MS insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Mary Schapiro Director	1,000	$212.06	2.4%	38K	Jul 28, 2026	Jul 29, 2026

What stands out

Eight officers sold $68.0M with no disclosed plan: Edward Pick ($16.4M), Andrew Saperstein ($15.3M) and Michael Pizzi ($8.9M), plus 5 more. The filings don't state a reason.Edward Pick: largest such sale, Oct 31, 2025 · Andrew Saperstein: largest such sale, Apr 16, 2026 · Michael Pizzi: largest such sale, Jan 20, 2026

Tax withholding outweighed market sales: the company withheld $70.8M of officers' and directors' shares for taxes, against $68.2M sold on the open market. The largest was Edward Pick ($18.1M withheld).Largest withholding, Jan 16, 2026

Percentages cover 12 of 21 officers and directors. 9 are left out

Left out: Edward Pick, Daniel Simkowitz, Andrew Saperstein, Eric Grossman, Michael Pizzi, Sharon Yeshaya, Charles Smith, Mandell Crawley and Erika James (holdings couldn't be fully reconciled).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

Edward Pick

Chairman and CEO, Director

Sold $16.4M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$16.4MNo plan disclosed

Andrew Saperstein

Co-President

Sold $15.3M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$15.3MNo plan disclosed

Michael Pizzi

Head Technology & Operations

Sold $8.9M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$8.9MNo plan disclosed

Daniel Simkowitz

Co-President

Sold $8.8M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$8.8MNo plan disclosed

Sharon Yeshaya

Chief Financial Officer

Sold $6.4M (plan status beside the amount). Share of stake not shown: holdings couldn't be fully reconciled. Why

$6.4MNo plan disclosed

All 9 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled

Outside holders, reported separately

MITSUBISHI UFJ FINANCIAL GROUP INC reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Morgan Stanley CEO selling stock?

Yes. Edward Pick sold 100K shares ($16.4M) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are Morgan Stanley insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Morgan Stanley insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Morgan Stanley insiders sell?

About 0.2% overall. As a group they ended with more shares than they started with. These figures leave out Edward Pick, the largest holder (holdings couldn't be fully reconciled). That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold9 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Edward Pick Chairman and CEO, Director	$16.4M 100K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Andrew Saperstein Co-President	$15.3M 82K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Michael Pizzi Head Technology & Operations	$8.9M 44K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Daniel Simkowitz Co-President	$8.8M 48K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Sharon Yeshaya Chief Financial Officer	$6.4M 31K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Eric Grossman Chief Legal/Admin Officer	$6.1M 33K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Mandell Crawley Chief Client Officer	$4.5M 24K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Charles Smith Chief Risk Officer	$1.5M 8.5K shares	i No percentage: holdings couldn't be fully reconciled.	No plan disclosed
Mary Schapiro Director	$212K 1K shares	2.5%	No plan disclosed

Outside holder, reported separately: MITSUBISHI UFJ FINANCIAL GROUP INC (a 10% owner, not part of management). No open-market sales reported in the period. Latest filing

The full ownership picture12 of 21 insiders fully reconciled · 21 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 9, 2025

Sold

Held Oct 9, 2026

Still held

Edward Pick

Holdings couldn't be fully reconciled. A footnote describes a transfer or distribution between related entities, but the amounts could not be matched to the balance change. Largest: +78,874.884 shares on Jan 16, 2026 (Direct). See the filing Sales and other transactions for Edward Pick are complete.

Chairman and CEO, Director

n/a

−100K

n/a

Vesting, gifts, unvested awards and holding lines for Edward Pick

0shares vested or exercised

−8.3Kgifted (net of own trusts)

−103Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. A footnote describes a transfer or distribution between related entities, but the amounts could not be matched to the balance change. Largest: +78,874.884 shares on Jan 16, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	670,819	666,249
Grantor Retained Annuity Trust	Common Stock	181,976	104,963
401(k) Plan	Common Stock	4,189	4,298

Daniel Simkowitz

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +2,211.33 shares on Oct 29, 2025 (Direct). See the filing Sales and other transactions for Daniel Simkowitz are complete.

