[Form 4] Fox Corporation Insider Trading Activity

Rhea-AI Filing Summary

Keith Rupert Murdoch reported multiple transactions in Fox Corporation (FOXA) securities dated 08/15/2025. The filing shows 110,002 performance stock units were treated as acquired and settled into 110,002 Class A shares. Separately, 62,991 Class A shares were disposed of at $59.89, leaving 47,011 Class A shares owned after the sale. The report also lists 13,121 Class A shares held indirectly through the K. Rupert Murdoch 2004 Revocable Trust.

The Form 4 was signed by an attorney-in-fact on behalf of Mr. Murdoch on 08/19/2025. All figures above are taken directly from the filing and describe the nature and quantity of the security transactions reported.

Positive

• 110,002 performance stock units were converted into 110,002 Class A shares, reflecting vesting/settlement of equity awards
• Full transaction details are reported, including quantities, prices, and indirect holdings, satisfying Section 16 disclosure requirements

Negative

• 62,991 Class A shares were sold at $59.89, reducing direct beneficial ownership to 47,011 shares
• Report was filed by attorney-in-fact rather than the reporting person personally (signed 08/19/2025 by Laura A. Cleveland)

Insights

Financial Analyst

TL;DR: Insider vested performance units and executed partial share disposals; overall impact appears routine and non-material to company capital structure.

Mr. Murdoch received 110,002 performance stock units which converted to the same number of Class A shares, and sold 62,991 shares at $59.89 each, leaving 47,011 shares directly owned post-transaction. The filing does not show any change to outstanding shares or company-level financing. These are personal insider transactions disclosed under Section 16 rather than corporate actions that change Fox Corp's reported financials.

Corporate Governance Expert

TL;DR: Transactions appear to be standard Section 16 disclosures: vesting and a sale executed and reported by attorney-in-fact.

The Form 4 identifies the reporter as Chairman Emeritus and notes an attorney-in-fact signature. The filing documents vesting of performance stock units and a contemporaneous sale of shares. There is no indication of policy violations or material governance events; the disclosure meets the reporting requirement for insider changes in beneficial ownership.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MURDOCH KEITH RUPERT

(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
	Officer (give title below)	X	Other (specify below)
			Chairman Emeritus

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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
Class A Common Stock	08/15/2025		M		110,002	A	(1)	110,002	D
Class A Common Stock	08/15/2025		F		62,991	D	$59.89	47,011	D
Class A Common Stock								13,121	I	By K. Rupert Murdoch 2004 Revocable Trust

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
Performance Stock Units	(1)	08/15/2025		M			110,002	08/15/2025	08/15/2025	Class A Common Stock	110,002	$0	0	D

Explanation of Responses:

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

Remarks:

	/s/ Laura A. Cleveland as Attorney-in-Fact for Keith Rupert Murdoch	08/19/2025
	** 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 transactions did Keith Rupert Murdoch report for FOXA on 08/15/2025?

The filing shows 110,002 performance stock units were converted into 110,002 Class A shares and 62,991 Class A shares were sold at $59.89 each.

How many Class A shares does Mr. Murdoch own directly after the reported transactions?

The Form 4 reports 47,011 direct Class A shares owned following the sale.

Are there any indirect holdings disclosed for Keith Rupert Murdoch in this filing?

Yes. The filing lists 13,121 Class A shares held indirectly via the K. Rupert Murdoch 2004 Revocable Trust.

At what price were the shares sold according to the Form 4?

The disposed 62,991 Class A shares were sold at $59.89 per share, per the filing.

Who signed the Form 4 reporting these transactions?

The Form 4 was signed by Laura A. Cleveland as Attorney-in-Fact for Keith Rupert Murdoch on 08/19/2025.

Do these transactions indicate any corporate-level financing or major corporate action?

No. The Form 4 discloses insider vesting and share dispositions by an individual and does not show company financing or changes to Fox Corp's capital structure.