[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Walmart Inc. (WMT) has filed a Form 4 reporting that Executive Vice President John R. Furner sold 13,125 common shares on 17-Jul-2025 at a weighted-average price of $95.1356, for proceeds of roughly $1.25 million. The disposition was conducted under a pre-arranged Rule 10b5-1 trading plan adopted and disclosed on 17-Mar-2025.

Following the sale, Furner directly owns 932,312.867 shares and indirectly holds 5,625.8808 shares through the company’s 401(k) plan. The transaction therefore represents <1.5 % of his total reported holdings. No derivative securities were acquired or disposed of in this filing.

The document contains no new operational metrics, earnings data, or strategic announcements. Its significance is limited to insider-trading activity, which investors may track as a potential—though not definitive—sentiment indicator.

Positive

• None.

Negative

• EVP John R. Furner sold 13,125 shares (~$1.25 m); although plan-based and small, insider selling can be perceived negatively by some investors.

Insights

Securities Analyst

TL;DR: Routine 10b5-1 sale; size immaterial versus holdings, unlikely to impact WMT valuation.

The $1.25 million sale equals about 0.14 % of Walmart’s daily trading volume and <1.5 % of Furner’s stake, suggesting portfolio diversification rather than bearish intent. Rule 10b5-1 pre-planning minimizes information-asymmetry concerns. From a market-impact standpoint, the transaction is neutral; it neither signals financial distress nor materially reduces insider alignment, especially given Furner retains more than 930 k shares. No derivatives or unusual structures appear. I classify the filing as not impactful for valuation.

Corporate Governance Expert

TL;DR: Minor, pre-scheduled insider sale; governance controls intact, but cumulative activity warrants ongoing monitoring.

The sale was executed during an open window under a disclosed 10b5-1 plan—best-practice from a governance standpoint. The modest size relative to Furner’s ownership and absence of pattern selling limit red-flags. However, consistent insider dispositions across the C-suite can erode perceived commitment over time; investors should watch whether other executives follow suit. At present, the filing is procedurally clean and poses little governance risk.

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).

1. Name and Address of Reporting Person^*

Furner John R.

(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)
07/17/2025

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	07/17/2025		S		13,125(1)	D	$95.1356	932,312.867(2)	D
Common								5,625.8808(3)	I	By 401(k) plan

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 March 17, 2025. This sale was executed in multiple trades ranging from $94.97 to $95.3302, inclusive. The price reported above represents the weighted average purchase price. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which the transaction was effected.

2. Balance adjusted for shares acquired through the Walmart Inc. Associate Stock Purchase Plan.

3. Balance adjusted to reflect shares acquired through the Walmart Inc. 401(k) Plan.

Remarks:

	/s/ Jennifer F. Rudolph, by power of attorney	07/21/2025
	** 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.
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FAQ

What insider transaction did Walmart (WMT) report on 17-Jul-2025?

A Form 4 shows EVP John R. Furner sold 13,125 common shares.

At what price were the Walmart shares sold?

The weighted-average sale price was $95.1356 per share.

How many Walmart shares does John R. Furner still own after the sale?

He directly holds 932,312.867 shares and indirectly 5,625.8808 shares via the 401(k) plan.

Was the sale part of a Rule 10b5-1 trading plan?

Yes. The disposition was executed under a pre-arranged 10b5-1 plan adopted on 17-Mar-2025.

Were any derivative securities involved in this Form 4 filing?

No derivative acquisitions or dispositions were reported.