[Form 4] Walmart Inc. Insider Trading Activity

Rhea-AI Filing Summary

Walmart Inc. (WMT) Form 4 filing: Director Robert Edward Moritz Jr. reported the automatic acquisition of 267 shares of Walmart common stock on 06/30/2025. The transaction was coded “A” for acquisition and represents quarterly board compensation that the director elected to receive in stock rather than cash. Following the award, Moritz beneficially owns 10,982 shares, held directly. No derivative securities were involved. The shares were valued using Walmart’s closing price on the grant date, although the price field shows $0 because the grant is considered a compensation award rather than an open-market purchase.

The filing reflects routine director compensation and does not indicate any change in Walmart’s fundamentals or strategic outlook. Given Walmart’s ~2.7 billion shares outstanding, the 267-share increase (<0.00001% of shares) is immaterial from a valuation perspective. Nonetheless, continued equity compensation modestly aligns the director’s interests with shareholders.

Insights

Corporate Governance Specialist

TL;DR: Routine 267-share director stock award; negligible ownership change, neutral market impact.

The Form 4 documents a standard quarterly equity retainer for Director Robert Moritz. Electing stock over cash marginally boosts insider alignment but, at under 11 k shares total, his stake remains economically insignificant relative to Walmart’s size. No purchase decision or valuation signal is implied, and the event does not alter governance dynamics or capital structure. I classify the disclosure as not impactful for investment theses.

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

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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).

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^*

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)
06/30/2025

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	06/30/2025		A		267(1)	A	$0	10,982	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.

	/s/ Geoffrey W. Edwards, by power of attorney	07/01/2025
	** 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

How many Walmart (WMT) shares did Director Robert Moritz acquire?

He received 267 shares as part of his quarterly board compensation.

What was the transaction date in the Walmart Form 4?

The shares were granted on 06/30/2025.

What is the director's total beneficial ownership after the transaction?

Robert Moritz now owns 10,982 Walmart shares directly.

Was cash paid for the shares acquired?

No. The Form 4 shows a $0 price because the shares were issued as compensation, not bought on the open market.

Does the filing involve any derivative securities?

No derivative securities were reported in this Form 4.