[144] Walmart Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Walmart Inc. (WMT) reports a proposed sale of 2,550,000 shares of common stock via Goldman Sachs & Co. LLC on 09/17/2025 with an aggregate market value of $265,888,500 against 7,972,851,122 shares outstanding.

The filing identifies the securities as originating from a charitable contribution from Lukas T. Walton, with donor acquisition dated 09/15/2025 and the securities acquired by the seller on 09/17/2025. The notice also lists multiple recent sales by Walton-related entities and foundations between 06/24/2025 and 09/16/2025, including large transactions such as 3,395,000 shares by Builders Vision Foundation on 09/10/2025 and several multi-hundred-thousand-share dispositions by Walton Family Holdings Trust.

Positive

• None.

Negative

• Large proposed sale: 2,550,000 shares with an aggregate market value of $265,888,500 scheduled for 09/17/2025.
• Extensive recent dispositions: Multiple sizeable sales by Walton-related trusts and foundations between 06/24/2025 and 09/16/2025, including a 3,395,000-share sale by Builders Vision Foundation on 09/10/2025.
• Potential increase in share supply: The filing documents many high-volume sales that collectively represent material share movements from insiders/affiliated entities.

Insights

Financial Analyst

TL;DR Large insider-related dispositions are reported, including a single proposed sale worth $265.9 million; several prior sales occurred this year.

The filing documents a proposed 2,550,000-share sale priced at $265,888,500 via Goldman Sachs on 09/17/2025 and records numerous prior sales by Walton-affiliated trusts and foundations from June through mid-September 2025. From an analytical perspective, these are disclosed transactions under Rule 144; the filing provides quantities, dates, counterparties, and gross proceeds for prior sales, enabling investors to quantify supply from those accounts. The form does not include any commentary on corporate operations or forward-looking statements.

Corporate Governance Expert

TL;DR Multiple sizable dispositions by Walton-affiliated entities are documented; disclosure appears procedural under Rule 144.

The record shows the securities to be sold were tied to a charitable contribution from Lukas T. Walton and scheduled for sale through an authorized broker. The filing lists many recent sales by trusts and foundations associated with Walton family names with specific share counts and gross proceeds, which is material information for shareholder dilution and insider trading transparency. The document contains the standard representation that the signer knows of no undisclosed material adverse information.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	2550000	265888500	7972851122	09/17/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	09/17/2025	Charitable Contribution	(1) Lukas T. Walton		09/15/2025	2550000	09/17/2025	None

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	06/24/2025	3035258	298092991.71
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	06/25/2025	321361	31545631.3
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	06/27/2025	378639	36923293.74
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	08/22/2025	565627	55095633.25
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	08/25/2025	317287	30679558.81
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	08/26/2025	688586	66138134.43
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	08/27/2025	398852	38325888.11
WPS2 Fund 1 Customer Drive Bentonville AR 72716	Common Stock	08/28/2025	73422	7066948.26
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	08/28/2025	767418	73842725.02
WPS2 Fund 1 Customer Drive Bentonville AR 72716	Common Stock	08/29/2025	136578	13197381.9
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	08/29/2025	1371230	132498526.83
The Rob Walton Foundation 1 Customer Drive Bentonville AR 72716	Common Stock	09/10/2025	758000	76252677.6
Builders Vision Foundation 1 Customer Drive Bentonville AR 72716	Common Stock	09/10/2025	3395000	341527494
Walton Family Holdings Trust 1 Customer Drive Bentonville AR 72716	Common Stock	09/16/2025	2389000	247148739.2

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for WMT report?

The Form 144 reports a proposed sale of 2,550,000 Walmart common shares via Goldman Sachs on 09/17/2025 with an aggregate market value of $265,888,500.

Who is the reported source of the shares to be sold on 09/17/2025?

The filing states the shares originated from a charitable contribution from Lukas T. Walton, with donor acquisition dated 09/15/2025.

Which broker is named to execute the proposed sale?

Goldman Sachs & Co. LLC, located at 200 West Street, New York, NY 10282, is the broker listed.

Are there recent prior sales disclosed in the filing?

Yes. The filing lists numerous prior sales by Walton Family Holdings Trust, WPS2 Fund, The Rob Walton Foundation and Builders Vision Foundation between 06/24/2025 and 09/16/2025 with specific share counts and gross proceeds.

What outstanding share count is shown in the Form 144?

The form lists 7,972,851,122 shares outstanding for the issuer.

Does the filing state any undisclosed material information about the company?

The signer represents they do not know any material adverse information regarding the issuer that has not been publicly disclosed.