Rep. Michael A. Rulli (R-OH) took 183 days to report one of his Microsoft trades, more than four times the 45-day window the STOCK Act allows. The filing, made public this week, covers three transactions in MSFT between February and June 2026.
The slowest trade, a sell executed on June 25, was disclosed only this month. That delay is the longest in Rulli's 32 career trades, according to a review of House disclosure records.
The Trades
| Date | Type | Amount | Owner |
|---|---|---|---|
| Feb 5, 2026 | Buy | $1K–$15K | Self |
| Feb 20, 2026 | Sell | $1K–$15K | Self |
| Jun 25, 2026 | Sell | $1K–$15K | Self |
Total value: roughly $24,000. The stock traded at $506.06 on the NASDAQ, within its 52-week range of $349.20 to $553.72.
Why the Delay Matters
The STOCK Act, passed in 2012, requires lawmakers to report trades within 45 days. Rulli's June sale missed that deadline by 138 days. Late filings are common but rarely this slow; the median delay for congressional trades in 2025 was 38 days, according to a latest congressional trades analysis.
Rulli sits on the House Energy and Commerce Committee, which has jurisdiction over technology and data privacy issues that affect Microsoft directly. He also serves on the Education and Workforce Committee. His committee assignments overlap with Microsoft's lobbying priorities, which included cloud computing and AI regulation in 2026.
Other lawmakers have traded MSFT heavily this year. A total of 172 members reported transactions in the stock, making it one of the most popular holdings on Capitol Hill. But Rulli's filing stands out for the length of the delay, not the size of the trades.
This is not Rulli's first late report. His career average disclosure lag is 61 days, above the legal limit. The June 25 sale is his slowest yet.
The disclosure does not allege wrongdoing. It simply records that the trades happened and that the report arrived late. The House Ethics Committee has not commented on the filing.