Tax withholding trims Walmart (NYSE: WMT) SVP Milum’s share count

Rhea-AI Filing Summary

Walmart Inc. SVP & Controller Dwayne M. Milum reported a routine tax-related share disposition. On May 5, 2026, 121.742 shares of Walmart common stock were withheld at $130.33 per share to satisfy tax obligations tied to vesting restricted stock. After this withholding, Milum directly holds 49,508.903 shares of Walmart common stock. This Form 4 reflects tax withholding, not an open-market sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Milum Dwayne M

Role SVP & Controller

Type	Security	Shares	Price	Value
Tax Withholding	Common	121.742	$130.33	$16K

Holdings After Transaction: Common — 49,508.903 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares withheld for taxes: 121.742 shares Withholding price: $130.33 per share Shares held after transaction: 49,508.903 shares +1 more

4 metrics

Shares withheld for taxes 121.742 shares Tax withholding on restricted stock vesting

Withholding price $130.33 per share Value used for tax-withholding disposition

Shares held after transaction 49,508.903 shares Direct ownership after May 5, 2026 transaction

Transaction date May 5, 2026 Form 4 tax-withholding disposition date

Key Terms

restricted stock, tax withholding obligations, Form 4, transaction code F

4 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."

Form 4 regulatory

"This Form 4 reflects tax withholding, not an open-market sale."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

transaction code F regulatory

"Transaction code F on the Form 4 indicates payment of an exercise price or tax liability using shares."

Form 4 Insider Transactions: What Each Field Means →

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)
05/05/2026

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	05/05/2026		F		121.742(1)	D	$130.33	49,508.903	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.

Remarks:

	/s/ Mary Marshall, by power of attorney	05/07/2026
	** 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 Walmart (WMT) disclose for Dwayne M. Milum?

Walmart disclosed that SVP & Controller Dwayne M. Milum had 121.742 common shares withheld for taxes. The withholding occurred upon the vesting of restricted stock and represents a routine tax-related disposition reported on a Form 4 filing.

Was the Walmart (WMT) insider transaction an open-market sale?

No, the transaction was not an open-market sale. The 121.742 Walmart common shares were withheld to satisfy tax withholding obligations when restricted stock vested, a standard non-market event that does not reflect an active trading decision.

How many Walmart (WMT) shares were withheld for Dwayne M. Milum’s taxes?

A total of 121.742 Walmart common shares were withheld to cover Dwayne M. Milum’s tax obligations. The shares were valued at $130.33 per share, according to the Form 4 insider transaction disclosure filed with regulators.

What is Dwayne M. Milum’s Walmart (WMT) shareholding after this Form 4?

After the tax-withholding disposition, Dwayne M. Milum directly holds 49,508.903 shares of Walmart common stock. This post-transaction share count is reported in the Form 4 as his direct ownership following the restricted stock vesting event.

What triggered the tax withholding transaction for Walmart (WMT) insider Dwayne M. Milum?

The tax withholding was triggered by the vesting of restricted stock previously granted to Dwayne M. Milum. When those restricted shares vested, 121.742 shares were withheld automatically to satisfy associated tax liabilities, as noted in the filing footnote.

What does transaction code F mean in the Walmart (WMT) Form 4?

Transaction code F on the Form 4 indicates payment of an exercise price or tax liability using shares. In this case, it reflects that 121.742 Walmart shares were withheld from Dwayne M. Milum to cover tax withholding obligations tied to restricted stock vesting.