Walmart Inc. — Director's Dealing 2016

Nov 24, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WAL MART STORES INC (WMT)
CIK: 0000104169
Period of Report: 2016-11-21

Reporting Person: McMillon C Douglas (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-21	Common Stock	M	75063	$47.96	Acquired	867198.549	Direct
2016-11-21	Common Stock	S	75063	$69.0771	Disposed	792135.549	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-21	Stock Options	$47.96	M	75063	Disposed	2017-01-21	Common Stock (75063)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1645.7139	Indirect
Common Stock	5194	Indirect
Common	75954	Indirect
Common	75374	Indirect
Common	1741	Indirect

Footnotes

F1: These shares were acquired by the Reporting Person upon the exercise of stock options as reported in Table II of this Form 4. The expiration date for such options was January 21, 2017. A portion of the proceeds from the sale of these shares was used to cover the exercise price and applicable tax withholding, fees, and commissions. The Reporting Person elected to receive the remainder of the proceeds of the sale of the 75,063 shares in the form of cash. Therefore, there was no net increase or reduction in the Reporting Person's share ownership.

F2: Balance adjusted to reflect shares acquired through the Wal-Mart Stores, Inc. Associate Stock Purchase Plan.

F3: These shares were acquired by the Reporting Person upon the exercise of stock options as reported in Table II of this Form 4. The expiration date for such options was January 21, 2017. A portion of the proceeds from the sale of these shares was used to cover the exercise price and applicable tax withholding, fees, and commissions. The Reporting Person elected to receive the remainder of the proceeds of the sale of the 75,063 shares in the form of cash. Therefore, there was no net increase or reduction in the Reporting Person's share ownership.

F4: Balance adjusted to reflect shares acquired through the Walmart 401(k) Plan.

F5: The option is exercisable in five equal annual installments beginning on January 22, 2008.