[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Kathryn J. McLay, Executive Vice President of Walmart Inc. (WMT), sold 4,000 shares on 08/19/2025 at a price of $100.96 per share under a Rule 10b5-1 trading plan. The Form 4 reports the sale reduced her reported beneficial ownership to 1,052,455.036 shares. The filing notes the 10b5-1 plan was entered during an open trading window and disclosed by the issuer on November 22, 2024. The Form is signed on behalf of the reporting person by Mary Marshall by power of attorney on 08/20/2025.

Insights

Securities Analyst

TL;DR: Insider sale of 4,000 shares under a pre-established 10b5-1 plan; ownership remains just over one million shares.

The transaction is a routine, pre-planned disposal executed under a declared Rule 10b5-1 plan, which generally limits inference about material nonpublic information. The sale size (4,000 shares at $100.96) is small relative to the reported remaining ownership of 1,052,455.036 shares, suggesting limited immediate impact on insider alignment with shareholders. Documentation shows the plan was entered during an open window and disclosed by the issuer on November 22, 2024, supporting procedural compliance. No other derivative or related transactions are reported in this filing.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance best practices; transaction executed under disclosed 10b5-1 plan.

The Form 4 indicates compliance with Section 16 reporting and use of a 10b5-1 plan, which helps mitigate concerns about opportunistic timing. The filing includes a power-of-attorney signature dated 08/20/2025, showing the process of reporting was completed promptly. There are no indications in this form of departures, option exercises, or other governance events. The magnitude of the sale relative to total holdings appears immaterial based on the numbers reported here.

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).

X

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^*

McLay Kathryn J.

(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)
08/19/2025

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	08/19/2025		S		4,000(1)	D	$100.96	1,052,455.036	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. This sale was executed pursuant to a Rule 10b5-1 Plan that was entered into by the Reporting Person during an open trading window and disclosed by the Issuer on Form 8-K on November 22, 2024.

Remarks:

	/s/ Mary Marshall, by power of attorney	08/20/2025
	** 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 Kathryn J. McLay report on the Form 4 for WMT?

She reported a sale of 4,000 shares on 08/19/2025 at $100.96 per share, reducing her beneficial ownership to 1,052,455.036 shares.

Was the sale by the insider tied to a trading plan?

Yes. The sale was executed pursuant to a Rule 10b5-1 plan entered during an open trading window and disclosed on November 22, 2024.

What is Kathryn J. McLay's role at Walmart as listed on the filing?

She is listed as an Executive Vice President and the form indicates an officer relationship to the issuer.

When was the Form 4 signed and by whom?

The Form 4 was signed by Mary Marshall by power of attorney on 08/20/2025 on behalf of the reporting person.

How many shares did the reporting person own after the sale?

The filing reports 1,052,455.036 shares beneficially owned following the transaction.