[144] Walmart Inc. SEC Filing

Rhea-AI Filing Summary

Insider Form 144 notice for Walmart Inc. (WMT)

This filing reports a proposed sale of 1,610 common shares valued at $166,973.10, with an approximate sale date of 09/15/2025 through Stephens Inc. The filer indicates these shares were acquired on 01/31/2025 as an Executive PSU Share Grant from Walmart Inc. The form also discloses three recent insider sales over the past three months: 1,760 shares on 06/16/2025 for $166,702.00, 1,744 shares on 07/15/2025 for $166,634.25, and 1,655 shares on 08/15/2025 for $166,035.90. The filing lists total shares outstanding as 7,972,851,122. The signer certifies no undisclosed material adverse information and notes the sale is equity compensation-related.

Positive

• Clear regulatory disclosure of proposed sale and past three months' transactions
• Securities were acquired as executive PSU compensation, indicating routine vesting/liquidity
• Transaction size is immaterial relative to 7,972,851,122 shares outstanding

Negative

• Repeated monthly insider sales (June, July, August 2025) could attract market attention despite being small
• Form lacks certain details such as the signer's name and signature date within the provided content

Insights

Financial Analyst

TL;DR Insider sale disclosed; amounts are small relative to Walmart's outstanding shares and appear routine equity-compensation liquidity.

This Form 144 shows a proposed sale of 1,610 shares and three recent monthly sales averaging ~1,720 shares each, with gross proceeds around $166k per trade. Given Walmart's reported outstanding share count of 7.97 billion, these transactions are immaterial to company capitalization and unlikely to move market perceptions by themselves. The shares were acquired as an executive PSU grant and the filing states the transaction is equity-compensation related, which supports a routine-liquidity interpretation. Impact on valuation is negligible; monitor only if insider selling accelerates or company-specific disclosures follow.

Corporate Governance Expert

TL;DR Disclosure is compliant and transparent; recurring small sales by an insider are governance-appropriate but merit monitoring.

The filer used Form 144 to notify a planned sale and disclosed prior sales in the last three months, meeting statutory notice requirements. The representation that no material nonpublic information is known and the indication that the shares derive from an executive PSU grant are governance-positive signals. From a governance perspective, continued routine disclosures maintain market transparency. However, frequent insider sales should be tracked to ensure they align with trading plans and not stem from undisclosed developments.

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	Stephens Inc. 111 Center St Little Rock AR 72201	1610	166973.10	7972851122	09/15/2025	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	01/31/2025	Executive PSU Share Grant 1/7/2022	Walmart Inc.			46591	01/31/2025	Equity Compensation

* 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
Daniel J Bartlett 1 Customer Dr Bentonville AR 72716	Common	08/15/2025	1655	166035.90
Daniel J Bartlett 1 Customer Dr Bentonville AR 72716	Common	07/15/2025	1744	166634.25
Daniel J Bartlett 1 Customer Dr Bentonville AR 72716	Common	06/16/2025	1760	166702.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 for WMT disclose about the planned sale?

The filing discloses a proposed sale of 1,610 common shares valued at $166,973.10 with an approximate sale date of 09/15/2025 through Stephens Inc.

How were the shares being sold acquired according to the WMT Form 144?

The shares were acquired on 01/31/2025 as an Executive PSU Share Grant from Walmart Inc., and payment/consideration is listed as Equity Compensation.

What insider sales by the same person occurred in the past three months?

The filing lists sales of 1,760 shares on 06/16/2025 for $166,702.00, 1,744 shares on 07/15/2025 for $166,634.25, and 1,655 shares on 08/15/2025 for $166,035.90.

Are these sales material to Walmart's market capitalization?

No. The disclosed trades are small relative to the reported 7,972,851,122 outstanding shares, so they are unlikely to be material to market capitalization.

Does the filing indicate the seller knows of any undisclosed material information?

The signer represents they do not know any material adverse nonpublic information about the issuer, per the Form 144 certification language.