Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 1, 2020 the Company announced that Frank H. Brod, Corporate Vice
President, Finance and Administration and Chief Accounting Officer, is retiring
from his position. Mr. Brod will step down from his role as Chief Accounting
Officer (the Company's principal accounting officer) on July 31, 2020, but will
remain with the Company through September 30, 2020 to assist in transition of
the Company's new Chief Accounting Officer.
On July 1, 2020 the Company also announced that Alice L. Jolla, age 54, will
become Corporate Vice President and Chief Accounting Officer effective July 31,
2020.
Ms. Jolla has served as Corporate Controller for Microsoft since 2014, leading
the corporate accounting function for the Company. Ms. Jolla also served as
Senior Director, Financial Planning and Analysis, from 2012 to 2014, and as
Senior Director, Corporate Accounting from 2008 to 2012.
Prior to joining the Company, Ms. Jolla was a Financial Accounting Standards
Board (FASB) Industry Fellow from 2005 to 2007, and prior to that held various
accounting and finance-related positions at Dow Chemical and Union Carbide.
In connection with her appointment as Chief Accounting Officer, Ms. Jolla will
receive a stock award of $1.5 million under the Microsoft Corporation 2017 Stock
Plan, which will vest 6.25% every quarter, provided Ms. Jolla remains
continuously employed. The number of shares to be issued under the stock award
will be determined by dividing the dollar value of the stock award by the
closing price of Microsoft common stock on the grant date.
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