Walmart EVP covers taxes with withheld shares

Walmart Inc. Executive Vice President David W. Guggina reported a routine tax-withholding transaction involving company stock.

Rhea-AI Filing Summary

Walmart Inc. Executive Vice President David W. Guggina reported a routine tax-withholding transaction involving company stock. On the vesting of restricted stock, 198.331 shares of Walmart common stock were withheld at $126.79 per share to satisfy tax withholding obligations, rather than being sold on the open market.

After this withholding and an adjustment for holdings in the Walmart Inc. 2016 Associate Stock Purchase Plan, Guggina directly holds 146,411.172 shares of Walmart common stock. This event reflects compensation-related share withholding, not a discretionary stock sale.

Insider Trade Summary

Exercise Price or Tax Liability: 198.331 shares

Exercise Price or Tax Liability 1 txn

Insider Guggina David W

Role Executive Vice President

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common	198.331	$126.79	$25K

Holdings After Transaction: Common — 146,411.172 shares (Direct)

Footnotes (2)

1. F1. 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.
2. F2. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Key Figures

Shares withheld for taxes: 198.331 shares Withholding price per share: $126.79 per share Shares held after transaction: 146,411.172 shares

3 metrics

Shares withheld for taxes 198.331 shares Withheld on restricted stock vesting

Withholding price per share $126.79 per share Value used for tax-withholding shares

Shares held after transaction 146,411.172 shares Direct holdings after tax withholding and plan adjustment

Key Terms

tax withholding obligations, restricted stock, Associate Stock Purchase Plan

3 terms

tax withholding obligations financial

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

restricted stock financial

"Represents shares withheld to satisfy 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.

Associate Stock Purchase Plan financial

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

A company program that lets employees buy the company’s shares at a discount, often through payroll deductions over a set offering period. Like a discount buying club for staff, it encourages workers to own a piece of the business, aligning their interests with shareholders and boosting retention. For investors, such plans can signal employee confidence and create steady demand for shares but may also slightly increase share count over time.

FAQ

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

What insider stock transaction did Walmart (WMT) report for David W. Guggina?

Walmart reported that Executive Vice President David W. Guggina had 198.331 shares of common stock withheld to cover tax obligations on vested restricted stock. This is a compensation-related tax-withholding event, not an open-market purchase or sale of Walmart shares.

Was the Walmart (WMT) insider transaction by David Guggina an open-market sale?

No, the transaction was not an open-market sale. The 198.331 Walmart shares were withheld by the company to satisfy tax withholding obligations when restricted stock vested, a common non-market mechanism used to handle employee tax liabilities on equity awards.

How many Walmart (WMT) shares does David Guggina hold after this Form 4 filing?

After the reported tax-withholding transaction and plan balance adjustment, Executive Vice President David Guggina directly holds 146,411.172 shares of Walmart common stock. This figure reflects his updated ownership position following the vesting of restricted stock and associated share withholding.

What price was used for the Walmart (WMT) tax-withholding shares on this Form 4?

The 198.331 withheld shares were valued at $126.79 per Walmart common share for tax-withholding purposes. This price is used to calculate the value of stock withheld to meet income tax obligations when the restricted stock vested for the executive.

What do the Walmart (WMT) Form 4 footnotes say about David Guggina’s transaction?

The footnotes state Walmart withheld shares to satisfy tax withholding obligations upon vesting of restricted stock, and that some remaining vested shares were deferred to a future date. Another footnote explains the reported balance reflects current holdings in the 2016 Associate Stock Purchase Plan.

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

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Accepted by SEC EDGAR 04/09/2026 - 06:48 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 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)
	Executive Vice President

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		198.331(1)	D	$126.79	146,411.172(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. A portion of the remaining vested shares was deferred by the Reporting Person to a future date.

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)