[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction summary: A Form 4 reports that David Chojnowski, Senior Vice President and officer of Walmart Inc. (WMT), disposed of 250.419 common shares on 10/07/2025 at a reported price of $102.7 per share. After the transaction, the filing shows 143,534.935 shares beneficially owned. The filing notes the disposition reflects shares withheld to satisfy tax withholding obligations upon vesting of restricted stock and that the balance was adjusted for the Walmart Inc. 2016 Associate Stock Purchase Plan. The Form 4 is signed by a power of attorney on 10/09/2025.

Positive

• Transaction tied to tax withholding on vested restricted stock, indicating routine compensation settlement rather than discretionary sale
• Post-transaction beneficial ownership remains substantial at 143,534.935 shares

Negative

• None.

Insights

Corporate Governance Specialist

Officer sold a small number of shares tied to tax withholding on vested equity.

The reported 250.419 share disposition on 10/07/2025 is described as withholding to cover taxes from restricted stock vesting rather than an open-market cash sale.

This type of transaction typically reflects routine equity compensation settlement and does not by itself indicate a change in executive outlook; monitor officer-level filings over the next 90 days for any larger pattern of open-market sales.

Equity Compensation Analyst

Transaction adjusts holdings after vesting and purchase-plan balance update.

The filing explains the 250.419 shares were withheld for tax obligations and shows a post-transaction balance of 143,534.935 shares, with an adjustment tied to the 2016 Associate Stock Purchase Plan. This indicates the movement is administrative within the equity compensation framework.

Watch for future filings disclosing additional vesting events or plan purchases that would affect dilution or executive alignment in the coming 12 months.

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^*

Chojnowski David

(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)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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	10/07/2025		F		250.419(1)	D	$102.7	143,534.935(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/ Dirk Gardner, by power of attorney	10/09/2025
	** 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.

FAQ

What did Walmart insider David Chojnowski report on Form 4 (WMT)?

The Form 4 reports that David Chojnowski disposed of 250.419 common shares on 10/07/2025 at $102.7 per share and now beneficially owns 143,534.935 shares.

Why were the 250.419 Walmart shares disposed of?

The filing states the 250.419 shares were withheld to satisfy tax withholding obligations upon the vesting of restricted stock.

Does the Form 4 indicate an open-market sale by the officer?

The Form 4 characterizes the movement as tax withholding on vesting; it does not state this was an open-market discretionary sale.

How does this transaction affect David Chojnowski’s ownership stake?

After the reported disposition, the filing shows he beneficially owns 143,534.935 shares, reflecting the post-withholding balance.

When was the Form 4 signed and filed?

The Form 4 is signed by power of attorney on 10/09/2025 and lists the transaction date as 10/07/2025.