Walmart (WMT) SVP Milum has shares withheld to cover tax on restricted stock

Rhea-AI Filing Summary

Walmart Inc. SVP & Controller Dwayne M. Milum reported a routine tax-withholding transaction in company stock. On April 7, 2026, 178.259 shares of Walmart common stock were withheld at $126.79 per share to cover tax obligations on vesting restricted stock. After this withholding, Milum directly held 49,630.645 shares of Walmart common stock, indicating he retained a substantial equity position.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Milum Dwayne M

Role SVP & Controller

Type	Security	Shares	Price	Value
Tax Withholding	Common	178.259	$126.79	$23K

Holdings After Transaction: Common — 49,630.645 shares (Direct)

Footnotes (1)

1. Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Key Figures

Shares withheld for taxes: 178.259 shares Price per share: $126.79 per share Shares held after transaction: 49,630.645 shares

3 metrics

Shares withheld for taxes 178.259 shares Tax-withholding disposition on April 7, 2026

Price per share $126.79 per share Value used for withheld shares

Shares held after transaction 49,630.645 shares Direct ownership after tax withholding

Key Terms

restricted stock, tax withholding obligations, Associate Stock Purchase Plan, tax-withholding disposition

4 terms

restricted stock financial

"tax withholding obligations upon the vesting of restricted stock"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

tax withholding obligations financial

"Represents shares withheld to satisfy tax withholding obligations"

Associate Stock Purchase Plan financial

"current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan"

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

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^*

Milum Dwayne M

(Last) (First) (Middle)

1 CUSTOMER DRIVE

(Street)

BENTONVILLE ARKANSAS 72716

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Walmart Inc. [ WMT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

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
Common	04/07/2026		F		178.259(1)	D	$126.79	49,630.645(2)	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

Explanation of Responses:

1. Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock.

2. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Remarks:

	/s/ Mary Marshall, by power of attorney	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 transaction did Walmart (WMT) disclose for Dwayne M. Milum?

Walmart reported a routine tax-withholding transaction for SVP & Controller Dwayne M. Milum. On April 7, 2026, 178.259 common shares were withheld to satisfy tax obligations tied to vesting restricted stock, rather than sold in an open-market trade.

How many Walmart (WMT) shares were withheld for taxes in this Form 4?

The filing shows 178.259 Walmart common shares were withheld. These shares covered tax liabilities when restricted stock vested, which is a standard mechanism and not an open-market sale or discretionary trading decision by the executive.

What is Dwayne M. Milum’s Walmart (WMT) shareholding after this transaction?

After the tax-withholding transaction, Dwayne M. Milum directly held 49,630.645 Walmart common shares. This figure reflects his remaining ownership following the automatic share withholding connected to the vesting of restricted stock awards.

Was this Walmart (WMT) insider transaction a market sale of shares?

No. The Form 4 describes a tax-withholding disposition, not an open-market sale. Shares were delivered to satisfy tax obligations arising from restricted stock vesting, a common administrative process for equity compensation.

What price per share is reported in the Walmart (WMT) Form 4 transaction?

The transaction used a price of $126.79 per Walmart common share. This price is applied to the 178.259 withheld shares for tax purposes in connection with the vesting of restricted stock.

What do the footnotes in this Walmart (WMT) Form 4 explain?

The footnotes clarify that shares were withheld solely to satisfy tax obligations upon restricted stock vesting and that the reported balance was adjusted to reflect current holdings in the Walmart Inc. 2016 Associate Stock Purchase Plan.