BANCROFT NATALIE 4

What Happened Natalie Bancroft, a director of News Corporation (NWS), had deferred stock units (DSUs) settled for their cash value on July 1, 2026. The filing shows cash settlement/derivative conversions and a simultaneous disposition to the issuer (shares withheld) to cover obligations. Key reported amounts: 1,891 DSU-equivalent shares with a cash value of $48,750, and 1,747 shares withheld/disposed to the issuer at $25.78 each for $45,038. These were cash-settled derivative transactions rather than open-market purchases or sales.

Key Details

• Transaction date: July 1, 2026; Form filed July 2, 2026 (timely).
• Reported items:
  • Conversion/exercise of derivative (M) relating to 1,747 DSUs.
  • Disposition to issuer (D) of 1,747 shares at $25.78 → $45,038 (withholding/disposition).
  • Grant/award acquisition (A) of 1,891 DSU-equivalent shares at $25.78 → $48,750 (cash value).
• Shares owned after transaction: Form does not report remaining common stock share count; the filing reports deferred stock units that become payable in cash per footnotes.
• Notable footnotes:
  • F1–F3/F5: DSUs were deemed settled for cash equal to an equivalent number of Class A shares and became payable in cash on July 1, 2026 (or earlier upon end of service).
  • F4: The reported DSUs include accrued dividend equivalents and are payable in cash on the earlier of five years after grant or end of service.
• No 10b5-1 plan or late filing flag is indicated.

Context

• This was not a market purchase or disposition expressing a trading view; it reflects cash settlement of deferred compensation (DSUs) and an issuer withholding/disposition (commonly used to cover taxes or obligations).
• For retail investors, purchases are typically more informative about insider sentiment; cash settlements of DSUs are routine compensation events and do not necessarily signal a buy or sell decision.