[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Walmart Inc. President and CEO Doug McMillon reported a sale of Walmart common stock. On 11/28/2025, he sold 19,416 shares of Walmart common stock at a weighted average price of $109.5658 per share, coded as an open market sale. The transaction was made under a pre-arranged Rule 10b5-1 trading plan that was entered into during an open trading window and previously disclosed on a Form 8-K on March 17, 2025.

Following this sale, McMillon beneficially owned 4,334,747.35 shares of Walmart common stock directly, and additional shares indirectly through a 401(k) plan, various trusts for children and spouse, a marital trust, and a trust for his wife and himself. No derivative securities were reported in this filing.

Insider Trade Summary

Net Seller: 19,416 shares ($2,127,330)

Net Sell 8 txns

Insider McMillon C Douglas

Role President and CEO

Sold 19,416 shs ($2.13M)

Type	Security	Shares	Price	Value
Sale	Common	19,416	$109.5658	$2.13M
holding	Common	--	--	--
holding	Common	--	--	--
holding	Common	--	--	--
holding	Common	--	--	--
holding	Common	--	--	--
holding	Common	--	--	--
holding	Common	--	--	--

Holdings After Transaction: Common — 4,334,747.35 shares (Direct); Common — 5,773.866 shares (Indirect, By 401(k))

Footnotes (1)

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 $109.48 to $109.63, 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. Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

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).

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 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)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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	11/28/2025		S		19,416(1)	D	$109.5658	4,334,747.35(2)	D
Common								5,773.8663	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 $109.48 to $109.63, 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/ Dirk Gardner, by power of attorney	12/02/2025
	** 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 insider transaction did Walmart (WMT) report in this Form 4?

Walmart reported that its President and CEO, Doug McMillon, sold 19,416 shares of Walmart common stock on 11/28/2025 at a weighted average price of $109.5658 per share.

Was the Walmart (WMT) CEO’s stock sale made under a Rule 10b5-1 plan?

Yes. The filing states the sale was executed pursuant to a Rule 10b5-1 Plan that was entered into during an open trading window and disclosed by Walmart on Form 8-K on March 17, 2025.

How many Walmart (WMT) shares does the CEO beneficially own after the reported sale?

After the transaction, Doug McMillon beneficially owned 4,334,747.35 shares of Walmart common stock directly, plus additional indirect holdings through a 401(k) plan and several family and marital trusts.

What was the price range for the Walmart (WMT) CEO’s stock sale on 11/28/2025?

The filing notes the sale was executed in multiple trades with prices ranging from $109.48 to $109.63 per share, and the reported price of $109.5658 is the weighted average sale price.

Does the Walmart (WMT) CEO hold Walmart shares indirectly?

Yes. In addition to direct holdings, the CEO has indirect beneficial ownership through a 401(k) plan and several trusts, including trusts for children, a marital trust, a trust for his wife, and a trust for his wife and himself.

Were any derivative securities reported for Walmart (WMT) in this insider filing?

No derivative securities were reported. Table II for derivative securities does not list any acquired, disposed, or beneficially owned derivative positions.