[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Walmart director Moritz Robert Edward Jr. elected to receive his quarterly director compensation in the form of 279 shares of Walmart common stock on 09/30/2025. The shares were valued using the closing price on the grant date of $103.06 per share. After the transaction, the reporting person beneficially owned 11,261 shares. The Form 4 was signed by power of attorney on 10/02/2025.

Positive

• 279 shares received as compensation indicate alignment with shareholders through equity
• Beneficial ownership increased to 11,261 shares following the transaction

Negative

• None.

Insights

Corporate Governance Analyst

Director took compensation in stock, modestly increasing insider ownership.

The report shows a quarterly director compensation election converting pay into 279 shares at the closing price of $103.06 on 09/30/2025, which increases the director's stake to 11,261 shares.

This is a routine, non‑derivative transaction under normal director compensation practices and is reported under Section 16 rules; it does not indicate any change in executive roles or extraordinary corporate actions.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Moritz Robert Edward Jr.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		A		279(1)	A	$103.06	11,261	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 quarterly director compensation, which the Reporting Person elected to receive in the form of shares. The number of shares was determined by using the closing price of the Issuer's common stock on the date of grant.

Remarks:

	/s/ Dirk Gardner, by power of attorney	10/02/2025
	** 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 did Walmart director Moritz Robert Edward Jr. report on Form 4 (WMT)?

He reported receiving 279 shares as quarterly director compensation, elected in stock on 09/30/2025.

At what price were the shares in the Form 4 valued?

The shares were valued using the issuer's closing stock price on the grant date: $103.06 per share.

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

The Form 4 shows beneficial ownership of 11,261 shares following the reported transaction.

When was the Form 4 signed and who signed it?

The filing was signed by Dirk Gardner by power of attorney on 10/02/2025.

Was this a cash or stock election for director compensation?

The reporting person elected to receive compensation in the form of shares (stock).