[Form 4] Fox Corp Insider Trading Activity

Rhea-AI Filing Summary

William A. Burck, a director of Fox Corporation (FOX), reported an acquisition of deferred stock units on 09/24/2025. The Form 4 shows 116 deferred stock units were acquired as dividend equivalents tied to Fox Class A common stock, recorded at a reference price of $60.16 per share. Each deferred stock unit equals one share of Class A common stock, and the reported units become payable in stock either five years after grant or upon the reporting person's end of service as a director. After this activity, the reporting person beneficially owns 25,595 shares (including these units).

Positive

• 116 deferred stock units acquired as dividend equivalents on 09/24/2025
• Each deferred stock unit equals one Class A common share, clarifying payout conversion
• Beneficial ownership increased to 25,595 shares following the reported transaction

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received 116 deferred stock units payable in stock, increasing beneficial ownership to 25,595 shares.

The Form 4 discloses a routine grant of deferred stock units to William A. Burck on 09/24/2025, recorded as dividend equivalents. Each unit converts to one Class A share and vests for payout on the earlier of five years after grant or the director's end of service. This is a standard director compensation mechanism aligning long-term interests with shareholders without immediate stock transfer. The filing is informational and does not indicate any change in control, sale, or exercise activity.

Securities Analyst

TL;DR: Transaction is administrative compensation; no exercised options or dispositions reported.

The table shows a non-derivative acquisition labeled as deferred stock units (116) representing dividend equivalents, with a reported reference price of $60.16 and aggregate beneficial ownership of 25,595 shares following the grant. The units are payable in stock under specified timing conditions. The Form 4 contains no sales, dispositions, or derivative exercises by the reporting person on the reported date.

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

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

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^*

Burck William A

(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)

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

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
Deferred Stock Units	(1)	09/24/2025		A		116(2)		(3)	(3)	Class A Common Stock	116	$60.16	25,595(4)	D

Explanation of Responses:

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

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

3. The deferred stock units representing dividend equivalents become payable in stock upon the pay out of the underlying deferred stock units. The reported deferred stock units become payable on the earlier of (i) the first trading day of the quarter five years following the grant and (ii) the Reporting Person's end of service as a Director.

4. Represents the aggregate number of deferred stock units held by the Reporting Person, including dividend equivalents accrued that vest on the same terms as the respective underlying deferred stock units.

Remarks:

	/s/ Laura A. Cleveland as Attorney-in-Fact for William A. Burck	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 William A. Burck report on Form 4 for FOX?

He reported acquiring 116 deferred stock units (dividend equivalents) related to Fox Class A common stock on 09/24/2025.

How many shares does William A. Burck beneficially own after the reported transaction?

25,595 shares beneficially owned following the acquisition reported on the Form 4.

When are the deferred stock units payable to the reporting person?

Payable in stock on the earlier of the first trading day of the quarter five years after the grant or the reporting person's end of service as a director.

What is the reported reference price for the deferred stock units?

$60.16 per share is shown in the Form 4 reporting for the units.

Does the Form 4 show any sales or dispositions by the reporting person?

No; the filing shows only an acquisition of deferred stock units and no dispositions or derivative exercises.