Form 4: Morgan Stanley CFO Reports Equity Compensation and Tax Withholding

Morgan Stanley CFO Sharon Yeshaya reported an RSU grant and subsequent tax-related share disposition, adjusting her direct beneficial ownership.

Summary

• Sharon Yeshaya, Chief Financial Officer of Morgan Stanley, reported two transactions on January 16, 2026.
• She acquired 36,965.47 shares of Common Stock in the form of Restricted Stock Units (RSUs) as part of her 2025 year-end compensation. These RSUs are convertible to shares of Common Stock at a 1:1 ratio and were granted at a price of $0.
• She disposed of 16,159 shares of Common Stock at a price of $191.23 per share. This disposition was to satisfy tax obligations upon the conversion of Restricted Stock Units originally granted on January 18, 2023.
• Following these reported transactions, Sharon Yeshaya directly beneficially owns 151,142.336 shares of Morgan Stanley Common Stock.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to executive compensation and tax withholding, which are neutral events in terms of company performance or outlook.

Positives

• The grant of 36,965.47 Restricted Stock Units indicates ongoing executive compensation, aligning management's interests with those of shareholders.

Negatives

• The disposition of 16,159 shares reduces the direct beneficial ownership of the CFO, although this was for tax purposes and is a routine event.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

The transactions reflect standard executive compensation practices within the financial services industry, where Restricted Stock Units are commonly used to incentivize and retain key personnel, with tax withholding being a routine part of the vesting process.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of executive compensation is a widespread practice across major financial institutions such as JPMorgan Chase, Goldman Sachs, and Bank of America.
• The mechanism of withholding shares to cover tax liabilities upon RSU vesting is a standard procedure, ensuring compliance with tax regulations for equity compensation, consistent with practices observed at peer companies.

Stakeholder Impact

• Shareholders: The RSU grant aligns management's interests with shareholders, while the tax withholding is a routine administrative event with minimal impact.
• Employees: Reflects standard executive compensation practices, which may influence broader compensation strategies within the company.

Key Dates

Keywords

Morgan Stanley, MS, Form 4, Insider Transaction, CFO, Equity Compensation, Restricted Stock Units, RSU, Stock Grant, Tax Withholding