Morgan Stanley (NYSE: MS) Co-President awarded stock units plus tax share withholding

Rhea-AI Filing Summary

Morgan Stanley Co-President Andrew M. Saperstein reported two equity transactions dated January 16, 2026. He received 39,994.09 shares of common stock at a price of $0, reflecting the conversion of Restricted Stock Units granted in 2026 as part of his 2025 year-end compensation, with each unit convertible into one share of common stock. On the same date, 27,265 shares of common stock were withheld at $191.23 per share to satisfy taxes due on the conversion of Restricted Stock Units granted on January 18, 2023. Following these transactions, he directly owned 310,810.994 shares of Morgan Stanley common stock.

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

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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^*

SAPERSTEIN ANDREW M

(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)
	Co-President

3. Date of Earliest Transaction (Month/Day/Year)
01/16/2026

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	01/16/2026		A(1)		39,994.09	A	$0	338,075.994	D
Common Stock	01/16/2026		F(2)		27,265	D	$191.23	310,810.994	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. Restricted Stock Units granted in 2026 as part of 2025 year-end compensation, which are convertible to shares of Common Stock at a ratio of 1 to 1.

2. Shares withheld to satisfy taxes upon the conversion of Restricted Stock Units granted on January 18, 2023.

Remarks:

	/s/ Martin M. Cohen, Attorney-in-Fact	01/16/2026
	** 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.
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FAQ

What insider transactions did Morgan Stanley (MS) report for Andrew Saperstein?

The filing reports that Co-President Andrew M. Saperstein received 39,994.09 shares of Morgan Stanley common stock from Restricted Stock Units and had 27,265 shares withheld to cover taxes related to an earlier RSU grant.

When did Andrew Saperstein’s reported Morgan Stanley (MS) transactions occur?

Both reported transactions occurred on January 16, 2026, as disclosed in the insider trading report.

How many Morgan Stanley shares does Andrew Saperstein own after these transactions?

After the reported activity, Andrew M. Saperstein directly owned 310,810.994 shares of Morgan Stanley common stock.

What is the nature of the 39,994.09 Morgan Stanley shares granted to Andrew Saperstein?

The 39,994.09 shares reflect Restricted Stock Units granted in 2026 as part of 2025 year-end compensation, which convert into common stock at a 1-to-1 ratio.

Why were 27,265 Morgan Stanley shares withheld from Andrew Saperstein?

The 27,265 shares were withheld to satisfy taxes upon the conversion of Restricted Stock Units that were originally granted on January 18, 2023.

Are Andrew Saperstein’s reported Morgan Stanley holdings direct or indirect?

The filing indicates that the 310,810.994 shares of Morgan Stanley common stock reported after the transactions are held with direct ownership.