Hutham Olayan (Director since 2006) purchased 25,000 shares on November 12th at $55.40, spending $1.4m and increasing her holdings to 218,478 shares. This is Olayan’s third open market buy since joining the board 14 years ago and is by far her largest. Her last purchase was in 2011 at $20. We were also intrigued to see a transfer-in of 3,129 MS shares to her holdings in October from the E-Trade acquisition, for which she must have owned shares. This is an interesting large purchase from her soon after that E-Trade acquisition. We are ranking the stock +1.