[Form 4] NEWS CORP Insider Trading Activity

Rhea-AI Filing Summary

Director Masroor Siddiqui reported transactions in News Corporation (NWS) Class A common stock on 10/08/2025. The filing shows a deemed settlement and cash payment for deferred stock units and a small open-market disposition of 11 Class A shares at $27.38 per share. The report also records the acquisition or vesting of 144 deferred stock units (including dividend equivalents) that were settled for cash equivalents, leaving an aggregate holding of 41,085 deferred stock units payable in cash under the plan terms. The deferred units become payable on the earlier of the first trading day of the quarter five years after grant or the director's end of service.

Positive

• Deferred compensation settled for cash, simplifying share count and avoiding immediate dilution
• Transaction size is small — the open-market disposition was only 11 Class A shares, suggesting no large insider sell-down

Negative

• Director holdings are primarily deferred stock units (aggregate 41,085 units) which create future cash obligations
• Cash payouts for deferred units could increase near-term cash outflows if multiple directors vest or terminate service within the payout window

Insights

Corporate Governance Analyst

Small open-market sale and cash settlement of deferred units; holdings remain concentrated in deferred units.

The reported 11-share sale at $27.38 is immaterial in size relative to total deferred-unit holdings, while 144 deferred stock units were settled for cash value including accumulated dividend equivalents. The filing documents the mechanics of director compensation converting to cash rather than additional shares.

The primary dependency is the director compensation plan's payout schedule: deferred units pay in cash on the earlier of a five-year post-grant quarter or termination of service. Monitor aggregate deferred-unit balance of 41,085 for future cash outflows tied to director departures or scheduled payouts within the plan timeframe.

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^*

Siddiqui Masroor

(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)

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

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
Class A Common Stock	10/08/2025		M		11	A	(1)	11	D
Class A Common Stock	10/08/2025		D		11	D	$27.38	0	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)	10/08/2025		A		144		(3)	(3)	Class A Common Stock	144	$27.38	41,085(4)	D
Deferred Stock Units	(2)	10/08/2025		M			11	(5)	(5)	Class A Common Stock	11	(1)	41,074(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, 2025, became payable in cash on the dividend payment date of October 8, 2025.

Remarks:

	/s/ Kenneth C. Mertz as Attorney-in-Fact for Masroor Siddiqui	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 (NWS) director Masroor Siddiqui report on Form 4?

The Form 4 reports a disposition of 11 Class A shares at $27.38 on 10/08/2025 and the cash settlement of 144 deferred stock units including dividend equivalents.

How many deferred stock units does Masroor Siddiqui hold after the reported transactions?

The filing reports an aggregate of 41,085 deferred stock units held by the reporting person following the transactions.

Were the deferred stock units paid in stock or cash?

The deferred stock units were deemed to have settled for cash, and dividend equivalents accrued on those units were also paid in cash on the dividend payment date.

When are the deferred stock units payable?

They become payable in cash on the earlier of the first trading day of the quarter five years following the grant or the reporting person's end of service as a director.

Does the Form 4 indicate a large insider sale that could signal concern?

No. The reported open-market disposition was 11 shares, which is a very small transaction relative to the reported deferred-unit balance.