News Corp director logs deferred stock awards

NEWS CORP director Lachlan K. Murdoch reported compensation-related deferred stock activity.

Rhea-AI Filing Summary

NEWS CORP director Lachlan K. Murdoch reported compensation-related deferred stock activity. He exercised 1,644 deferred stock units, which were deemed settled for the cash value of an equivalent number of Class A Common Stock shares, and received a grant of 1,972 additional deferred stock units at $24.71 per unit.

Each deferred stock unit represents the equivalent of one Class A Common Stock share and becomes payable in cash on the first trading day of the quarter five years after grant or upon his end of service as a director. After these changes, he holds 114 Class A Common Stock shares directly and an aggregate 40,892 deferred stock units payable in cash under these terms.

Insider Trade Summary

1,644 shares exercised/converted

Exercise 4 txns

Insider MURDOCH LACHLAN K

Role Director

Type	Security	Shares	Price	Value
Exercise	Deferred Stock Units	1,644	$0.00	$0.00
Grant/Award	Deferred Stock Units	1,972	$24.71	$49K
Exercise	Class A Common Stock	1,644	$0.00	$0.00
Disposition	Class A Common Stock	1,644	$24.71	$41K

Holdings After Transaction: Deferred Stock Units — 40,892 contracts (Direct); Class A Common Stock — 114 shares (Direct)

Footnotes (5)

1. F1. The deferred stock units were deemed to have settled for the cash value of an equivalent number of shares of News Corporation's Class A Common Stock.
2. F2. Each deferred stock unit represents the equivalent of one share of News Corporation's Class A Common Stock.
3. F3. The deferred stock units became payable in cash on April 1, 2026, the first trading day of the quarter five years following the grant.
4. F4. Represents the aggregate number of deferred stock units held by the Reporting Person, including deferred stock units accrued as a result of dividend equivalents that vest on the same terms as the respective underlying deferred stock units. The reported deferred stock units become payable in cash on the earlier of (i) the first trading day of the quarter five years following the respective grant and (ii) the Reporting Person's end of service as a Director.
5. F5. The deferred stock units become payable in cash 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.

Key Figures

Deferred stock units exercised: 1,644 units New deferred stock unit grant: 1,972 units at $24.71 Deferred stock units held: 40,892 units +2 more

5 metrics

Deferred stock units exercised 1,644 units Exercise or conversion of deferred stock units on April 1, 2026

New deferred stock unit grant 1,972 units at $24.71 Grant of deferred stock units representing Class A Common Stock

Deferred stock units held 40,892 units Aggregate deferred stock units after transactions, payable in cash

Class A shares held 114 shares Direct News Corp Class A Common Stock position after disposition

Disposition price $24.71 per share Price used for Class A Common Stock disposition to issuer

Key Terms

Deferred Stock Units, dividend equivalents, Disposition to issuer, Class A Common Stock, +1 more

5 terms

Deferred Stock Units financial

"The deferred stock units were deemed to have settled for the cash value of an equivalent number of shares"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

dividend equivalents financial

"including deferred stock units accrued as a result of dividend equivalents that vest on the same terms"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Disposition to issuer financial

"transaction_code_description: Disposition to issuer"

Class A Common Stock financial

"Each deferred stock unit represents the equivalent of one share of News Corporation's Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

first trading day of the quarter financial

"become payable in cash on the earlier of (i) the first trading day of the quarter five years following the respective grant"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Lachlan K. Murdoch report at News Corp (NWS)?

Lachlan K. Murdoch reported exercising 1,644 deferred stock units and receiving a grant of 1,972 new deferred stock units, each linked to News Corp Class A Common Stock and valued using $24.71 per share for the grant and related share disposition.

How many News Corp deferred stock units does Lachlan K. Murdoch now hold?

Following the reported transactions, Lachlan K. Murdoch holds an aggregate 40,892 deferred stock units. These units are tied to News Corp Class A Common Stock equivalents and are ultimately settled in cash under the timing and service conditions described for the director awards.

When do Lachlan K. Murdoch’s deferred stock units at News Corp (NWS) become payable?

The deferred stock units become payable in cash on the earlier of the first trading day of the quarter five years following the respective grant, or the end of Lachlan K. Murdoch’s service as a director, according to the award terms disclosed for these units.

What happened to the 1,644 News Corp Class A shares in Lachlan K. Murdoch’s Form 4?

Murdoch acquired 1,644 News Corp Class A Common Stock shares through a derivative exercise and then disposed of those 1,644 shares to the issuer at $24.71 per share, leaving him with 114 Class A Common Stock shares held directly afterward.

How are News Corp (NWS) deferred stock units linked to Class A Common Stock?

Each News Corp deferred stock unit represents the equivalent of one share of Class A Common Stock. However, the units are structured to be settled in cash based on that share equivalence, rather than delivering actual shares upon payment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 04:13 PM EDT Learn about SEC filing dates

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
Estimated average burden
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 LACHLAN K

(Last) (First) (Middle)

C/O NEWS CORPORATION

1211 AVENUE OF THE AMERICAS

(Street)

NEW YORK NEW YORK 10036

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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

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

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

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	04/01/2026		M		1,644	A	(1)	1,758	D
Class A Common Stock	04/01/2026		D		1,644	D	$24.71	114	D

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	(2)	04/01/2026		M			1,644	(3)	(3)	Class A Common Stock	1,644	(1)	38,920(4)	D
Deferred Stock Units	(2)	04/01/2026		A		1,972		(5)	(5)	Class A Common Stock	1,972	$24.71	40,892(4)	D

Explanation of Responses:

1. The deferred stock units were deemed to have settled for the cash value of an equivalent number of shares of News Corporation's Class A Common Stock.

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

3. The deferred stock units became payable in cash on April 1, 2026, the first trading day of the quarter five years following the grant.

4. Represents the aggregate number of deferred stock units held by the Reporting Person, including deferred stock units accrued as a result of dividend equivalents that vest on the same terms as the respective underlying deferred stock units. The reported deferred stock units become payable in cash on the earlier of (i) the first trading day of the quarter five years following the respective grant and (ii) the Reporting Person's end of service as a Director.

5. The deferred stock units become payable in cash 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.

Remarks:

	/s/ Kenneth C. Mertz as Attorney-in-Fact for Lachlan K. Murdoch	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)