Co-President

n/a

−48K

n/a

Vesting, gifts, unvested awards and holding lines for Daniel Simkowitz

0shares vested or exercised

−18Kgifted (net of own trusts)

−72Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +2,211.33 shares on Oct 29, 2025 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	391,546	365,802
401(k) Plan	Common Stock	1,773	1,805

Andrew Saperstein

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +3,831.488 shares on Jan 16, 2026 (Direct). See the filing Sales and other transactions for Andrew Saperstein are complete.

Co-President

n/a

−82K

n/a

Vesting, gifts, unvested awards and holding lines for Andrew Saperstein

0shares vested or exercised

0gifted (net of own trusts)

−81Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +3,831.488 shares on Jan 16, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	294,250	282,142

Eric Grossman

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -11,765.505 shares on Jan 20, 2026 (Direct). See the filing Sales and other transactions for Eric Grossman are complete.

Chief Legal/Admin Officer

n/a

−33K

n/a

Vesting, gifts, unvested awards and holding lines for Eric Grossman

0shares vested or exercised

−2.5Kgifted (net of own trusts)

−44Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: -11,765.505 shares on Jan 20, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	186,420	169,403

Michael Pizzi

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,219.472 shares on Jan 16, 2026 (Direct). See the filing Sales and other transactions for Michael Pizzi are complete.

Head Technology & Operations

n/a

−44K

n/a

Vesting, gifts, unvested awards and holding lines for Michael Pizzi

0shares vested or exercised

0gifted (net of own trusts)

−28Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,219.472 shares on Jan 16, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	4.875% Non-Cumulative Preferred Stock, Series L	4,100	4,100
Direct	Common Stock	135,657	121,770

Sharon Yeshaya

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,673.754 shares on Jan 16, 2026 (Direct). See the filing Sales and other transactions for Sharon Yeshaya are complete.

Chief Financial Officer

n/a

−31K

n/a

Vesting, gifts, unvested awards and holding lines for Sharon Yeshaya

0shares vested or exercised

0gifted (net of own trusts)

−35Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,673.754 shares on Jan 16, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	128,662	136,810
LLC on behalf of Trust	Common Stock	0	0

Charles Smith

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,183.821 shares on Jan 16, 2026 (Direct). See the filing Sales and other transactions for Charles Smith are complete.

Chief Risk Officer

n/a

−8.5K

n/a

Vesting, gifts, unvested awards and holding lines for Charles Smith

0shares vested or exercised

0gifted (net of own trusts)

−17Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,183.821 shares on Jan 16, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	119,239	119,128
401(k) Plan	Common Stock	5,427	5,495

Thomas Glocer

Minor difference of 2,803 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

119K

125K

no sales

Vesting, gifts, unvested awards and holding lines for Thomas Glocer

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	119,288	124,550

Reconciliation: minor difference of 2,803 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Robert Herz

Minor difference of 1,821 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

99K

103K

no sales

Vesting, gifts, unvested awards and holding lines for Robert Herz

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	99,432	102,563

Reconciliation: minor difference of 1,821 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Perry Traquina

Minor difference of 2,121 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

87K

91K

no sales

Vesting, gifts, unvested awards and holding lines for Perry Traquina

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	87,073	91,332

Reconciliation: minor difference of 2,121 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Rayford Wilkins Jr.

Minor difference of 1,034 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

76K

78K

no sales

Vesting, gifts, unvested awards and holding lines for Rayford Wilkins Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	75,925	78,269

Reconciliation: minor difference of 1,034 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Judith Miscik

Minor difference of 896 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

64K

66K

no sales

Vesting, gifts, unvested awards and holding lines for Judith Miscik

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	64,288	66,494

Reconciliation: minor difference of 896 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Mandell Crawley

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,270.618 shares on Jan 16, 2026 (Direct). See the filing Sales and other transactions for Mandell Crawley are complete.

