Answer:
The correct answer is letter "C": the gift of the common stock to an employee of the issuer.
Explanation:
Under the Uniform Securities Act a "sale" or "offer to sell" is any offer to sell the common stock for value or any request of an offer to purchase the common stock at a certain value. In that case, gifts of common stocks from any party to another will not fall under this category since in the exchange there is no economic value dealt that made the transaction happen.
