Andrew M. Saperstein - Aug 10, 2022 Form 4 Insider Report for MORGAN STANLEY (MS)

Role
Co-President/Head of WM
Signature
/s/ Martin M. Cohen, Attorney-in-Fact
Stock symbol
MS
Transactions as of
Aug 10, 2022
Transactions value $
$0
Form type
4
Date filed
8/12/2022, 04:16 PM
Previous filing
Jul 21, 2022
Next filing
Jan 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MS Common Stock Other -30.5K -39.76% 46.2K Aug 10, 2022 By LLC F1, F2, F3
holding MS Common Stock 180K Aug 10, 2022 Direct
holding MS Common Stock 1.17K Aug 10, 2022 By 401(k) Plan
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As part of his estate planning, the Reporting Person transferred 46,226 shares of Common Stock (previously reported as direct ownership) to a limited liability company, of which he was the sole member and a manager (the "LLC"), and the shares of Common Stock are the sole asset. On August 10, 2022, the Reporting Person transferred 66% of his LLC membership interest to an irrevocable family trust (the "Trust"). The Reporting Person may be deemed to beneficially own the assets of the Trust, and as such, is continuing to report on this Form 4 all of the shares of Common Stock held by the LLC.
F2 The LLC membership interest was transferred to the Trust at an aggregate price of $1,783,651, which is based on the average of the high and low share price of the Common Stock on August 10, 2022, discounted to reflect the illiquid nature of the membership interest in the LLC.
F3 The Reporting Person disclaims beneficial ownership of all shares held by the LLC and reported on this Form 4 except to the extent of the Reporting Person's pecuniary interests therein.