NWS Chief Technology Officer reports 65 RSU grants totaling 18,272 shares

Rhea-AI Filing Summary

News Corporation (NWS) Form 4: An officer, Julian Delany (Chief Technology Officer), reported acquisitions of restricted stock units on 10/08/2025.

The filing shows three grants: two cash-settled restricted stock units of 13 and 21 units and one stock-settled restricted stock unit of 31, each with an attached dividend-equivalent component. Each unit is the economic equivalent of one share and the reported per-share price is $27.38. Following these transactions, the filing reports a total of 18,272 Class A shares beneficially owned by the reporting person.

Positive

• Alignment of interests: Officer increased equity exposure with 65 RSUs, aligning management and shareholder incentives
• Clear reporting: Form 4 discloses per-unit price $27.38 and aggregated beneficial ownership of 18,272 Class A shares

Negative

• None.

Insights

Corporate Governance Analyst

Officer received equity awards that increase executive ownership and align incentives.

The reported acquisitions consist of 65 restricted stock units in aggregate across cash-settled and stock-settled grants, with a stated per-unit price of $27.38. These awards include dividend equivalents that are payable in cash or shares upon vesting, which is a common executive compensation feature designed to preserve economic parity with shareholders.

Key dependencies are vesting schedules and potential dilution from share-settled units; monitor reported vesting events and any related insider sales over the next 12–24 months for changes in ownership or liquidity events.

Compensation & Tax Specialist

The mix of cash- and stock-settled RSUs affects cash flow and tax timing for the officer and the company.

Cash-settled units crystallize as cash obligations when vesting occurs, while stock-settled units increase outstanding share count on settlement. The filing explicitly notes dividend equivalents payable in cash for cash-settled units and in shares for stock-settled units, which changes the company's post-settlement cash or equity position.

Watch for the vesting schedule and subsequent Form 4 entries that record actual settlements or dispositions; these will determine near-term cash payouts and the dilution impact on existing shareholders within the following fiscal year.

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^*

Delany Julian

(Last) (First) (Middle)

C/O NEWS CORPORATION

1211 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEWS CORP [ NWS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025

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
Cash-Settled Restricted Stock Units	(1)	10/08/2025		A		13		(2)	(2)	Class A Common Stock	13	$27.38	3,662	D
Cash-Settled Restricted Stock Units	(1)	10/08/2025		A		21		(2)	(2)	Class A Common Stock	21	$27.38	6,023	D
Stock-Settled Restricted Stock Units	(3)	10/08/2025		A		31		(4)	(4)	Class A Common Stock	31	$27.38	8,587	D

Explanation of Responses:

1. Each cash-settled restricted stock unit is the economic equivalent of one share of News Corporation Class A Common Stock.

2. Represents dividend equivalents accrued with respect to cash-settled restricted stock units previously granted, which become payable in cash upon vesting of the underlying cash-settled restricted stock units.

3. Each stock-settled restricted stock unit is the economic equivalent of one share of News Corporation Class A Common Stock.

4. Represents dividend equivalents accrued with respect to stock-settled restricted stock units previously granted, which become payable in shares upon vesting of the underlying stock-settled restricted stock units.

Remarks:

	/s/ Kenneth C. Mertz as Attorney-in-Fact for Julian Delany	10/10/2025
	** 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 News Corp insider Julian Delany report on Form 4 (NWS)?

The filing reports acquisitions of restricted stock units totaling 65 units on 10/08/2025, split between cash-settled (13 and 21 units) and stock-settled (31 units).

How many Class A shares does the reporting person beneficially own after the transaction?

The Form 4 shows 18,272 shares of Class A Common Stock beneficially owned following the reported transactions.

What price is listed for the restricted stock units on the Form 4?

Each unit is reported with a per-share price of $27.38.

What is the difference between cash-settled and stock-settled RSUs reported?

Cash-settled RSUs pay their economic value in cash at vesting; stock-settled RSUs are paid in shares. The filing notes dividend equivalents payable in cash for cash-settled units and in shares for stock-settled units.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by an attorney-in-fact, Kenneth C. Mertz, on 10/10/2025.