Morgan Stanley (MS) CCO granted 9,666 shares as PSU vests; 4,935 withheld

Rhea-AI Filing Summary

Morgan Stanley Chief Client Officer Mandell Crawley received a stock award and had shares withheld for taxes. On the same date, he acquired 9,666 shares of common stock at no cost when a January 18, 2023 performance stock unit award vested based on pre-set return-on-tangible-common-equity goals. The company then withheld 4,935 shares at a price of $160.89 per share to cover related tax obligations. After these compensation-related transactions, Crawley directly holds 78,657.888 shares of Morgan Stanley common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider CRAWLEY MANDELL

Role Chief Client Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	9,666	$0.00	--
Tax Withholding	Common Stock	4,935	$160.89	$794K

Holdings After Transaction: Common Stock — 83,592.888 shares (Direct)

Footnotes (1)

1. Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023. Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CRAWLEY MANDELL

(Last) (First) (Middle)

C/O MORGAN STANLEY

1585 BROADWAY

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MORGAN STANLEY [ MS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Client Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/12/2026		A(1)		9,666	A	$0	83,592.888	D
Common Stock	03/12/2026		F(2)		4,935	D	$160.89	78,657.888	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares earned based on the Company's achievement of pre-established relative return on tangible common equity performance criteria with respect to one-half of the target performance stock unit award ("PSU Award") granted on January 18, 2023.

2. Shares withheld to satisfy taxes upon the conversion of the PSU Award described in footnote (1).

Remarks:

	/s/ Martin M. Cohen, Attorney-in-Fact	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did Morgan Stanley (MS) report for Mandell Crawley?

Mandell Crawley received 9,666 Morgan Stanley common shares from a vested performance stock unit award. The company then withheld 4,935 shares to cover taxes, leaving him with 78,657.888 shares held directly after the transactions.

Was Mandell Crawley buying or selling Morgan Stanley (MS) stock in this Form 4?

The filing shows a compensation grant and tax withholding, not open-market trading. Crawley acquired 9,666 shares from a performance award, and 4,935 of those shares were withheld by the company to satisfy tax obligations tied to the award.

How many Morgan Stanley (MS) shares does Mandell Crawley own after this Form 4?

After the reported transactions, Mandell Crawley directly owns 78,657.888 shares of Morgan Stanley common stock. This reflects the net result of receiving 9,666 shares from a vested performance award and 4,935 shares withheld for taxes.

What performance criteria triggered Mandell Crawley’s stock award at Morgan Stanley (MS)?

The shares were earned based on Morgan Stanley’s achievement of pre-established relative return on tangible common equity performance criteria. These criteria applied to one-half of the target performance stock unit award initially granted to Mandell Crawley on January 18, 2023.

Why were 4,935 Morgan Stanley (MS) shares disposed of in Mandell Crawley’s Form 4?

The 4,935-share disposition represents tax withholding, not an open-market sale. Morgan Stanley withheld these shares to satisfy tax liabilities arising from the conversion of the vested performance stock unit award into common shares.

What type of equity award did Mandell Crawley receive from Morgan Stanley (MS)?

Mandell Crawley’s transaction involves a performance stock unit award. A portion of this PSU award, granted on January 18, 2023, converted into 9,666 common shares after Morgan Stanley met specific relative return on tangible common equity performance targets.