sentiment

Score: 7

Explanation: The filing is a routine disclosure of a director's equity holdings and a small RSU acquisition, which is generally positive as it indicates continued alignment with shareholder interests and is part of standard compensation. No negative information is present.

Positives

• Acquisition of 43.15 Restricted Stock Units (RSUs) by a director indicates continued alignment of interests with shareholders.
• The RSUs are fully vested, providing a clear future entitlement to shares.
• The transaction was conducted under a Rule 10b5-1(c) plan, suggesting a pre-planned and orderly approach to insider transactions.

Future Outlook

The filing indicates that the delivery of shares from the Restricted Stock Units will occur 30 days after Teri List's separation from service to the Board of Directors.

Industry Context

This filing is a routine disclosure of insider stock ownership and transactions, common for directors and officers of publicly traded companies like Microsoft. Such disclosures provide transparency into management's equity holdings and alignment with shareholder interests.

Comparison to Industry Standards

• The structure of Restricted Stock Units (RSUs) with dividend equivalent rights and vesting upon separation from service is a standard form of equity compensation for directors in large technology companies, comparable to practices at Apple, Google, and Amazon, which also use similar long-term incentive structures to align director interests with company performance and retention.

Corporate Governance

Related Party Transactions

• Indirect ownership of 2,672 common shares 'By Trust' indicates a related party holding, which is a standard disclosure for insider filings.

Stakeholder Impact

• Shareholders: The acquisition of RSUs by a director generally signals continued confidence in the company and aligns the director's financial interests with those of shareholders.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Next Steps

• Delivery of shares from the Restricted Stock Units will be made 30 days after Teri List's separation from service to the Board of Directors.

Key Dates

Recommendation

This Form 4 filing is a routine disclosure of a director's equity holdings and a small RSU acquisition, which is a standard part of compensation and corporate governance. It does not contain information significant enough to warrant a change in investment recommendation for Microsoft, which should be based on broader financial performance, strategic outlook, and market conditions rather than a single insider transaction of this nature.

Keywords

Microsoft, MSFT, Teri List, Form 4, Insider Trading, Beneficial Ownership, Restricted Stock Units, RSU, Director, Equity Compensation, Rule 10b5-1