News Corp director Aznar acquires 136 stock units

Dividend-equivalent units are payable in cash when the underlying deferred stock units vest.

Rhea-AI Filing Summary

News Corp director Jose Maria Aznar reported acquiring 136 deferred stock units on October 7, 2026, at a reported price of $28.55 per share. Each unit represents the equivalent of one Class A common share. The units represent dividend equivalents accrued on previously granted units, payable in cash when the underlying units vest.

The reported transactions also include a conversion and settlement of 6 deferred stock units: the records list 6 Class A common shares acquired and 6 shares returned to the issuer at $28.55 per share. The units had vested October 1, 2026, and became payable in cash on October 7, 2026.

Insider Trade Summary

6 shares exercised/converted

Exercise 4 txns

Insider AZNAR JOSE MARIA

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units F2, F3, F4	136	$28.55	$4K
Exercise	Deferred Stock Units F2, F1, F5, F4	6	--	--
Exercise	Class A Common Stock F1	6	--	--
Disposition	Class A Common Stock	6	$28.55	$171.30

Holdings After Transaction: Deferred Stock Units — 41,102 contracts (Direct); Class A Common Stock — 1,087 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. Represents dividend equivalents accrued with respect to deferred stock units previously granted, which become payable in cash upon vesting of the underlying deferred stock units.
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, which represent dividend equivalents accrued on deferred stock units held as of the dividend record date that vested on October 1, 2026, became payable in cash on the dividend payment date of October 7, 2026.

Key Figures

Deferred stock units acquired: 136 units Reported price per share: $28.55 per share Deferred stock units settled: 6 units +3 more

6 metrics

Deferred stock units acquired 136 units October 7, 2026

Reported price per share $28.55 per share 136 deferred stock units acquired on October 7, 2026

Deferred stock units settled 6 units Payable in cash on October 7, 2026

Class A common shares acquired 6 shares Conversion reported on October 7, 2026

Class A common shares returned to issuer 6 shares October 7, 2026

Reported price per share on disposition to issuer $28.55 per share 6 Class A common shares returned to issuer

Key Terms

deferred stock units, dividend equivalents, vesting

3 terms

deferred stock units financial

"The deferred stock units were deemed to have settled"

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

"Represents dividend equivalents accrued with respect to deferred stock units"

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.

vesting financial

"become payable in cash upon vesting of the underlying deferred stock units"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

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

When do NWS deferred stock units become payable in cash?

News Corp’s reported 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 Jose Maria Aznar’s end of service as a director. The 6 units payable on October 7, 2026, had vested on October 1, 2026.

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

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Available on EDGAR 10/09/2026 - 04:02 PM EDT Accepted by SEC EDGAR 10/09/2026 - 04:01 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^*

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2026

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	10/07/2026		M		6	A	(1)	1,093	D
Class A Common Stock	10/07/2026		D		6	D	$28.55	1,087	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)	10/07/2026		A		136		(3)	(3)	Class A Common Stock	136	$28.55	41,108(4)	D
Deferred Stock Units	(2)	10/07/2026		M			6	(5)	(5)	Class A Common Stock	6	(1)	41,102(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. Represents dividend equivalents accrued with respect to deferred stock units previously granted, which become payable in cash upon vesting of the underlying deferred stock units.

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, which represent dividend equivalents accrued on deferred stock units held as of the dividend record date that vested on October 1, 2026, became payable in cash on the dividend payment date of October 7, 2026.

Remarks:

	/s/ Kenneth C. Mertz as Attorney-in-Fact for Jose Maria Aznar	10/09/2026
	** 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)