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Fox Corp·4

Mar 13, 8:01 PM ET

MURDOCH LACHLAN K 4

4 · Fox Corp · Filed Mar 13, 2026

Research Summary

AI-generated summary of this filing

Updated

Fox Corp (FOX) Executive Chair Lachlan Murdoch Exercises Options, Sells Shares

What Happened

  • Lachlan K. Murdoch, Executive Chair and CEO of Fox Corp (FOX), exercised stock options on March 11–13, 2026 and concurrently sold shares in multiple open-market transactions. He exercised a total of 952,384 shares (242,747; 247,257; 86,697; 375,683) at exercise prices of $40.26 and $36.00, paying about $36.74M in aggregate.
  • Over March 11–13 he sold a total of 1,127,756 shares in open-market trades at weighted prices across several ranges for aggregate proceeds of about $65.40M. He also purchased 175,372 shares on March 13 for $10.63M (same quantity/price reflected in a sale to the LKM Family Trust). The total number of shares acquired (exercises + purchase) equals the total number sold, consistent with a cashless exercise/transfer pattern.

Key Details

  • Dates & prices: exercises on 2026-03-11, 03-12 and 03-13 (strikes $40.26 and $36.00); sales executed 03-11–03-13 at weighted prices in ranges reported (see footnotes for per-trade ranges); one open-market purchase on 03-13 at $60.63.
  • Aggregate counts and amounts: exercised 952,384 shares (paid ~$36.74M); sold 1,127,756 shares (proceeds $65.40M); purchased 175,372 shares ($10.63M).
  • Shares owned after transaction: not provided in the data you supplied.
  • Notable footnotes: several sales were effected under a Rule 10b5-1 plan adopted Dec 2, 2025; a block of 175,372 shares was sold to the LKM Family Trust (administered by an independent trustee for Mr. Murdoch’s benefit and his family/charities); options exercised stem from grants that vested in 2020–2022 (per vesting-footnotes).
  • Timeliness: Form 4 filed 2026-03-13 for transactions beginning 2026-03-11 — filed within the normal 2-business-day window (no late filing flag).

Context

  • Derivative explanation: “M” transactions are option exercises (the filing also shows corresponding derivative disposals at $0.00 to reflect conversion). Because the number of shares acquired via exercise plus an open-market purchase equals the number sold, this appears to be a cashless exercise/transfer pattern rather than an outright accumulation of new shares.
  • What it means for investors: routine option exercises followed by sales are common for executives to cover exercise costs, taxes or to transfer shares to trusts; these trades are factual disclosures and do not by themselves indicate a change in company outlook.

Insider Transaction Report

Form 4
Period: 2026-03-11
Fox CorpFOX
MURDOCH LACHLAN K
DirectorExecutive Chair, CEO
Transactions
  • Exercise/Conversion

    Class A Common Stock

    [F1]
    2026-03-11$40.26/sh+242,747$9,772,994→ 418,271 total
  • Sale

    Class A Common Stock

    [F1][F2]
    2026-03-11$57.73/sh−240,404$13,878,523→ 177,867 total
  • Sale

    Class A Common Stock

    [F1][F3]
    2026-03-11$58.31/sh−2,343$136,620→ 175,524 total
  • Exercise/Conversion

    Class A Common Stock

    [F1]
    2026-03-12$40.26/sh+247,257$9,954,567→ 422,781 total
  • Sale

    Class A Common Stock

    [F1][F4]
    2026-03-12$57.68/sh−239,357$13,806,112→ 183,424 total
  • Sale

    Class A Common Stock

    [F1][F5]
    2026-03-12$58.06/sh−7,900$458,674→ 175,524 total
  • Exercise/Conversion

    Class A Common Stock

    [F1]
    2026-03-13$40.26/sh+86,697$3,490,421→ 262,221 total
  • Exercise/Conversion

    Class A Common Stock

    [F1]
    2026-03-13$36.00/sh+375,683$13,524,588→ 637,904 total
  • Sale

    Class A Common Stock

    [F1][F6]
    2026-03-13$56.65/sh−151,265$8,569,162→ 486,639 total
  • Sale

    Class A Common Stock

    [F1][F7]
    2026-03-13$57.51/sh−295,677$17,004,384→ 190,962 total
  • Sale

    Class A Common Stock

    [F1][F8]
    2026-03-13$58.45/sh−9,438$551,651→ 181,524 total
  • Sale

    Class A Common Stock

    [F1][F9]
    2026-03-13$59.68/sh−5,100$304,368→ 176,424 total
  • Sale

    Class A Common Stock

    [F1][F10]
    2026-03-13$60.44/sh−900$54,396→ 175,524 total
  • Sale

    Class A Common Stock

    [F1][F11]
    2026-03-13$60.63/sh−175,372$10,632,804→ 152 total
  • Purchase

    Class A Common Stock

    [F1][F11]
    2026-03-13$60.63/sh+175,372$10,632,804→ 1,251,779 total(indirect: By Trust)
  • Exercise/Conversion

    Stock Option (Right to Buy)

    [F1][F12]
    2026-03-11−242,747→ 333,954 total
    Exercise: $40.26Exp: 2026-03-19→ Class A Common Stock (242,747 underlying)
  • Exercise/Conversion

    Stock Option (Right to Buy)

    [F1][F12]
    2026-03-12−247,257→ 86,697 total
    Exercise: $40.26Exp: 2026-03-19→ Class A Common Stock (247,257 underlying)
  • Exercise/Conversion

    Stock Option (Right to Buy)

    [F1][F12]
    2026-03-13−86,697→ 0 total
    Exercise: $40.26Exp: 2026-03-19→ Class A Common Stock (86,697 underlying)
  • Exercise/Conversion

    Stock Option (Right to Buy)

    [F1][F13]
    2026-03-13−375,683→ 0 total
    Exercise: $36.00Exp: 2026-08-05→ Class A Common Stock (375,683 underlying)
Footnotes (13)
  • [F1]Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
  • [F10]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $60.37 to $60.63 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F11]The reporting person sold the reported securities to the LKM Family Trust, which is administered by an independent trustee for the benefit of the reporting person, his immediate family members and certain charitable organizations.
  • [F12]The stock options were granted under an award that vested 50% on June 15, 2020 and 50% on June 15, 2021.
  • [F13]The stock options were granted under an award that vested one-third on each of August 15, 2020, August 15, 2021 and August 15, 2022.
  • [F2]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.28 to $58.27 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F3]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.28 to $58.35 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F4]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.02 to $58.01 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F5]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.02 to $58.12 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F6]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $56.19 to $57.185 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F7]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.19 to $58.18 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F8]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.20 to $59.08 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
  • [F9]The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $59.25 to $60.21 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
Signature
/s/ Laura A. Cleveland as Attorney-in-Fact for Lachlan K. Murdoch|2026-03-13

Documents

1 file
  • 4
    wk-form4_1773446491.xmlPrimary

    FORM 4