Walmart said on September 22, 2025 that it was informed that Donna Morris, Executive Vice President and Chief People Officer, entered into a stock trading plan designed to comply with Rule 10b5-1 (the Plan). The company said Ms. Morris will have no discretion or control over the timing or execution of transactions under the Plan.

1. 01

   Walmart said on September 22, 2025 that it was informed that Donna Morris, Executive Vice President and Chief People Officer, entered into a stock trading plan designed to comply with Rule 10b5-1 (the Plan). The company said Ms. Morris will have no discretion or control over the timing or execution of transactions under the Plan.

2. 02

   The company said the Plan calls for Ms. Morris to sell the net shares remaining after tax withholding from the vesting of 14,425 shares of Common Stock on January 13, 2026 and from the vesting of 134,240 shares of Common Stock on January 31, 2026.

3. 03

   The company said the maximum number of shares to be sold under the Plan is 148,665, before shares withheld for taxes upon vesting. It said sales are scheduled to begin on January 13, 2026, subject to a minimum stock price threshold. The Plan will expire on the earlier of July 13, 2026 or the sale of all applicable shares.

4. 04

   Walmart said Ms. Morris continues to be subject to the company’s stock ownership guidelines, which require her to hold company stock equal in value to at least 5 times her base salary. It said she will continue to meet these requirements upon the conclusion of each sale under the Plan. The company said transactions under the Plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission to the extent required by law.

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Original filing

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