James P. Gorman, the chief executive of Morgan Stanley, gave away nearly $1 million worth of stock he owned in the bank last week.
Mr. Gorman disclosed the gift of more than 30,000 shares in a filing with the Securities and Exchange Commission on Tuesday. The filing did not say where the shares went.
Nearly all of the donated stock came from something called a “grantor retained annuity trust,†which is a tax-efficient vehicle from which people typically donate to charity or family. Mr. Gorman is left with 35,558 shares in the trust after last week’s transaction.
Mr. Gorman still owns more than a million shares of Morgan Stanley directly.
In 2011, when Morgan Stanley’s stock price fell to $20, Mr. Gorman tried to shore up investor confidence by purchasing 100,000 shares with $2 million of his own money. That investment had netted Mr. Gorman nearly $1 million on paper by the end of January, when the bank’s stock price reached $29.51.
Mr. Gorman, like other bank executives, also receives stock as part of his annual compensation package, and his equity award nearly doubled in 2013.
