Form 4: Fox Corp. Director Ryan Accrues Additional Stock Units

Paul D. Ryan, a Director at Fox Corporation, reported the accrual of 143 deferred stock units as dividend equivalents.

Summary

• Paul D. Ryan, a Director of Fox Corporation, reported an acquisition of 143 Deferred Stock Units (DSUs).
• These DSUs represent dividend equivalents accrued with respect to his existing deferred stock units.
• Each DSU is equivalent to one share of Fox Corporation's Class A Common Stock.
• The transaction date for this accrual was September 24, 2025.
• Following this transaction, Mr. Ryan beneficially owns an aggregate of 31,491 deferred stock units.
• The acquired DSUs, representing dividend equivalents, become payable in stock upon the payout of the underlying deferred stock units.
• The underlying deferred stock units become payable on the earlier of (i) the first trading day of the quarter five years following the grant date, and (ii) the Reporting Person's end of service as a Director.

Sentiment

Score: 6

Explanation: The filing reports a routine, automatic accrual of dividend equivalents for a director, which is a minor positive as it increases insider alignment, but does not indicate significant new developments or discretionary investment.

Positives

• The accrual of dividend equivalents increases Director Paul D. Ryan's beneficial ownership in Fox Corporation, further aligning his interests with those of shareholders.
• The transaction is a standard, automatic process, indicating the ongoing operation of the company's director compensation plan.

Future Outlook

The deferred stock units representing dividend equivalents will become payable in stock upon the payout of the underlying deferred stock units. This payout is scheduled for the earlier of the first trading day of the quarter five years following the grant date or the Reporting Person's end of service as a Director.

Stakeholder Impact

• Shareholders: The increase in a director's beneficial ownership, even through automatic accruals, generally signals continued alignment of management interests with shareholder value.

Next Steps

• The deferred stock units will become payable in stock upon the payout of the underlying deferred stock units, which is contingent on either a five-year vesting period or the director's cessation of service.

Key Dates

Keywords

Fox Corporation, FOX, Paul D. Ryan, Director, Deferred Stock Units, DSU, Insider Transaction, SEC Form 4, Beneficial Ownership