Question: Item1 20 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 1 Microsoft provides compensation to executives in the form of a variety of
Item1 20 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 1 Microsoft provides compensation to executives in the form of a variety of incentive compensation plans, including restricted stock award grants. The following is an excerpt from a disclosure note from Microsoft's 2020 annual report: Note 18 Employee Stock and Savings Plans (in part) Stock awards entitle the holder to receive shares of Microsoft common stock as the award vests. Stock awards generally vest over a five-year period. . . . During fiscal year 2020, the following activity occurred under our plans: Shares (in millions) Weighted Average Grant-Date Fair Value Stock awards: Nonvested balance, beginning of year 147 $ 78.49 Granted 53 140.49 Vested (65) 75.35 Forfeited (9) 90.30 Nonvested balance, end of year 126 $ 105.23 Required: If all awards are granted, acquired, vested, and forfeited evenly throughout the year, what is the compensation expense in fiscal 2020 pertaining to the previous and current stock awards? Assume forfeited shares were granted evenly throughout the three previous years. Note: Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,500 should be entered as 5.5)
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