MORGAN STANLEY
For the period ended Mar 31, 2025. Filed May 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 5, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
| $ in millions, except per share data | Total Number of Shares Purchased1 | Average Price Paid per Share2 | Total Shares Purchased as Part of Share Repurchase Authorization2,3 | Dollar Value of Remaining Authorized Repurchase |
|---|---|---|---|---|
| January | 7,818,953 | $136.00 | 1,115,300 | $18,347 |
| February | 3,124,925 | $135.90 | 2,378,100 | $18,023 |
| March | 4,594,211 | $117.94 | 4,450,384 | $17,500 |
| Three Months Ended March 31, 2025 | 15,538,089 | $130.64 | 7,943,784 |
Includes 7,594,305 shares acquired by the Firm in satisfaction of the tax withholding obligations on stock-based awards granted under the Firm’s stock-based compensation plans during the three months ended March 31, 2025.
Share purchases under publicly announced authorizations are made pursuant to open-market purchases, Rule 10b5-1 plans or privately negotiated transactions (including with employee benefit plans) as market conditions warrant and at prices the Firm deems appropriate and may be suspended at any time.
The Firm announced that its Board of Directors reauthorized a multi-year repurchase authorization of up to $20 billion of outstanding common stock (the “Share Repurchase Authorization”) from time to time as conditions warrant and subject to limitations on distributions from the Federal Reserve. The Share Repurchase Authorization is for capital management purposes and considers, among other things, business segment capital needs, as well as equity-based compensation and benefit plan requirements. The Share Repurchase Authorization has no set expiration or termination date.
On June 28, 2024, the Firm announced that its Board of Directors reauthorized a multi-year repurchase authorization of up to $20 billion of outstanding common stock, without a set expiration date, beginning in the third quarter of 2024, which will be exercised from time to time as conditions
warrant. For further information, see “Liquidity and Capital Resources—Regulatory Requirements—Capital Plans, Stress Tests and the Stress Capital Buffer.”
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