Walmart Inc. — Director's Dealing 2025

Nov 25, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Walmart Inc. (WMT)
CIK: 0000104169
Period of Report: 2025-11-20

Reporting Person: Furner John R. (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-20	Common	S	3183	$103.3062	Disposed	889757.23	Direct
2025-11-20	Common	S	4519	$104.1484	Disposed	885238.23	Direct
2025-11-20	Common	S	2023	$105.7639	Disposed	883215.23	Direct
2025-11-20	Common	S	3400	$106.317	Disposed	879815.23	Direct
2025-11-21	Common	G	132850	—	Disposed	746965.23	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	132850	Indirect
Common	5639.4454	Indirect

Footnotes

F1: This sale was executed pursuant to a Rule 10b5-1 Plan that was entered into by the Reporting Person during an open trading window and disclosed by the Issuer on Form 8-K on March 17, 2025. This sale was executed in multiple trades ranging from $102.765 to $103.76, inclusive. The price reported above represents the weighted average purchase price. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which the transaction was effected.

F2: This sale was executed pursuant to a Rule 10b5-1 Plan that was entered into by the Reporting Person during an open trading window and disclosed by the Issuer on Form 8-K on March 17, 2025. This sale was executed in multiple trades ranging from $103.77 to $104.75, inclusive. The price reported above represents the weighted average purchase price. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which the transaction was effected.

F3: This sale was executed pursuant to a Rule 10b5-1 Plan that was entered into by the Reporting Person during an open trading window and disclosed by the Issuer on Form 8-K on March 17, 2025. This sale was executed in multiple trades ranging from $105.07 to $106.05, inclusive. The price reported above represents the weighted average purchase price. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which the transaction was effected.

F4: This sale was executed pursuant to a Rule 10b5-1 Plan that was entered into by the Reporting Person during an open trading window and disclosed by the Issuer on Form 8-K on March 17, 2025. This sale was executed in multiple trades ranging from $106.09 to $106.77, inclusive. The price reported above represents the weighted average purchase price. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares and prices at which the transaction was effected.

F5: Balance adjusted to reflect current shares held in the Walmart Inc. 2016 Associate Stock Purchase Plan.

F6: On November 21, 2025, the Reporting Person transferred 132,850 shares to a trust in which his spouse is the trustee and primary beneficiary.