McMillon C Douglas 4

What Happened
Doug McMillon, a Director of Walmart Inc. (WMT), had 232,232.606 shares withheld to satisfy tax withholding obligations upon the vesting of performance-based restricted stock units (RSUs). The withholding was recorded at $119.14 per share, for a total value of $27,668,193. This was a tax-withholding disposal of shares (code F), not an open-market sale.

Key Details

• Transaction date: 2026-01-31; Filing date (Form 4): 2026-02-03 (timely filing).
• Price used: $119.14 per share.
• Shares withheld/disposed: 232,232.606 (reported).
• Total value: $27,668,193 (based on the per-share price).
• Post-transaction shares: not specified in the provided excerpt; footnote F2 notes the balance was adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.
• Footnote F1: withholding represents stock units withheld to satisfy tax withholding obligations upon vesting of performance-based RSUs.
• Transaction code: F (tax withholding), not a purchase (P) or sale (S).

Context: This was a routine tax-withholding transaction tied to RSU vesting, which reduces the number of shares issued to the insider rather than indicating an open-market sale or a change in sentiment. For retail investors, such withholdings are common when equity awards vest and should not be interpreted as a directional trade by the insider.