News Corp Director Settles Expiring DSUs for Cash & Receives Quarterly Award

Executive Summary

On October 1, 2026, Masroor Siddiqui, a Director of News Corp (NWS), engaged in routine director compensation transactions consisting of the scheduled cash settlement of maturing Deferred Stock Units (DSUs) and a quarterly grant of new DSUs.

Transaction Details

1. Settlement of Maturing DSUs:

   • Derivative Conversion (Code M): 1,917 DSUs were exercised and converted to 1,917 shares of Class A Common Stock.
   • Disposition (Code D): The 1,917 deemed common shares were immediately settled for cash at $28.64 per share, resulting in gross cash proceeds of $54,902.88. As noted in the filing footnotes, these units became payable on October 1, 2026, representing the first trading day of the quarter five years following their initial grant.

2. Routine DSU Award (Code A):

   • Siddiqui acquired 1,702 Deferred Stock Units at an award price of $28.64 per unit as part of standard board compensation.
   • These newly granted units become payable in cash on the earlier of five years post-grant or cessation of board service.

Ownership Post-Transaction

• Direct Common Stock Holdings: 0 shares.
• Deferred Stock Units: 40,972 units (including accumulated dividend equivalents).

Market Impact & Significance

• Significance Level: Low.
• The transactions represent scheduled, non-discretionary corporate governance and board compensation mechanisms rather than open-market buying or selling sentiment.