Walmart Inc. (NASDAQ: WMT) SVP Milum reports 121 shares withheld for taxes

Rhea-AI Filing Summary

Walmart executive Dwayne M Milum, SVP & Controller, reported a compensation-related share adjustment. 121.178 common shares at $114.78 per share were withheld to satisfy tax withholding obligations upon the vesting of restricted stock, leaving him with 49,272.811 Walmart common shares held directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Milum Dwayne M

Role SVP & Controller

Type	Security	Shares	Price	Value
Tax Withholding	Common	121.178	$114.78	$14K

Holdings After Transaction: Common — 49,272.811 shares (Direct)

Footnotes (1)

1. Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Key Figures

Shares withheld for taxes: 121.178 shares Withholding price per share: $114.78 per share Shares held after transaction: 49,272.811 shares +1 more

4 metrics

Shares withheld for taxes 121.178 shares Common shares withheld to satisfy tax obligations on restricted stock vesting

Withholding price per share $114.78 per share Price applied to the 121.178 shares withheld for tax obligations

Shares held after transaction 49,272.811 shares Direct Walmart common shares held by Dwayne M Milum following the withholding

Tax-withholding transactions 1 transaction Single Form 4 transaction classified as tax-withholding disposition (code F)

Key Terms

restricted stock, tax withholding obligations, Associate Stock Purchase Plan

3 terms

restricted stock financial

"Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

tax withholding obligations financial

"Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock."

Associate Stock Purchase Plan financial

"Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan."

A company program that lets employees buy the company’s shares at a discount, often through payroll deductions over a set offering period. Like a discount buying club for staff, it encourages workers to own a piece of the business, aligning their interests with shareholders and boosting retention. For investors, such plans can signal employee confidence and create steady demand for shares but may also slightly increase share count over time.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/16/2026 - 06:05 PM Accepted by SEC EDGAR 07/16/2026 - 06:05 PM Learn about SEC filing dates

FAQ

What insider transaction did Walmart (WMT) executive Dwayne M Milum report?

Dwayne M Milum reported a tax-withholding disposition of 121.178 Walmart common shares at $114.78 per share. The shares were withheld to cover tax obligations when restricted stock vested, rather than sold in an open-market transaction.

How many Walmart (WMT) shares does Dwayne M Milum hold after this transaction?

After the tax-withholding event, Dwayne M Milum holds 49,272.811 Walmart common shares directly. This reflects an adjustment noted as aligning with the current balance in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Was the Walmart (WMT) insider transaction by Dwayne M Milum an open-market sale?

No, the transaction was a Form F tax-withholding event, not an open-market sale. Shares were withheld to satisfy tax obligations on vested restricted stock, a routine compensation-related adjustment rather than a discretionary sale of shares.

What price was used for the tax-withholding shares in the Walmart (WMT) transaction?

The 121.178 Walmart common shares withheld for taxes were valued at $114.78 per share. This price applies to the tax-withholding disposition linked to the vesting of restricted stock reported by Dwayne M Milum.

How significant is Dwayne M Milum’s withheld amount relative to his Walmart (WMT) holdings?

The withholding covered 121.178 shares, while Milum continues to hold 49,272.811 shares directly. This indicates the tax-withholding adjustment affects only a small portion of his overall reported Walmart share position.

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^*

Milum Dwayne M

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2026

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	07/14/2026		F		121.178(1)	D	$114.78	49,272.811(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 shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock.

2. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Remarks:

	/s/ Mary Marshall, by power of attorney	07/16/2026
	** 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)