News Corp (NWS) director gets 157 deferred units, settles part in cash

Rhea-AI Filing Summary

News Corp director Masroor Siddiqui reported compensation-related activity involving deferred stock units tied to Class A Common Stock. He received a grant of 157 deferred stock units valued using a reference price of $24.43 per share, each unit representing the equivalent of one Class A share.

The filing shows 6 deferred stock units were exercised into 6 Class A shares at a conversion price of $0.00, and those 6 shares were then disposed of back to the issuer at $24.43 per share. Footnotes explain the deferred stock units are cash-settled, with amounts deemed to have been paid based on the cash value of an equivalent number of Class A shares and including dividend equivalents.

After these transactions, Siddiqui holds an aggregate of 41,049 deferred stock units, including units from dividend equivalents. According to the disclosure, these amounts become payable in cash on the earlier of the first trading day of the quarter five years after each grant or the end of his service as a director.

Insider Trade Summary

6 shares exercised/converted

Mixed 4 txns

Insider Siddiqui Masroor

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	157	$24.43	$4K
Exercise	Deferred Stock Units	6	$0.00	--
Exercise	Class A Common Stock	6	$0.00	--
Disposition	Class A Common Stock	6	$24.43	$146.58

Holdings After Transaction: Deferred Stock Units — 41,049 shares (Direct); Class A Common Stock — 6 shares (Direct)

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. 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. 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, which represent dividend equivalents accrued on deferred stock units held as of the dividend record date that vested on April 1, 2026, became payable in cash on the dividend payment date of April 8, 2026.

Form 4 Insider Transactions: What Each Field Means →

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^*

Siddiqui Masroor

(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)
04/08/2026

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	04/08/2026		M		6	A	(1)	6	D
Class A Common Stock	04/08/2026		D		6	D	$24.43	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)	04/08/2026		A		157		(3)	(3)	Class A Common Stock	157	$24.43	41,049(4)	D
Deferred Stock Units	(2)	04/08/2026		M			6	(5)	(5)	Class A Common Stock	6	(1)	41,043(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 April 1, 2026, became payable in cash on the dividend payment date of April 8, 2026.

Remarks:

	/s/ Kenneth C. Mertz as Attorney-in-Fact for Masroor Siddiqui	04/09/2026
	** 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)

FAQ

What insider activity did News Corp (NWS) director Masroor Siddiqui report?

Masroor Siddiqui reported a grant of 157 deferred stock units and related internal conversions and dispositions. Six units were exercised into six Class A shares, which were then returned to the issuer for cash at $24.43 per share, reflecting routine, compensation-linked activity rather than open-market trading.

What are deferred stock units in the News Corp (NWS) Form 4 filing?

Deferred stock units represent the cash value equivalent of one share of News Corp Class A Common Stock. They are cash-settled, accrue dividend equivalents, and become payable in cash on the earlier of five years after the respective grant or when the director’s board service ends, according to the disclosure.

How many deferred stock units does the News Corp (NWS) director hold after this filing?

After these transactions, the director holds an aggregate of 41,049 deferred stock units. This total includes units granted previously plus additional units accrued as dividend equivalents, all of which vest on the same terms as the underlying deferred stock units and are ultimately payable in cash, not shares.

Were any News Corp (NWS) shares bought or sold on the open market in this Form 4?

The reported movements involve internal exercises and a disposition to the issuer, not open-market trading. Six deferred stock units converted into six Class A shares, which were then disposed of back to News Corp at $24.43 per share, with settlement described as cash-based in the footnotes.

How and when are the News Corp (NWS) deferred stock units paid to the director?

The filing states deferred stock units become payable in cash on the earlier of two events: the first trading day of the quarter five years after each grant, or the end of the director’s service. Dividend equivalents also become payable in cash upon vesting of the related deferred stock units.

What does the $24.43 figure represent in the News Corp (NWS) insider transactions?

The $24.43 figure is the reference price per share used in the Form 4 for both the 157 deferred stock unit grant value and the disposition of six Class A shares to the issuer. It effectively reflects the cash value basis for these compensation-related settlements on the transaction date.