Walmart director receives 1,935-share equity grant

Walmart Inc. director Sarah Friar reported receiving an annual equity grant of 1,935 shares of Walmart common stock as part of her non-management director compensation.

Rhea-AI Filing Summary

Walmart Inc. director Sarah Friar reported receiving an annual equity grant of 1,935 shares of Walmart common stock as part of her non-management director compensation. The grant was recorded at a price of $0 per share and its receipt was deferred to a future date under her prior election. Following this award and related adjustments for phantom stock units acquired as dividend equivalents on deferred stock units, her directly held balance increased to 62,067.132 shares.

Insider Trade Summary

Grant/Award: 1,935 shares

Grant/Award 1 txn

Insider Friar Sarah

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common	1,935	$0.00	$0.00

Holdings After Transaction: Common — 62,067.132 shares (Direct)

Footnotes (2)

1. F1. Represents an annual equity grant as part of the Reporting Person's non-management director compensation. The receipt of these shares was deferred to a future date under an election made by the Reporting Person.
2. F2. Balance adjusted to reflect phantom stock units acquired as dividend equivalents on deferred stock units.

Key Figures

Equity grant size: 1,935 shares Share price for grant: $0.0000 per share Shares held after transaction: 62,067.132 shares

3 metrics

Equity grant size 1,935 shares Annual equity grant on 2026-06-04

Share price for grant $0.0000 per share Recorded grant/award price

Shares held after transaction 62,067.132 shares Direct holdings following grant

Key Terms

annual equity grant, phantom stock units, deferred stock units

3 terms

annual equity grant financial

"Represents an annual equity grant as part of the Reporting Person's non-management director compensation."

phantom stock units financial

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

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

deferred stock units financial

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

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

FAQ

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

What did Walmart (WMT) director Sarah Friar report in this Form 4?

Sarah Friar reported an annual equity grant of Walmart common stock. She received 1,935 common shares as part of her non-management director compensation, with the receipt of these shares deferred to a future date under a prior election.

How many Walmart (WMT) shares were granted to Sarah Friar?

Sarah Friar was granted 1,935 Walmart common shares. The filing describes this as an annual equity grant tied to her non-management director compensation, with the award structured as a grant/award acquisition rather than an open-market purchase.

What is Sarah Friar’s Walmart (WMT) share balance after the grant?

After the equity grant and related adjustments, Sarah Friar holds 62,067.132 Walmart common shares directly. This balance reflects both the 1,935-share annual equity award and phantom stock units acquired as dividend equivalents on her deferred stock units.

Was Sarah Friar’s Walmart (WMT) equity grant an open-market purchase?

No, the transaction was not an open-market purchase. It is classified as a grant, award, or other acquisition, recorded at a price of $0 per share, as part of Sarah Friar’s non-management director compensation program.

How are phantom stock units mentioned in Sarah Friar’s Walmart (WMT) filing?

The filing notes that her balance was adjusted to reflect phantom stock units acquired as dividend equivalents on deferred stock units. These phantom units track Walmart’s stock value and accumulate based on dividends on her deferred director equity.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 06/08/2026 - 06:39 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^*

Friar Sarah

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

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	06/04/2026		A		1,935(1)	A	$0	62,067.132(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 an annual equity grant as part of the Reporting Person's non-management director compensation. The receipt of these shares was deferred to a future date under an election made by the Reporting Person.

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

Remarks:

	/s/ Mary Marshall, by power of attorney	06/08/2026
	** 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)