SEC Filing Analysis: MICROSOFT CORP (MSFT)

Executive Summary

• Trading Significance: Low
• Key Takeaway: Director Teri List acquired 42.639 Restricted Stock Units at $0.00 via routine dividend equivalent accruals on existing RSU awards.
• Market Impact: Neutral; no market impact given the negligible transaction volume relative to Microsoft's shares outstanding.

Company Information

Field	Value
Company	MICROSOFT CORP
Ticker Symbol	MSFT
CIK	0000789019
Standard Industrial Classification	Services-Prepackaged Software [7372]

Insider Information

Field	Value
Name	List Teri
CIK	0001529370
Title/Position	Director
Relationship	Director

Transaction Details

Field	Value
Form Type	4
Transaction Date	2026-09-10
Transaction Code	A (Award/Grant)
Security Type	Restricted Stock Units
Shares Involved	42.639
Price Per Share	$0.00
Total Value	$0.00
Shares Owned After	23,117.153 RSUs (Direct), 125 Common Shares (Direct), 3,096 Common Shares (Indirect via Trust)
Ownership Type	Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$0.00
% of Market Cap	0.0000%
Shares Transacted	42.639
% of Shares Outstanding	<0.00001%
Post-Transaction Ownership (Derivative)	23,117.153 shares (<0.0004% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: With Microsoft's market capitalization exceeding $3.8 trillion, an accrual of ~43 share equivalents is non-material.
• Ownership Concentration: Director holdings represent a fractional percentage (<0.001%) of total shares outstanding (7,425,550,000).
• Dilution Impact: Virtually zero dilution impact on common shareholders.
• Transaction Significance: Routine administrative accrual of dividend equivalents pursuant to Microsoft's director compensation policy.

Market Impact Analysis

• Stock Impact Prediction: Neutral
• Reasoning: Automatic dividend equivalent accrual does not signal insider sentiment or discretionary capital allocation.
• Expected Volume Impact: None.
• Sentiment Indicator: Neutral.

Additional Context

• Footnote Disclosures: Dividend equivalent rights accrue when and as dividends are paid on the company's common stock and become exercisable proportionately with the underlying RSUs. Delivery of shares occurs 30 days after separation from Board service.