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NEWS CORP (NWS) director Jose Maria Aznar reports cash-settled deferred stock unit activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

NEWS CORP director Jose Maria Aznar reported compensation-related equity movements involving Class A Common Stock and deferred stock units.

He exercised 1,747 deferred stock units into an equivalent number of Class A shares and an equal 1,747 shares were disposed to the issuer at a reference price of $25.78, leaving him with 1,087 Class A shares held directly. He also received a grant of 1,891 deferred stock units, and after the exercise and new grant, he held 39,296 deferred stock units in total. Each deferred stock unit represents the cash value of one Class A share and becomes payable in cash on a schedule tied to the grant date or the end of his board service.

Positive

  • None.

Negative

  • None.
Insider AZNAR JOSE MARIA
Role null
Type Security Shares Price Value
Exercise Deferred Stock Units 1,747 $0.00 --
Grant/Award Deferred Stock Units 1,891 $25.78 $49K
Exercise Class A Common Stock 1,747 $0.00 --
Disposition Class A Common Stock 1,747 $25.78 $45K
Holdings After Transaction: Deferred Stock Units — 39,296 shares (Direct, null); Class A Common Stock — 2,834 shares (Direct, null)
Footnotes (1)
  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. Each deferred stock unit represents the equivalent of one share of News Corporation's Class A Common Stock. The deferred stock units became payable in cash on July 1, 2026, the first trading day of the quarter five years following the grant. 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. 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.
Shares disposed to issuer 1,747 shares Class A Common Stock disposition to issuer at $25.78
Reference price per share $25.78 Used for Class A disposition and deferred stock unit grant
Shares following common stock transactions 1,087 shares Class A Common Stock held directly after reported transactions
Deferred stock units granted 1,891 units New deferred stock unit award to director
Deferred stock units exercised 1,747 units Converted into Class A Common Stock
Deferred stock units outstanding 39,296 units Total deferred stock units held after grant and exercise
Net buy/sell shares 0 shares transactionSummary netBuySellShares indicates neutral net share change
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.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
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.
payable in cash financial
"The deferred stock units became payable in cash on July 1, 2026"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
AZNAR JOSE MARIA
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock07/01/2026M1,747A(1)2,834D
Class A Common Stock07/01/2026D1,747D$25.781,087D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Deferred Stock Units(2)07/01/2026M1,747 (3) (3)Class A Common Stock1,747(1)39,296(4)D
Deferred Stock Units(2)07/01/2026A1,891 (5) (5)Class A Common Stock1,891$25.7841,187(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 July 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 Jose Maria Aznar07/02/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did NEWS CORP (NWS) director Jose Maria Aznar report?

Jose Maria Aznar reported exercising 1,747 deferred stock units into Class A Common Stock and disposing 1,747 shares back to the issuer. He also received 1,891 new deferred stock units, reflecting routine director compensation and settlement activity rather than open-market buying or selling.

How many NEWS CORP (NWS) Class A shares does Jose Maria Aznar hold after these transactions?

Following the reported transactions, Jose Maria Aznar directly holds 1,087 shares of NEWS CORP Class A Common Stock. This figure comes after exercising deferred stock units into shares and then returning an equal number of shares to the issuer in a disposition transaction.

What are deferred stock units in the context of NEWS CORP (NWS) director compensation?

For NEWS CORP, each deferred stock unit represents the equivalent of one Class A Common share, but is settled in cash rather than stock. These units generally become payable in cash on a set future date or when the director’s board service ends, aligning compensation with long-term performance.

How many deferred stock units does Jose Maria Aznar hold at NEWS CORP (NWS) after this Form 4?

After the reported grant and exercise, Jose Maria Aznar holds 39,296 deferred stock units. These units include amounts accrued from dividend equivalents and are scheduled to be paid in cash according to the company’s director compensation timetable or upon his end of service as a director.

Did Jose Maria Aznar make any open-market purchases or sales of NEWS CORP (NWS) stock?

The transactions reported do not involve open-market purchases or sales. They reflect an exercise of deferred stock units into Class A shares, a disposition of shares back to NEWS CORP, and a new grant of deferred stock units as part of director compensation arrangements.

When do NEWS CORP (NWS) deferred stock units reported by Jose Maria Aznar become payable?

The deferred stock units become payable in cash on the first trading day of the quarter five years after each grant, or earlier if Jose Maria Aznar’s board service ends. This schedule ties the value of his compensation to NEWS CORP’s share performance over time.