Planned Walmart (NYSE: WMT) insider sale of 19,416 shares by director

Rhea-AI Filing Summary

Walmart Inc. director C. Douglas McMillon reported an open-market sale of 19,416 shares of Walmart common stock at a weighted-average price of $123.1603 per share on March 26, 2026. The transaction was executed pursuant to a pre-arranged Rule 10b5-1 trading plan disclosed previously on Form 8-K.

After this sale, McMillon directly holds 4,213,405.581 Walmart shares. He also reports additional indirect holdings through a 401(k) plan and multiple family and trust accounts, which together represent a substantial continuing ownership position.

Insights

Equity compensation and insider-trading analyst

Director’s planned sale is small relative to his remaining stake.

The filing shows C. Douglas McMillon executed an open-market sale of 19,416 Walmart shares at a weighted-average price of $123.1603 per share. The transaction is coded as a sale and classified as a non-derivative trade in common stock.

The sale was carried out under a pre-established Rule 10b5-1 trading plan, which reduces the signaling value of its timing because trades are scheduled in advance. Following the sale, McMillon still directly owns 4,213,405.581 shares, plus additional indirect holdings via a 401(k) and several family and trust accounts.

Given the modest size of the sale relative to his reported direct position and the use of a 10b5-1 plan, this appears to be a routine liquidity or diversification transaction rather than a transformative change in insider ownership. Subsequent filings may provide further detail on any additional plan-driven trades.

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^*

McMillon C Douglas

(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)
03/26/2026

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	03/26/2026		S		19,416(1)	D	$123.1603	4,213,405.581(2)	D
Common								5,785.8872	I	By 401(k)
Common								415,203	I	By Trust for Children
Common								57,270	I	By Wife's Trust for Children
Common								173,466	I	By Marital Trust
Common								5,233	I	By Trust for Wife
Common								6,777	I	By Son
Common								395,970	I	By Wife's Trust for Children and Reporting Person

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 $123.09 to $123.25, inclusive. The price reported above represents the weighted average sale 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 to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Remarks:

	/s/ Mary Marshall, by power of attorney	03/27/2026
	** 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)

FAQ

What insider transaction did C. Douglas McMillon report for Walmart (WMT)?

C. Douglas McMillon reported an open-market sale of Walmart common stock. He sold 19,416 shares on March 26, 2026, as disclosed in a Form 4 filing, reflecting a routine insider transaction rather than a change in his role with the company.

How many Walmart shares did McMillon sell and at what price?

McMillon sold 19,416 Walmart common shares at a weighted-average price of $123.1603 per share. The sale was executed in multiple trades between $123.09 and $123.25, with the reported price representing the overall weighted-average sale price for the transaction.

Was McMillon’s Walmart share sale under a Rule 10b5-1 trading plan?

Yes, the sale was executed under a Rule 10b5-1 trading plan. The plan was entered into during an open trading window and previously disclosed on Form 8-K, indicating the trade was pre-scheduled rather than timed at McMillon’s discretion.

How many Walmart shares does McMillon own after this Form 4 transaction?

After the reported sale, McMillon directly holds 4,213,405.581 Walmart shares. He also reports several indirect positions, including shares held through a 401(k) plan and multiple family and trust accounts, which together further increase his overall economic exposure to Walmart stock.

What indirect Walmart shareholdings does McMillon report in this Form 4?

McMillon reports indirect holdings through a Walmart 401(k) plan and several trusts and family accounts. These include positions held by a 401(k), trusts for children and spouse, a marital trust, a trust for his wife, and shares held by his son, all classified as indirect ownership.

Does this Walmart insider sale indicate a major change in McMillon’s stake?

The filing shows a relatively small sale compared with McMillon’s remaining direct holdings. After selling 19,416 shares, he still directly owns over 4.2 million Walmart shares, plus additional indirect positions, suggesting his overall stake remains very substantial.