Chief Client Officer

n/a

−24K

n/a

Vesting, gifts, unvested awards and holding lines for Mandell Crawley

0shares vested or exercised

−1.1Kgifted (net of own trusts)

−16Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +1,270.618 shares on Jan 16, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	63,140	61,476

Shelley Leibowitz

Minor difference of 246 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

49K

48K

no sales

Vesting, gifts, unvested awards and holding lines for Shelley Leibowitz

0shares vested or exercised

−1.8Kgifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	48,614	48,370

Additional holdings last reported Oct 2, 2020, not confirmed since: 302 shares. Not included in any total or percentage on this page.

Direct, 4.875% Non-Cumulative Preferred Stock, Ser L: 20 shares, last reported Oct 2, 2020
Direct, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Ser E: 90 shares, last reported Oct 2, 2020
Direct, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Ser F: 57 shares, last reported Oct 2, 2020
Direct, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Ser I: 37 shares, last reported Oct 2, 2020
Direct, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Ser K: 67 shares, last reported Oct 2, 2020
Direct, Floating Rate Non-Cumulative Preferred Stock, Ser A: 31 shares, last reported Oct 2, 2020

Reconciliation: minor difference of 246 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Dennis Nally

Minor difference of 607 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

44K

47K

no sales

Vesting, gifts, unvested awards and holding lines for Dennis Nally

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	44,385	47,076

Reconciliation: minor difference of 607 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Mary Schapiro

Minor difference of 886 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

40K

−1K

39K

97%

Vesting, gifts, unvested awards and holding lines for Mary Schapiro

0shares vested or exercised

−2.3Kgifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	39,647	38,518

Reconciliation: minor difference of 886 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Erika James

Holdings couldn't be fully reconciled. A footnote describes a transfer or distribution between related entities, but the amounts could not be matched to the balance change. Largest: +522 shares on Jan 20, 2026 (Direct). See the filing Sales and other transactions for Erika James are complete.

Director

n/a

Vesting, gifts, unvested awards and holding lines for Erika James

0shares vested or exercised

−1.1Kgifted (net of own trusts)

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. A footnote describes a transfer or distribution between related entities, but the amounts could not be matched to the balance change. Largest: +522 shares on Jan 20, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	12,274	13,253

Douglas Peterson

Minor difference of 28 shares. Difference is under 0.5% of holdings.

Director

9.7K

12K

no sales

Vesting, gifts, unvested awards and holding lines for Douglas Peterson

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	9,716	11,672

Reconciliation: minor difference of 28 shares. Difference is under 0.5% of holdings.

Victoria Worster

Minor difference of 43 shares. Difference is under 0.5% of holdings.

Chief Accounting Officer

8.8K

13K

no sales

Vesting, gifts, unvested awards and holding lines for Victoria Worster

0shares vested or exercised

0gifted (net of own trusts)

−369withheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	8,767	13,165

Reconciliation: minor difference of 43 shares. Difference is under 0.5% of holdings.

Megan Butler

Minor difference of 85 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

4.6K

5.8K

no sales

Vesting, gifts, unvested awards and holding lines for Megan Butler

0shares vested or exercised

0gifted (net of own trusts)

−190withheld by the company for taxes

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	4,624	5,829

Reconciliation: minor difference of 85 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Lynn Good

Minor difference of 31 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

1.7K

3.5K

no sales

Vesting, gifts, unvested awards and holding lines for Lynn Good

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	1,658	3,501

Reconciliation: minor difference of 31 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

