MORGAN STANLEY
For the period ended Jun 30, 2025. Filed Aug 4, 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.
Jun 30, 2025 · Filed Aug 4, 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 Authorization3,4 | Dollar Value of Remaining Authorized Repurchase |
|---|---|---|---|---|
| April | 3,015,086 | $113.33 | 2,091,800 | $17,266 |
| May | 3,601,541 | $124.81 | 3,577,700 | $16,819 |
| June | 2,457,692 | $130.52 | 2,445,799 | $16,500 |
| Three Months Ended June 30, 2025 | 9,074,319 | $122.54 | 8,115,299 |
Includes 959,021 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 June 30, 2025.
Excludes excise tax of $1 million levied on share repurchases, net of issuances, payable in April 2026.
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.
On July 1, 2025, 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”), without a set expiration date, beginning in the third quarter of 2025, which will be exercised from time to time as conditions warrant and is 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. For further information, see “Liquidity and Capital Resources—Regulatory Requirements—Capital Plans, Stress Tests and the Stress Capital Buffer.”
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