Mitsubishi UFJ Sells $111.1M in Morgan Stanley Shares Back to Issuer

Executive Summary

On November 2, 2026, Mitsubishi UFJ Financial Group Inc (MUFG), a 10% beneficial owner and director by deputization of Morgan Stanley ($MS), reported the disposition of 604,396 shares of Common Stock directly to Morgan Stanley on October 29, 2026. The transaction was executed at a price of $183.8380 per share, totaling approximately $111.11 million.

Transaction Details

• Security: Common Stock
• Transaction Code: D (Disposition to the issuer under Rule 16b-3(e))
• Volume: 604,396 shares
• Price per Share: $183.8380
• Gross Proceeds: $111,110,951.85
• Post-Transaction Beneficial Ownership: 374,725,856 shares
• Ownership Type: Direct

Strategic Context and Plan Structure

According to the footnotes accompanying the filing:

1. Director by Deputization: MUFG holds the right to appoint two directors to Morgan Stanley's Board of Directors, qualifying it as a director by deputization.
2. Programmatic Sale to Issuer: The shares were sold directly to Morgan Stanley under an ongoing share repurchase arrangement approved pursuant to Rule 16b-3(e) and executed under a Rule 10b5-1 trading plan adopted on April 18, 2018.

Such transactions are standard between MUFG and Morgan Stanley to manage MUFG's equity stake proportionally alongside Morgan Stanley's ongoing share repurchase programs.

Market Impact & Significance

While the dollar value of the disposition is substantial ($111.11M), the trading significance is rated Medium. The transaction is pre-scheduled, programmatic, and executed directly back to the issuer under a long-standing 10b5-1 plan rather than sold into the open market. MUFG retains an immense stake of over 374.7 million shares in Morgan Stanley.