12 of 21 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (0 exactly, 12 with a minor or footnoted difference). For 9 we show sales but not holdings; the ! icon on their rows explains why. Percentages cover 12 of 21 officers and directors. Left out: Edward Pick, Daniel Simkowitz, Andrew Saperstein, Eric Grossman, Michael Pizzi, Sharon Yeshaya, Charles Smith, Mandell Crawley and Erika James (holdings couldn't be fully reconciled). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$68.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $68.2M across 371,375 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $68.2M

Sales with no 10b5-1 plan and no tax reference in the filing. $16.4M of it is Edward Pick. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Edward Pick, Oct 31, 2025

Taxes

396,750 shares ($70.8M) were withheld by the company for taxes, which isn't a market sale.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Edward Pick Chairman and CEO, Director	100K	$16.4M	0%	24%	Oct 31, 2025 to Oct 31, 2025
Andrew Saperstein Co-President	82K	$15.3M	0%	22%	Jan 20, 2026 to Apr 16, 2026
Michael Pizzi Head Technology & Operations	44K	$8.9M	0%	13%	Jan 20, 2026 to Jul 17, 2026
Daniel Simkowitz Co-President	48K	$8.8M	0%	13%	Jan 30, 2026 to Apr 17, 2026
Sharon Yeshaya Chief Financial Officer	31K	$6.4M	0%	9%	Jan 20, 2026 to Jul 16, 2026
Eric Grossman Chief Legal/Admin Officer	33K	$6.1M	0%	9%	Jan 20, 2026 to Apr 20, 2026
Mandell Crawley Chief Client Officer	24K	$4.5M	0%	7%	Jan 20, 2026 to Apr 16, 2026
Charles Smith Chief Risk Officer	8.5K	$1.5M	0%	2%	Jan 20, 2026 to Jan 20, 2026
Mary Schapiro Director	1K	$212K	0%	0.3%	Jul 28, 2026 to Jul 28, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$16.4M	$0	$0	$16.4M
Nov 2025	$0	$0	$0	$0
Dec 2025	$0	$0	$0	$0
Jan 2026	$25.2M	$0	$0	$25.2M
Feb 2026	$0	$0	$0	$0
Mar 2026	$0	$0	$0	$0
Apr 2026	$17.7M	$0	$0	$17.7M
May 2026	$0	$0	$0	$0
Jun 2026	$0	$0	$0	$0
Jul 2026	$8.9M	$0	$0	$8.9M
Aug 2026	$0	$0	$0	$0
Sep 2026	$0	$0	$0	$0
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about two-thirds of the 5-year average. 9 insiders sold; the average is 9 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 9, 2026 Latest 12 months	371K	9	$68.2M
Oct 9, 2025 1 year earlier	413K	10	$54.7M
Oct 9, 2024 2 years earlier	697K	9	$66.1M
Oct 10, 2023 3 years earlier	1.11M	10	$106M
Oct 10, 2022 4 years earlier	136K	7	$13.8M
Oct 10, 2021 5 years earlier	496K	10	$37.5M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty9 insiders whose holdings couldn't be fully reconciled

Edward Pick: holdings couldn't be fully reconciled (difference of 7,546 shares). A footnote describes a transfer or distribution between related entities, but the amounts could not be matched to the balance change. Largest: +78,874.884 shares on Jan 16, 2026 (Direct). Filing, Jan 16, 2026

Footnote: "Shares withheld to satisfy taxes upon the conversion of Restricted Stock Units granted on January 18, 2023. | Since the Reporting Person's last report, 77,013 shares of Common Stock previously reported as indirectly beneficially owned by a grantor retained annuity trust were transferred back to the Reporting Person in satisfaction of an annuity payment."

Daniel Simkowitz: holdings couldn't be fully reconciled (difference of 6,008 shares). Balance changed with no matching transaction and no footnote: +2,211.33 shares on Oct 29, 2025 (Direct). Filing, Oct 29, 2025

Andrew Saperstein: holdings couldn't be fully reconciled (difference of 5,493 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +3,831.488 shares on Jan 16, 2026 (Direct). Filing, Jan 16, 2026

Footnote: "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."

Eric Grossman: holdings couldn't be fully reconciled (difference of -20,158 shares). Balance changed without a matching transaction, and the footnote does not state the amount: -11,765.505 shares on Jan 20, 2026 (Direct). Filing, Jan 20, 2026

Footnote: "The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $184.00 to $184.02, inclusive. The Reporting Person undertakes to provide to Morgan Stanley, any security holder of Morgan Stanley, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote."

Michael Pizzi: holdings couldn't be fully reconciled (difference of 2,218 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +1,219.472 shares on Jan 16, 2026 (Direct). Filing, Jan 16, 2026

Footnote: "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."

Sharon Yeshaya: holdings couldn't be fully reconciled (difference of 3,179 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +1,673.754 shares on Jan 16, 2026 (Direct). Filing, Jan 16, 2026

Footnote: "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."

Charles Smith: holdings couldn't be fully reconciled (difference of 1,268 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +1,183.821 shares on Jan 16, 2026 (Direct). Filing, Jan 16, 2026

Footnote: "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."

Mandell Crawley: holdings couldn't be fully reconciled (difference of 1,678 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +1,270.618 shares on Jan 16, 2026 (Direct). Filing, Jan 16, 2026

Footnote: "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."

Erika James: holdings couldn't be fully reconciled (difference of 733 shares). A footnote describes a transfer or distribution between related entities, but the amounts could not be matched to the balance change. Largest: +522 shares on Jan 20, 2026 (Direct). Filing, Jan 20, 2026

Footnote: "This Form 4/A amends the Form 4 filed on January 16, 2026, to correct the transaction date, the number of shares transferred in connection with a bona fide gift, and the amount of securities beneficially owned following the reported transaction."

Thomas Glocer: minor difference of 2,803 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Robert Herz: minor difference of 1,821 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Perry Traquina: minor difference of 2,121 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Rayford Wilkins Jr.: minor difference of 1,034 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Judith Miscik: minor difference of 896 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Shelley Leibowitz: minor difference of 246 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Dennis Nally: minor difference of 607 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Mary Schapiro: minor difference of 886 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Douglas Peterson: minor difference of 28 shares. Difference is under 0.5% of holdings.

Victoria Worster: minor difference of 43 shares. Difference is under 0.5% of holdings.

Megan Butler: minor difference of 85 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Lynn Good: minor difference of 31 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Inferred rename: "Merin Family Partnership LP" is treated as the same holder as "Family Limited Partnership", because the old name was never reported again and the new one opened with the same balance (13,800 shares). Old name, new name

Inferred rename: "GRAT" is treated as the same holder as "Grantor Retained Annuity Trust", because the old name was never reported again and the new one opened with the same balance (20,000 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,336 filings from SEC EDGAR, and how we read them

