Form 4: Fox Director Chase Carey Acquires 3,470 Deferred Stock Units

Fox Corporation Director Chase Carey acquired 3,470 deferred stock units, valued at $64.84 per unit, increasing his total beneficial ownership to 26,840 units.

Summary

• Chase Carey, a Director of Fox Corporation, acquired 3,470 Deferred Stock Units (DSUs) on November 14, 2025.
• Each deferred stock unit represents the equivalent of one share of Fox Corporation's Class A Common Stock.
• The transaction price for the DSUs was $64.84 per unit.
• Following this acquisition, Mr. Carey beneficially owns an aggregate of 26,840 deferred stock units, including accrued dividend equivalents.
• These DSUs become payable in stock on the earlier of the first trading day of the quarter five years following the grant or Mr. Carey's end of service as a Director.

Sentiment

Score: 7

Explanation: The acquisition of deferred stock units by a director is generally a positive signal, indicating continued alignment of interests and confidence in the company's future. It's a routine compensation event, so not extremely bullish, but certainly not negative.

Positives

• The acquisition of 3,470 deferred stock units by a Director indicates continued alignment of management interests with shareholder value.
• The increase in beneficial ownership to 26,840 deferred stock units demonstrates a significant stake held by a key director.

Future Outlook

The deferred stock units are scheduled to become payable in stock on the earlier of the first trading day of the quarter five years following the grant or the reporting person's end of service as a Director, indicating a long-term incentive structure.

Industry Context

This is a routine insider transaction filing for a media company. Such filings are common for directors receiving equity compensation as part of their remuneration package, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• The grant of deferred stock units as compensation is a standard practice in the media and entertainment industry for aligning director incentives with shareholder value.
• The vesting schedule, tied to either a five-year period or the end of service, is typical for long-term equity awards designed to promote retention and sustained performance, comparable to practices at companies like Disney, Paramount Global, or Warner Bros. Discovery.

Stakeholder Impact

• Shareholders: The acquisition of DSUs by a director aligns management's interests with shareholders, potentially fostering long-term value creation.

Next Steps

• The deferred stock units will become payable in stock on the earlier of the first trading day of the quarter five years following the grant date (November 14, 2025) or Chase Carey's end of service as a Director.

Key Dates

Recommendation

This Form 4 filing reports a routine grant of deferred stock units to a director as part of their compensation. While it indicates continued alignment of interests, it does not present new information that would fundamentally alter the investment thesis for Fox Corporation, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Fox Corporation, FOX, