Walmart SVP reports equity grant and tax withholding

Walmart Inc. SVP & Controller Dwayne M. Milum reported routine equity compensation activity.

Rhea-AI Filing Summary

Walmart Inc. SVP & Controller Dwayne M. Milum reported routine equity compensation activity. On March 9, 2026, he acquired 7,634.913 shares of Walmart common stock as a grant of restricted stock units earned for performance for the one-year period ended January 31, 2026. These restricted stock units are scheduled to vest on January 31, 2028, if he remains employed by the company on that date. On March 10, 2026, 178.222 shares were withheld at a price of $124.34 per share to cover tax withholding obligations upon the vesting of restricted stock, a non-market disposition. After these transactions, he directly held 49,806.151 Walmart shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Milum Dwayne M

Role SVP & Controller

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common	178.222	$124.34	$22K
Grant/Award	Common	7,634.913	$0.00	$0.00

Holdings After Transaction: Common — 49,806.151 shares (Direct)

Footnotes (3)

1. F1. Represents restricted stock units earned by Reporting Person upon achievement of performance goals for the one-year period ended Jan. 31, 2026, as certified by the Compensation and Management Development Committee on March 9, 2026. The restricted stock units are scheduled to vest Jan. 31, 2028, if Reporting Person remains employed by the Issuer on that date.
2. F2. Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock.
3. F3. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Walmart (WMT) executive Dwayne M. Milum report in this Form 4?

Dwayne M. Milum reported a routine equity compensation grant and related tax withholding. He received 7,634.913 Walmart shares as performance-based restricted stock units and had 178.222 shares withheld to satisfy tax obligations upon vesting of restricted stock.

How many Walmart (WMT) shares did Dwayne M. Milum acquire in this filing?

He acquired 7,634.913 shares of Walmart common stock at a stated price of $0.00 per share. These represent restricted stock units earned for performance, which are scheduled to vest on January 31, 2028, subject to his continued employment.

Why were 178.222 Walmart (WMT) shares disposed of in this Form 4?

The 178.222 shares were withheld to satisfy tax withholding obligations when restricted stock vested. This tax-withholding disposition is an administrative event handled by the company, not an open-market sale initiated for investment reasons.

When will Dwayne M. Milum’s new Walmart (WMT) restricted stock units vest?

The performance-based restricted stock units earned by Dwayne M. Milum are scheduled to vest on January 31, 2028. Vesting depends on him remaining employed by Walmart through that date, according to the compensation committee certification.

How many Walmart (WMT) shares does Dwayne M. Milum hold after these transactions?

Following the reported grant and tax withholding, Dwayne M. Milum directly holds 49,806.151 shares of Walmart common stock. This balance reflects adjustments including his participation in the Walmart Inc. 2016 Associate Stock Purchase Plan.

Is this Walmart (WMT) Form 4 a sign of discretionary insider buying or selling?

The filing reflects compensation-related activity rather than discretionary trading. It shows a performance-based restricted stock unit grant and shares withheld for taxes, with no open-market purchases or sales reported in these transactions.

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

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Accepted by SEC EDGAR 03/11/2026 - 07:24 PM Learn about SEC filing dates

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 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)
	SVP & Controller

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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	03/09/2026		A		7,634.913(1)	A	$0	49,984.373	D
Common	03/10/2026		F		178.222(2)	D	$124.34	49,806.151(3)	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 restricted stock units earned by Reporting Person upon achievement of performance goals for the one-year period ended Jan. 31, 2026, as certified by the Compensation and Management Development Committee on March 9, 2026. The restricted stock units are scheduled to vest Jan. 31, 2028, if Reporting Person remains employed by the Issuer on that date.

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

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

Remarks:

	/s/ Dirk Gardner, by power of attorney	03/11/2026
	** 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.
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