All 1,336 Forms 3, 4 and 5 filed for Morgan Stanley (SEC CIK 895421) from Feb 14, 1997 to Sep 24, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 346 filings were left out because Morgan Stanley filed them as an owner of another company's stock. 119 older filings exist only on paper and could not be read.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (82)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Raja Akram	Jan 23, 2025	81,440 shares, last reported balance as of Jan 21, 2025
Stephen Luczo	Jan 3, 2025	215,706 shares, last reported balance as of Dec 31, 2024
James Gorman	Jul 26, 2024	558,564 shares, last reported balance as of Jul 24, 2024
Alistair Darling	Jun 2, 2023	37,783 shares, last reported balance as of Jun 1, 2023
Keishi Hotsuki	Feb 24, 2023	339,211 shares, last reported balance as of Feb 24, 2023
Jonathan Pruzan	Jan 20, 2023	413,183 shares, last reported balance as of Jan 18, 2023
Elizabeth Corley	Apr 25, 2022	26,599 shares, last reported balance as of Apr 21, 2022
Robert Rooney	Jan 21, 2022	253,946 shares, last reported balance as of Jan 20, 2022
Hutham Olayan	May 21, 2021	222,517 shares, last reported balance as of May 20, 2021
Jeffrey Brodsky	Jan 22, 2021	154,387 shares, last reported balance as of Jan 21, 2021
Paul Wirth	Jan 17, 2020	154,326 shares, last reported balance as of Jan 17, 2020
Thomas Kelleher	Jun 4, 2019	970,068 shares, last reported balance as of Apr 24, 2019
James Owens	May 29, 2018	82,783 shares, last reported balance as of May 24, 2018
Erskine Bowles	Feb 5, 2018	160,236 shares, last reported balance as of Feb 1, 2018
Klaus Kleinfeld	Dec 22, 2016	51,952 shares, last reported balance as of Sep 15, 2016
James Rosenthal	Nov 21, 2016	380,920 shares, last reported balance as of Nov 18, 2016
Donald Nicolaisen	Aug 4, 2016	89,802 shares, last reported balance as of Aug 2, 2016
Gregory Fleming	Aug 31, 2015	603,276 shares, last reported balance as of Jul 23, 2015
Laura Tyson	May 21, 2015	76,549 shares, last reported balance as of May 19, 2015
Howard Davies	May 21, 2015	67,151 shares, last reported balance as of May 19, 2015
Ruth Porat	Mar 2, 2015	918,959 shares, last reported balance as of Mar 2, 2015
Griffith Sexton	Nov 4, 2014	756,871 shares, last reported balance as of Nov 1, 2014
Robert Kidder	May 15, 2014	158,731 shares, last reported balance as of May 13, 2014
Roy Bostock	May 17, 2012	97,196 shares, last reported balance as of May 15, 2012
Paul Taubman	Jan 24, 2012	1,281,498 shares, last reported balance as of Jan 20, 2012
James Hance Jr.	May 20, 2011	46,946 shares, last reported balance as of May 18, 2011
John Mack	Jan 21, 2011	2,816,786 shares, last reported balance as of Jan 21, 2011
Kenneth deRegt	Jan 21, 2011	230,414 shares, last reported balance as of Jan 21, 2011
Francis Barron	Jan 21, 2011	69,441 shares, last reported balance as of Jan 21, 2011
Walid Chammah	Oct 8, 2010	647,854 shares, last reported balance as of Oct 7, 2010
Thomas Nides	Oct 8, 2010	208,723 shares, last reported balance as of Oct 7, 2010
CHINA INVESTMENT CORP	Aug 11, 2010	156,361,522 shares, last reported balance as of Aug 9, 2010
Gary Lynch	Jan 25, 2010	456,411 shares, last reported balance as of Jan 21, 2010
Charles Johnston	Jan 22, 2010	137,531 shares, last reported balance as of Jan 21, 2010
Charles Phillips Jr.	Jul 30, 2009	29,602 shares, last reported balance as of Jul 28, 2009
Charles Noski	May 1, 2009	42,097 shares, last reported balance as of Apr 29, 2009
Linda Riefler	Jan 9, 2009	91,861 shares, last reported balance as of Jan 1, 2009
Zoe Cruz	Sep 11, 2007	1,678,823 shares, last reported balance as of Sep 10, 2007
Eileen Murray	Apr 13, 2007	304,943 shares, last reported balance as of Apr 13, 2007
