FOXA Form 4: Murdoch Vesting Events, Partial Sales at $59.89

Rhea-AI Filing Summary

Lachlan K. Murdoch, Executive Chair and CEO of Fox Corporation (FOXA), reported multiple equity award transactions dated 08/15/2025. The filing shows a series of restricted stock unit and performance stock unit vestings and accompanying disposals. Specific entries list acquisitions (code M) of 58,208; 56,538; 54,403; and 172,859 units, and disposals (code F) of 28,395; 27,509; 26,408; and 84,324 shares at a price of $59.89 per share for the F-coded transactions. Following these transactions, Mr. Murdoch directly holds disclosed Class A shares totaling 259,848 and indirectly holds 1,076,407 Class A shares through the LKM Family Trust. The filing is signed by an attorney-in-fact on 08/19/2025.

Positive

• Clear disclosure of restricted stock unit and performance stock unit vesting dates and quantities
• Reported price for F-coded disposals is provided ($59.89), improving transparency
• Indirect holdings disclosed (1,076,407 shares via LKM Family Trust), clarifying related-party ownership

Negative

• Multiple disposals (F-coded) occurred the same day as vesting, reducing direct share retention
• Form shows substantial indirect ownership that may concentrate control, though no further detail on voting arrangements is provided

Insights

Financial Analyst

TL;DR: Routine executive equity vesting with partial sales at $59.89; net direct holdings increased but substantial indirect ownership remains via family trust.

The Form 4 documents scheduled vesting events and related transactions on 08/15/2025. Several restricted stock unit and performance stock unit awards vested (aggregating reported acquisitions), while contemporaneous F-coded disposals occurred at a reported price of $59.89 per share. Net direct beneficial ownership as reported rose to 259,848 Class A shares; indirect ownership of 1,076,407 shares is held through the LKM Family Trust. These entries appear to reflect award vesting mechanics and partial share dispositions rather than unusual open-market purchases or novel grants.

Corporate Governance Expert

TL;DR: The filing shows standard executive compensation vesting and required Section 16 reporting; disclosures are complete and signed by attorney-in-fact.

The report lists multiple vesting tranches for restricted and performance stock units with accompanying reporting of acquisitions and sales. Vesting schedules are explicitly described in the explanations. The presence of both direct and indirect holdings is clearly disclosed, including the LKM Family Trust. The form includes an authorized signature and follows Section 16 reporting format, indicating compliance with insider reporting obligations.

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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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 LACHLAN K

(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
X	Officer (give title below)		Other (specify below)
	Executive Chair, CEO

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		58,208	A	(1)	58,360	D
Class A Common Stock	08/15/2025		F		28,395	D	$59.89	29,965	D
Class A Common Stock	08/15/2025		M		56,538	A	(1)	86,503	D
Class A Common Stock	08/15/2025		F		27,509	D	$59.89	58,994	D
Class A Common Stock	08/15/2025		M		54,403	A	(1)	113,397	D
Class A Common Stock	08/15/2025		F		26,408	D	$59.89	86,989	D
Class A Common Stock	08/15/2025		M		172,859	A	(1)	259,848	D
Class A Common Stock	08/15/2025		F		84,324	D	$59.89	175,524	D
Class A Common Stock								1,076,407	I	By LKM Family 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
Restricted Stock Units	(1)	08/15/2025		M			58,208	(2)	(2)	Class A Common Stock	58,208	$0	0	D
Restricted Stock Units	(1)	08/15/2025		M			56,538	(3)	(3)	Class A Common Stock	56,538	$0	56,544	D
Restricted Stock Units	(1)	08/15/2025		M			54,403	(4)	(4)	Class A Common Stock	54,403	$0	108,812	D
Performance Stock Units	(1)	08/15/2025		M			172,859	08/15/2025	08/15/2025	Class A Common Stock	172,859	$0	0	D

Explanation of Responses:

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

2. The restricted stock units vested one-third on August 15, 2023, one-third on August 15, 2024 and the remainder of the award vested on August 15, 2025.

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. 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.

Remarks:

	/s/ Laura A. Cleveland as Attorney-in-Fact for Lachlan K. 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.
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FAQ

What transactions did Lachlan K. Murdoch report on Form 4 for FOXA?

The Form 4 reports acquisitions from vesting of restricted stock units and performance stock units on 08/15/2025 and contemporaneous disposals (F-coded) at $59.89 per share.

How many Class A shares does Murdoch directly and indirectly own after these transactions?

The filing reports 259,848 Class A shares beneficially owned directly and 1,076,407 Class A shares indirectly beneficially owned through the LKM Family Trust.

What award types vested according to the filing?

The filing indicates vesting of Restricted Stock Units and Performance Stock Units, each representing one share of Class A Common Stock per unit.

When did the reported transactions occur and when was the Form 4 signed?

The transactions are dated 08/15/2025 and the Form 4 was signed by Laura A. Cleveland as attorney-in-fact on 08/19/2025.

What price were the F-coded disposals executed at?

The F-coded disposals listed in the Form 4 show a price of $59.89 per share.