WMT Form 4: SVP Chojnowski shares withheld for taxes after RSU vesting

Rhea-AI Filing Summary

David Chojnowski, Senior Vice President of Walmart Inc. (WMT), reported a disposition of 250.419 shares of Walmart common stock on 08/12/2025 at a reported price of $103.93 per share. The filing states these shares were withheld to satisfy tax withholding obligations upon vesting of restricted stock. After the transaction, Mr. Chojnowski beneficially owned 144,182.995 shares. The Form 4 was signed by power of attorney on 08/14/2025.

Insights

Corporate Governance Expert

TL;DR: Routine tax-withholding disposition tied to restricted stock vesting; no indication of voluntary cash sale or change in role.

The reported transaction is characterized in the filing as shares withheld to meet tax obligations when restricted stock vested, which is a common administrative disposition and typically not indicative of a change in insider sentiment or corporate governance. The number of shares withheld (250.419) is small relative to the insider's remaining beneficial ownership (144,182.995), and the filing provides the required disclosure without additional qualifiers.

Securities Analyst

TL;DR: Administrative share withholding reported; transaction appears non-material to shareholder base or company valuation.

The Form 4 shows a single disposition at $103.93 per share labeled with transaction code F, and includes an explanatory footnote that the shares were withheld for tax withholding upon restricted stock vesting. No additional derivative transactions, large sales, or other compensatory changes are disclosed. The filing meets reporting requirements and signals no material change in the insider's ownership stake beyond the administrative adjustment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Chojnowski David

Role Senior Vice President

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	250.419	$103.93	$26K

Holdings After Transaction: Common Stock — 144,182.995 shares (Direct)

Footnotes (1)

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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^*

Chojnowski David

(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)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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 Stock	08/12/2025		F		250.419(1)	D	$103.93	144,182.995	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	08/14/2025
	** 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.
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.

FAQ

What transaction did David Chojnowski report on Form 4 for WMT?

He reported a disposition of 250.419 shares of Walmart common stock on 08/12/2025 at a price of $103.93 per share.

Why were the shares disposed according to the Form 4?

The filing states the shares were withheld to satisfy tax withholding obligations upon the vesting of restricted stock.

How many Walmart shares does the reporting person beneficially own after the transaction?

After the reported transaction, the filing shows beneficial ownership of 144,182.995 shares.

When was the Form 4 signed and by whom?

The form was signed by /s/ Mary Marshall, by power of attorney on 08/14/2025.

What transaction code was used on the Form 4?

The transaction is reported with code F, which the filing pairs with the explanation about tax withholding on vested restricted stock.