Form 4: Morgan Stanley Chairman and CEO Edward Pick Reports Changes in Beneficial Ownership

Edward Pick, Chairman and CEO of Morgan Stanley, reports the acquisition and disposal of common stock related to performance stock units.

Summary

• On February 21, 2025, Edward Pick, Chairman and CEO of Morgan Stanley, filed a Form 4 detailing changes in his beneficial ownership of Morgan Stanley common stock.
• He acquired 124,351 shares of common stock related to the vesting of performance stock units (PSU Awards) granted on January 20, 2022, under the Morgan Stanley Long-Term Incentive Program.
• Simultaneously, he disposed of 68,835 shares to satisfy tax obligations associated with the conversion of these PSU Awards at a price of $134.34 per share.
• Following these transactions, Pick directly owns 670,818.72 shares of Morgan Stanley common stock.
• He also indirectly owns 181,976 shares through a Grantor Retained Annuity Trust and 4,189.078 shares through a 401(k) Plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of PSUs suggests the company met performance targets. The sale of shares to cover taxes is a normal part of the compensation process.

Positives

• The acquisition of shares indicates that the company met pre-established performance criteria, which is a positive signal.

Industry Context

Form 4 filings are standard practice for company insiders and provide transparency into their trading activities. This filing indicates transactions related to executive compensation.

Comparison to Industry Standards

• Executive compensation packages often include performance-based stock units, which vest upon achieving certain milestones.
• The tax withholding practices are standard across publicly traded companies to ensure compliance with tax regulations.
• Comparable companies such as Goldman Sachs, JP Morgan Chase, and Bank of America also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The vesting of PSU awards and subsequent tax-related share disposal has a minor impact on shareholders as it reflects the execution of the company's compensation plan.
• Employees who are part of the Long-Term Incentive Program are directly impacted by the vesting of these awards.

Key Dates

Keywords

Form 4, Beneficial Ownership, Morgan Stanley, Edward Pick, MS, PSU Awards, Common Stock, Long-Term Incentive Program