Walmart Inc. — Director's Dealing 2016

Dec 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WAL MART STORES INC (WMT)
CIK: 0000104169
Period of Report: 2016-12-20

Reporting Person: WALTON ALICE L (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-20	Common Stock	J	911500	—	Disposed	148506019	Indirect
2016-12-20	Common Stock	J	71500	—	Acquired	6820080	Direct
2016-12-22	Common Stock	G	71500	—	Disposed	6748580	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1415891131	Indirect

Footnotes

F1: The transaction is a distribution of 911,500 shares of Common Stock, for no consideration, by the Walton Family Holdings Trust (the "Trust") to certain beneficiaries of the Trust (the "Distribution").

F2: The reporting person is a trustee of the Trust, the entity that holds 148,506,019 shares of Common Stock following the Distribution. The reporting person disclaims beneficial ownership of the reported securities held by the Trust except to the extent of her pecuniary interest therein.

F3: The transaction is the receipt of 71,500 shares of Common Stock, for no consideration, in the Distribution.

F4: On December 22, 2016, the reporting person made a charitable gift of 71,500 shares of Common Stock.

F5: The reporting person is a member of Walton Enterprises, LLC, the entity that owns 1,415,891,131 shares of Common Stock. The reporting person disclaims beneficial ownership of the reported securities held by such LLC except to the extent of her pecuniary interest therein.