[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Daniel Danker, Executive Vice President of Walmart Inc. (WMT), reported receipt of restricted common stock awards on August 18, 2025. The filing shows two non-derivative grants: 20,621 shares that vest in approximately equal installments on January 13, 2026, January 12, 2027, and January 11, 2028, and 206,207 shares that vest in approximately equal installments on August 25, 2026 and August 24, 2027. Both grants are reported with a transaction price of $0, indicating restricted stock awards rather than open-market purchases. Following these transactions, Danker beneficially owns 226,828 shares directly. The Form 4 was signed by power of attorney on August 20, 2025.

Insights

Financial Analyst

TL;DR Executive received substantial restricted stock awards totaling 226,828 shares, with multi-year vesting schedules.

The filing documents two restricted stock grants on August 18, 2025, reported at $0 price consistent with standard equity compensation. The awards total 226,828 shares beneficially owned after the grants, split between a smaller award vesting over three annual tranches starting January 2026 and a larger award vesting over two annual tranches starting August 2026. For investors, these are compensation events and do not reflect open-market buying or selling activity.

Corporate Governance Expert

TL;DR Officer equity grants align with typical executive compensation practices and include explicit vesting timelines.

The Form 4 identifies Daniel Danker as an Executive Vice President and reports restricted stock grants with clear vesting schedules through 2028. The disclosure is procedural and provides required transparency on insider ownership and vesting timelines. The signature by power of attorney and the detailed vesting dates meet disclosure norms for Section 16 reporting.

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

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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^*

Danker Daniel

(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)
08/18/2025

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	08/18/2025		A		20,621(1)	A	$0	20,621	D
Common	08/18/2025		A		206,207(2)	A	$0	226,828	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. Restricted stock granted on August 18, 2025, scheduled to vest in approximately equal installments on January 13, 2026, January 12, 2027, and January 11, 2028.

2. Restricted stock granted on August 18, 2025, scheduled to vest in approximately equal installments on August 25, 2026 and August 24, 2027.

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.
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