[Form 4] Fox Corp Insider Trading Activity

Rhea-AI Filing Summary

Steven Tomsic, Chief Financial Officer of Fox Corporation (FOX), reported acquisitions of restricted stock units (RSUs) effective 09/24/2025. The Form 4 shows three RSU entries acquired as dividend equivalents (71, 138 and 126 RSUs) with a $0 price, increasing his post-transaction holdings to 15,495, 29,815 and 27,388 RSUs for the respective grants. The filing clarifies each RSU equals one share of Class A Common Stock and details vesting schedules for the grants, including partial vesting that occurred on August 15, 2024 and 2025 and future vesting through 2028. The Form 4 was signed by an attorney-in-fact on 09/25/2025.

Positive

• Increased equity alignment: The CFO acquired additional RSUs, aligning his compensation with shareholder interests through equity-based awards.
• Clear vesting schedule disclosed: The filing provides specific vesting timelines for each grant, enhancing transparency.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider acquisition of dividend-equivalent RSUs by the CFO, consistent with ongoing equity compensation.

The filing documents non-derivative acquisitions of RSUs resulting from dividend equivalents, not open-market purchases or sales. These entries increase reported beneficial ownership measured in RSUs and follow predetermined vesting schedules. This is a common outcome of equity compensation plans and raises no immediate governance concerns given transparent reporting and detailed vesting terms. Impact on outstanding shares is indirect until RSUs convert to shares upon vesting.

Compensation Analyst

TL;DR: Dividend-equivalent RSUs were added to the CFO's holdings; vesting timelines span 2024–2028.

The reported amounts (71, 138, 126 RSUs) reflect accrued dividend equivalents granted with $0 acquisition price and specific vesting tranches: one-third vested August 15 of stated years with remaining tranches through 2028. These details clarify timing for potential dilution and future share issuance tied to compensation programs but do not indicate additional cash-based compensation or unusual awards.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Tomsic Steven

(Last) (First) (Middle)

C/O FOX CORPORATION

1211 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fox Corp [ FOX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	09/24/2025		A		71(2)		(3)	(3)	Class A Common Stock	71	$0	15,495(4)	D
Restricted Stock Units	(1)	09/24/2025		A		138(2)		(5)	(5)	Class A Common Stock	138	$0	29,815(4)	D
Restricted Stock Units	(1)	09/24/2025		A		126(2)		(6)	(6)	Class A Common Stock	126	$0	27,388(4)	D

Explanation of Responses:

1. Each restricted stock unit represents the equivalent of one share of Fox Corporation's Class A Common Stock.

2. Represents dividend equivalents accrued with respect to restricted stock units.

3. The restricted stock units vested one-third on August 15, 2024, one-third on August 15, 2025 and the remainder of the award will vest on August 15, 2026.

4. Represents the aggregate number of restricted stock units with respect to a specific grant that are held by the Reporting Person, including dividend equivalents accrued that vest on the same terms as the respective underlying restricted stock units.

5. The restricted stock units vested one-third on August 15, 2025, will vest one-third on August 15, 2026 and the remainder of the award will vest on August 15, 2027.

6. The restricted stock units will vest one-third on each of August 15, 2026, August 15, 2027 and August 15, 2028.

Remarks:

	/s/ Laura A. Cleveland as Attorney-in-Fact for Steven Tomsic	09/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Steven Tomsic report on the Form 4 for FOX?

The Form 4 reports acquisitions of restricted stock units (RSUs) effective 09/24/2025: 71, 138, and 126 RSUs acquired as dividend equivalents at a $0 price.

What is Steven Tomsic's role at Fox Corporation as stated on the filing?

The filing lists Steven Tomsic as an Officer with the title Chief Financial Officer.

How many RSUs does Tomsic hold after the reported transactions?

Post-transaction beneficial holdings are reported as 15,495, 29,815, and 27,388 RSUs for the respective grants.

When do the reported RSU grants vest?

Vesting schedules vary by grant: one-third vested on August 15, 2024 (for one grant) or August 15, 2025 (for another), with remaining tranches vesting annually through 2026–2028 depending on the grant.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Laura A. Cleveland as attorney-in-fact for Steven Tomsic on 09/25/2025.