SCHAPIRO MARY L 4

What Happened

• Mary L. Schapiro, a director of Morgan Stanley (MS), was granted 1,309.777 restricted stock units (RSUs) on 2026-06-01. The filing shows an acquisition at $0.00 per unit (total reported value $0) under transaction code A (award/grant).
• These RSUs are convertible into common stock on a 1-for-1 basis under the Morgan Stanley Directors' Equity Capital Accumulation Plan (see footnote). This is an equity award (compensation), not an open-market purchase or sale.

Key Details

• Date and price: 2026-06-01; 1,309.777 RSUs at $0.00 per unit.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote: RSUs granted under the Morgan Stanley Directors' Equity Capital Accumulation Plan, convertible into common stock at a ratio of 1 to 1.
• Filing timeliness: Form 4 was filed 2026-06-02; this appears to be timely (insiders must generally file within two business days).

Context

• RSU grants to directors are a common form of compensation and typically vest over time or convert to stock according to plan terms; the filing does not provide vesting or conversion timing. Such awards are not an immediate market purchase or sale and should be interpreted as compensation rather than a direct trading signal.