Walmart EVP granted 20,227 shares in Form 4

Walmart Inc. Executive Vice President David W. Guggina reported compensation-related equity movements.

Rhea-AI Filing Summary

Walmart Inc. Executive Vice President David W. Guggina reported compensation-related equity movements. He received an award of 20,227.055 common shares in the form of restricted stock units earned for performance for the one-year period ended Jan. 31, 2026, which are scheduled to vest on Jan. 31, 2028 if he remains employed. A separate entry shows 198.326 shares withheld at $124.34 per share to cover tax obligations upon vesting of restricted stock. Following these transactions, he directly holds 146,604.978 Walmart common shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Guggina David W

Role Executive Vice President

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common	198.326	$124.34	$25K
Grant/Award	Common	20,227.055	$0.00	$0.00

Holdings After Transaction: Common — 146,604.978 shares (Direct)

Footnotes (3)

1. F1. Represents restricted stock units earned by Reporting Person upon achievement of performance goals for the one-year period ended Jan. 31, 2026, as certified by the Compensation and Management Development Committee on March 9, 2026. The restricted stock units are scheduled to vest Jan. 31, 2028, if Reporting Person remains employed by the Issuer on that date.
2. F2. Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock. A portion of the remaining vested shares was deferred by the Reporting Person to a future date.
3. F3. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Walmart (WMT) executive David W. Guggina report in this Form 4?

David W. Guggina reported routine equity compensation activity, not open-market trading. He received 20,227.055 performance-based restricted stock units and had 198.326 shares withheld to cover tax obligations on vested restricted stock, leaving him with 146,604.978 Walmart common shares held directly.

How many Walmart (WMT) shares did David Guggina receive as performance-based restricted stock units?

He earned 20,227.055 restricted stock units tied to performance goals for the one-year period ended Jan. 31, 2026. These units convert into an equivalent number of Walmart common shares and are scheduled to vest on Jan. 31, 2028, conditioned on continued employment with Walmart.

Were any of David Guggina’s reported Walmart (WMT) transactions open-market buys or sells?

No, the transactions were not open-market buys or sells. One entry is a grant/award acquisition of 20,227.055 restricted stock units, and the other is a tax-withholding disposition of 198.326 shares to satisfy tax obligations when restricted stock vested.

When do David Guggina’s newly earned Walmart (WMT) restricted stock units vest?

The restricted stock units earned for performance are scheduled to vest on Jan. 31, 2028. Vesting is contingent on David W. Guggina remaining employed by Walmart through that date, according to the compensation committee’s certification of the award.

How many Walmart (WMT) shares does David Guggina hold after these Form 4 transactions?

After the reported award and tax-withholding entry, David W. Guggina directly holds 146,604.978 Walmart common shares. This balance also reflects an adjustment related to current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan, as noted in the footnotes.

Why were 198.326 Walmart (WMT) shares disposed of in David Guggina’s Form 4?

The 198.326-share disposition was to satisfy tax withholding obligations upon the vesting of restricted stock. These shares were withheld at a value of $124.34 per share, and a portion of the remaining vested shares was deferred by David Guggina to a future date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/11/2026 - 07:15 PM Learn about SEC filing dates

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^*

Guggina David W

(Last) (First) (Middle)

1 CUSTOMER DRIVE

(Street)

BENTONVILLE AR 72716

(City) (State) (Zip)

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)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	03/09/2026		A		20,227.055(1)	A	$0	146,803.304	D
Common	03/10/2026		F		198.326(2)	D	$124.34	146,604.978(3)	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 restricted stock units earned by Reporting Person upon achievement of performance goals for the one-year period ended Jan. 31, 2026, as certified by the Compensation and Management Development Committee on March 9, 2026. The restricted stock units are scheduled to vest Jan. 31, 2028, if Reporting Person remains employed by the Issuer on that date.

2. Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock. A portion of the remaining vested shares was deferred by the Reporting Person to a future date.

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

Remarks:

	/s/ Dirk Gardner, by power of attorney	03/11/2026
	** 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.