Andrew M. Saperstein, Co-President of Morgan Stanley (MS), has demonstrated a consistent pattern of selling activity in the company’s stock over the past two years, with no recorded purchases. Since February 2024, Saperstein has executed 29 transactions—all sales—totaling over $51.3 million in value. His most recent disposals include a $4.33 million sale on March 12, 2026, following a $4.76 million transaction on February 19, 2026, both classified as derivative dispositions (Code F). Earlier in January 2026, he sold nearly $6.5 million worth of shares across multiple transactions, including a single-day cluster of six sales totaling over $6.4 million on January 20.
The transactions reveal a recurring cadence of sales, often concentrated around quarterly periods. For instance, in January 2025, Saperstein sold approximately $4.2 million in shares, followed by a $6.56 million derivative disposition in February of that year. The largest single transaction occurred on February 21, 2025, when he disposed of $6.56 million in stock. While derivative transactions (Code F) dominate the higher-value sales, open-market disposals (Code S) are frequent but typically smaller in scale, such as the $93,298 and $687,871 sales on January 20, 2026. The absence of any buys suggests a sustained reduction in his equity exposure to Morgan Stanley, though the reasons remain undisclosed in regulatory filings.
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