[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Daniel J. Bartlett, Executive Vice President of Walmart Inc. (WMT), reported a sale of 1,655 shares of Walmart common stock on 08/15/2025 at a weighted average price of $100.3768 per share. The sale was executed pursuant to a Rule 10b5-1 trading plan that the reporting person adopted and that the issuer disclosed on March 28, 2024. After the reported transaction, the filing shows beneficial ownership of 647,577.662 shares held directly. The Form 4 signature was provided under power of attorney by Mary Marshall on 08/19/2025. The filer states the sale was executed in multiple trades with prices ranging from $100.31 to $100.44, and offers to provide full trade details on request.

Positive

• Sale executed under a disclosed Rule 10b5-1 plan, which supports preplanned, non-discretionary trading and reduces questions about timing.
• Transaction disclosure includes weighted-average price and price range ($100.3768; $100.31–$100.44), improving transparency about execution.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine, preplanned insider sale under a disclosed 10b5-1 plan; transparency reduces governance concerns.

The reported transaction is a voluntary, pre-authorized sale executed under a Rule 10b5-1 plan, which the company previously disclosed. Using a 10b5-1 plan typically limits questions about opportunistic timing by insiders because trades follow an established schedule or algorithm rather than discretionary decisions. The filing provides a weighted average price and a price range, and the reporting person affirms availability of detailed trade information on request, which supports disclosure quality. Given the small size of the sale relative to total beneficial holdings shown, this is unlikely to signal a change in insider view of company fundamentals.

Securities Analyst

TL;DR: Minor executed sale, procedural disclosure only; not materially informative for valuation.

The sale of 1,655 shares at a weighted average of $100.3768 represents a modest reduction relative to the reported ~647,578 shares owned after the trade. The transaction was performed within a disclosed 10b5-1 plan and executed in multiple trades across a tight price band ($100.31–$100.44), indicating execution within normal market activity. There are no derivative transactions reported and no indications of unusual or ad hoc insider selling. For investors, this Form 4 provides transparency but does not by itself change the company’s financial profile.

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^*

Bartlett Daniel J

(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)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		S		1,655(1)	D	$100.3768	647,577.662	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. 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 28, 2024. This sale was executed in multiple trades ranging from $100.31 to $100.44, inclusive. The price reported above represents the weighted average purchase 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.

Remarks:

	/s/ Mary Marshall, by power of attorney	08/19/2025
	** 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 did Walmart insider Daniel J. Bartlett sell on 08/15/2025 (WMT)?

The filing reports a sale of 1,655 shares of Walmart common stock on 08/15/2025 at a weighted average price of $100.3768 per share.

Was the Bartlett sale (WMT) part of a 10b5-1 plan?

Yes. The sale was executed pursuant to a Rule 10b5-1 trading plan that was entered during an open trading window and disclosed by the issuer on March 28, 2024.

How many Walmart shares did Bartlett own after the reported transaction?

The Form 4 shows beneficial ownership of 647,577.662 shares following the transaction.

Who signed the Form 4 filing for Bartlett and when?

The Form 4 was signed under power of attorney by Mary Marshall on 08/19/2025.

What price range did the reported 1,655-share sale execute at?

The sale was executed in multiple trades with prices ranging from $100.31 to $100.44, per the filing.