Slack - Salesforce buyout, What happens to the Options?

Your contracts will be adjusted to reflect the delivery of 7 shares of Salesforce common plus $2,679 plus cash-in-lieu for .76 shares.

Here's an example of a cash plus stock merger:

Date: May 31, 2017 RE: Cascade Bancorp ("CACB") Merger COMPLETED with First Interstate BancSystem, Inc. ("FIBK") Shareholders of Cascade Bancorp ("CACB") voted on Wednesday, May 24, 2017, and approved a proposed Merger between CACB and First Interstate BancSystem, Inc. ("FIBK"). Pursuant to the terms of the Merger, each share of CACB Common Stock outstanding immediately prior to the consummation of the Merger will be converted into the right to receive 0.14864 of a share of FIBK Common Stock, plus $1.91 cash. The Merger became effective on Tuesday, May 30, 2017.

Contract Adjustments

Pursuant to Article VI, Section 11 and 11A, of OCC's By-Laws, all outstanding CACB options shall be adjusted as follows. On Wednesday, May 31, 2017, each adjusted Cascade Bancorp contract will require the receipt or delivery of: (A) 14 shares of FIBK Common Stock; plus (B) $191.00 cash; plus (C) cash in lieu of 0.864 fractional share of FIBK Common Stock. Premiums for the adjusted Cascade Bancorp options will continue to be calculated on the basis of a multiplier of 100, i.e., for premium and strike-price extensions, 1.00 will equal $100.