Corey Rosen for the National Center for Employee Ownership provides this discussion: “Microsoft Replaces Options With Restricted Stock.” You can also access an article discussing restricted stock generally at the NCEO website as well.
Todd Bishop for the Seattle Post-Intelligencer Reporter provides this article via the website for the International Foundation of Employee Benefit Plans discussing Microsoft’s arrangement with J.P. Morgan for the sale of underwater options: “Microsoft Plan Would Revive Underwater Options.”
“Investors hail shift in options“: Mark Schwanhausser for the Mercury News via Yahoo! News.com reports on how institutional investors are praising Microsoft’s recent announcement to abandon its stock option program in favor of restricted stock. The article reports that one reason institutional investors favor the shift is that Microsoft’s top 600 bosses must now meet performance targets to get their restricted-stock grants.