Klaus Zumwinkel	Apr 12, 2007	15,103 shares, last reported balance as of Apr 10, 2007
Robert Scully	Dec 29, 2006	530,348 shares, last reported balance as of Dec 29, 2006
David Sidwell	Dec 14, 2006	520,962 shares, last reported balance as of Dec 12, 2006
Roger Hochschild	Oct 12, 2006	161,462 shares, last reported balance as of Oct 12, 2006
Thomas Daula	Oct 12, 2006	76,819 shares, last reported balance as of Oct 11, 2006
David Nelms	Oct 5, 2006	449,102 shares, last reported balance as of Oct 4, 2006
David Heleniak	Sep 29, 2006	314,658 shares, last reported balance as of Feb 14, 2006
Owen Thomas	May 9, 2006	455,237 shares, last reported balance as of May 5, 2006
Cordell Spencer	Feb 3, 2006	281,740 shares, last reported balance as of Feb 3, 2006
Edward Brennan	Jan 11, 2006	211,624 shares, last reported balance as of Dec 23, 2005
Neal Shear	Dec 23, 2005	734,099 shares, last reported balance as of Dec 23, 2005
Jerker Johansson	Dec 15, 2005	409,739 shares, last reported balance as of Dec 13, 2005
Alasdair Morrison	Dec 15, 2005	122,505 shares, last reported balance as of Dec 13, 2005
Jonathan Chenevix-Trench	Dec 15, 2005	711,668 shares, last reported balance as of Dec 13, 2005
Raymond Harris	Dec 15, 2005	107,775 shares, last reported balance as of Dec 13, 2005
Joseph Perella	Dec 9, 2005	1,534,445 shares, last reported balance as of Apr 1, 2005
David Moser	Sep 12, 2005	19,115 shares, last reported balance as of Sep 8, 2005
Mitchell Merin	Sep 12, 2005	514,681 shares, last reported balance as of Sep 8, 2005
Jeffrey Small	Jul 28, 2005	No balance on record
Donald Kempf Jr.	Jul 8, 2005	178,498 shares, last reported balance as of Jul 6, 2005
Michael Uva	May 20, 2005	322,324 shares, last reported balance as of May 16, 2005
Tarek Abdel-Meguid	Apr 1, 2005	661,899 shares, last reported balance as of Mar 31, 2005
John Havens	Mar 23, 2005	1,399,470 shares, last reported balance as of Mar 21, 2005
John Jacob	Mar 17, 2005	17,059 shares, last reported balance as of Mar 15, 2005
Charles Knight	Mar 17, 2005	23,916 shares, last reported balance as of Mar 15, 2005
John Madigan	Mar 17, 2005	14,878 shares, last reported balance as of Mar 15, 2005
Miles Marsh	Mar 17, 2005	28,862 shares, last reported balance as of Mar 15, 2005
Michael Miles	Mar 17, 2005	65,624 shares, last reported balance as of Mar 15, 2005
John Schaefer	Jan 10, 2005	317,826 shares, last reported balance as of Jan 7, 2005
Philip Purcell	Jan 6, 2005	3,573,463 shares, last reported balance as of Jan 4, 2005
Stephan Newhouse	Jan 5, 2005	1,301,338 shares, last reported balance as of Jan 3, 2005
Alexander Frank	Dec 27, 2004	30,322 shares, last reported balance as of Dec 23, 2004
Vikram Pandit	Dec 16, 2004	1,878,266 shares, last reported balance as of Dec 14, 2004
Stephen Crawford	Dec 16, 2004	279,873 shares, last reported balance as of Dec 14, 2004
Robert Bauman	Apr 21, 2004	18,336 shares, last reported balance as of Apr 20, 2004
Robert Scott	Mar 24, 2004	2,348,362 shares, last reported balance as of Mar 22, 2004
Nobuyuki Hirano		No balance on record
Masaaki Tanaka		No balance on record
Ryosuke Tamakoshi		No balance on record
Takeshi Ogasawara		No balance on record
Hironori Kamezawa		No balance on record
Masato Miyachi		No balance on record
Yasushi Itagaki		No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Morgan Stanley insiders sold $68.2M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Outside holders, reported separately

Common questions

Is the Morgan Stanley CEO selling stock?

Why are Morgan Stanley insiders selling?

Are any Morgan Stanley insiders buying?

How much of their stake did Morgan Stanley insiders sell?

The evidence

No plan disclosed · $68.2M

Taxes

Sales by month