News Corp (NASDAQ: NWS) director reports cash-settled units and new grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

News Corp director Masroor Siddiqui reported compensation-related deferred stock unit activity. On April 1, 2026, he exercised 1,644 deferred stock units that were settled in cash based on the value of an equivalent number of Class A shares and simultaneously disposed of 1,644 Class A shares to the issuer at $24.71. He also received a new grant of 1,972 deferred stock units, each representing the cash value of one Class A share, bringing his total deferred stock units to 40,892, payable in cash on scheduled future dates or upon the end of his board service.

Insider Trade Summary

1,644 shares exercised/converted

Mixed 4 txns

Insider Siddiqui Masroor

Role Director

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

Holdings After Transaction: Deferred Stock Units — 38,920 shares (Direct); Class A Common Stock — 1,644 shares (Direct)

Footnotes (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 April 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.

Key Figures

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

5 metrics

Deferred stock units exercised 1,644 units Exercised and settled in cash on April 1, 2026

New deferred stock unit grant 1,972 units Grant to director on April 1, 2026

Deferred stock units held 40,892 units Total deferred stock units after reported transactions

Reference price $24.71 per share Applied to 1,972-unit grant and 1,644-share disposition

Class A shares disposed to issuer 1,644 shares Disposition to issuer associated with deferred unit settlement

Key Terms

Deferred Stock Units, disposition to issuer, dividend equivalents, 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..."

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""

dividend equivalents financial

"including deferred stock units accrued as a result of dividend equivalents..."

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.

Class A Common Stock financial

"Each deferred stock unit represents the equivalent of one share of ..."

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.

grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:13 PM

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	04/01/2026		M		1,644	A	⁽¹⁾	1,644	D
Class A Common Stock	04/01/2026		D		1,644	D	$24.71	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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 Masroor Siddiqui	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)

Source: View Original Filing on SEC EDGAR

FAQ

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

Masroor Siddiqui reported exercising 1,644 deferred stock units for cash and disposing of 1,644 Class A shares to the issuer, while also receiving a grant of 1,972 new deferred stock units tied to News Corp Class A share value.

Did Masroor Siddiqui buy or sell News Corp (NWS) shares on the open market?

The filing shows no open-market buys or sells. Instead, it reports a cash settlement of 1,644 deferred stock units and a matching 1,644-share disposition to News Corp, together with a new award of 1,972 deferred stock units as director compensation.

How many deferred stock units does Masroor Siddiqui hold after this Form 4 for NWS?

After these transactions, Masroor Siddiqui holds 40,892 deferred stock units. Each unit represents the cash value of one News Corp Class A share and will be paid in cash on specified future dates or when his board service ends.

When will the reported deferred stock units for News Corp (NWS) become payable?

The 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 date, or the end of Masroor Siddiqui’s service as a News Corp director, according to the filing footnotes.

What does the $24.71 figure represent in Masroor Siddiqui’s NWS Form 4?

The $24.71 figure is the reference price used for both the 1,972 deferred stock unit grant and the 1,644-share disposition to the issuer. It reflects the value applied in calculating the cash amounts rather than an open-market trading transaction.