Walmart (WMT) director Randall Stephenson receives 419 deferred stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Walmart Inc. director Randall L. Stephenson received a grant of 419 common stock units as part of his quarterly director compensation. The units were valued using Walmart’s closing stock price of $113.26 on the grant date and were elected in deferred form rather than cash.

Following this award, Stephenson directly holds a total of 67,444.7753 Walmart common shares and stock units, with the balance also reflecting shares acquired through a dividend reinvestment plan. This filing describes routine, compensation-related equity accrual rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider STEPHENSON RANDALL L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common	419	$113.26	$47K

Holdings After Transaction: Common — 67,444.775 shares (Direct, null)

Footnotes (1)

Represents quarterly director compensation, which the Reporting Person elected to defer in the form of stock units. The number of stock units was determined by using the closing price of the Issuer's common stock on the date of grant. Balance adjusted to reflect shares acquired under a dividend reinvestment plan.

Key Figures

Stock units granted: 419 units Grant valuation price: $113.26 per share Total holdings after transaction: 67,444.7753 shares/units

3 metrics

Stock units granted 419 units Quarterly director compensation grant

Grant valuation price $113.26 per share Closing price used to determine units

Total holdings after transaction 67,444.7753 shares/units Direct holdings following grant and reinvestment

Key Terms

stock units, dividend reinvestment plan, director compensation

3 terms

stock units financial

"Represents quarterly director compensation, which the Reporting Person elected to defer in the form of stock units."

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

dividend reinvestment plan financial

"Balance adjusted to reflect shares acquired under a dividend reinvestment plan."

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

director compensation financial

"Represents quarterly director compensation, which the Reporting Person elected to defer in the form of stock units."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:26 PM Accepted by SEC EDGAR 07/02/2026 - 04:25 PM

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^*

STEPHENSON RANDALL L

(Last)

(First)

(Middle)

1 CUSTOMER DRIVE

(Street)

BENTONVILLE

ARKANSAS

72716

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common	06/30/2026		A		419⁽¹⁾	A	$113.26	67,444.7753⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents quarterly director compensation, which the Reporting Person elected to defer in the form of stock units. The number of stock units was determined by using the closing price of the Issuer's common stock on the date of grant.

2. Balance adjusted to reflect shares acquired under a dividend reinvestment plan.

Remarks:

	/s/ Mary Marshall, by power of attorney	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Walmart (WMT) director Randall L. Stephenson report in this Form 4?

He reported receiving 419 Walmart common stock units as quarterly director compensation. The award was taken in deferred stock units instead of cash and is based on Walmart’s closing share price on the grant date.

Was Randall L. Stephenson’s Walmart Form 4 transaction a stock purchase or sale?

It was neither an open-market purchase nor a sale. The Form 4 shows a grant of 419 stock units categorized as director compensation, elected in deferred stock units using the stock’s closing price on the grant date.

What price was used to determine Randall L. Stephenson’s 419 Walmart stock units?

The 419 stock units were determined using Walmart’s common stock closing price of $113.26 on the grant date. This price set the number of units issued under his quarterly director compensation arrangement.

How many Walmart shares does Randall L. Stephenson hold after this Form 4 transaction?

After the grant, he directly holds 67,444.7753 Walmart common shares and stock units. This total also reflects adjustments from shares acquired through a dividend reinvestment plan, as noted in the filing footnotes.

What do the footnotes in Randall L. Stephenson’s Walmart Form 4 explain?

They explain that the 419 units represent quarterly director compensation deferred into stock units, calculated using the closing price, and that his balance was adjusted for additional shares acquired via a dividend reinvestment plan.