Walmart Director Randall Stephenson Receives Routine Quarterly Equity Compensation

Executive Summary

On October 2, 2026, Walmart Inc. ($WMT) director Randall L. Stephenson reported the acquisition of 457 shares of common stock (in the form of deferred stock units) dated September 30, 2026. This transaction represents standard quarterly director compensation deferred into stock units, carrying a transaction price of $0.00.

Transaction Details

• Insider: Randall L. Stephenson, Director
• Transaction Date: September 30, 2026
• Security: Common Stock (Stock Units)
• Transaction Code: A (Grant/Award)
• Shares Acquired: 457 shares
• Price per Share: $0.00
• Post-Transaction Beneficial Ownership: 67,976.5 shares

Key Takeaways

• Routine Compensation: Per footnote F1, the shares represent regular quarterly director fees that Stephenson chose to defer into stock units based on the market closing price on the grant date.
• Portfolio Context: Following this award, Stephenson holds 67,976.5 shares/units directly, including previous dividend reinvestments and phantom stock units acquired as dividend equivalents.
• Market Impact: This is an ordinary course administrative transaction and conveys no non-public directional bias regarding Walmart's operational outlook.