[Form 4] Walmart Inc. Insider Trading Activity

Walmart Inc. director Steuart L. Walton received 394,000 shares of Walmart common stock for no cash consideration through a distribution from the Walton Family Holdings Trust.

Rhea-AI Filing Summary

Walmart Inc. director Steuart L. Walton received 394,000 shares of Walmart common stock for no cash consideration through a distribution from the Walton Family Holdings Trust. This non-cash "other" transaction increased his directly owned stake to 473,771.574 shares. A separate entry shows 93,654 shares held indirectly through his spouse after the reported date.

Insights

Corporate governance analyst

Large non-cash share transfer to Walton, neutral for fundamentals.

Director Steuart L. Walton received 394,000 Walmart common shares via a distribution from the Walton Family Holdings Trust, with no consideration paid. The transaction is coded as an "other acquisition or disposition," indicating an internal restructuring rather than an open-market trade.

Following the transfer, his directly owned shares total 473,771.574, while an additional 93,654 shares are held indirectly through his spouse. These changes reflect ownership reallocation within related parties, without signaling a buy or sell decision, so the immediate impact on the investment case is limited.

Insider Trade Summary

Other: 394,000 shares

Other 2 txns

Insider Walton Steuart L

Role Director

Type	Security	Shares	Price	Value
Other	Common	394,000	$0.00	$0.00
holding	Common	--	--	--

Holdings After Transaction: Common — 473,771.574 shares (Direct); Common — 93,654 shares (Indirect, By spouse)

Footnotes (2)

1. F1. The transaction is the receipt by the Reporting Person of 394,000 shares of Common Stock, for no consideration, in a distribution from the Walton Family Holdings Trust.
2. F2. Balance adjusted to reflect phantom stock units acquired as dividend equivalents on deferred stock units.

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Accepted by SEC EDGAR 03/04/2026 - 06:17 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^*

Walton Steuart L

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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	03/04/2026		J(1)		394,000(1)	A	$0(1)	473,771.574(2)	D
Common								93,654	I	By spouse

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. The transaction is the receipt by the Reporting Person of 394,000 shares of Common Stock, for no consideration, in a distribution from the Walton Family Holdings Trust.

2. Balance adjusted to reflect phantom stock units acquired as dividend equivalents on deferred stock units.

Remarks:

	/s/ Jennifer F. Rudolph, by power of attorney	03/04/2026
	** 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.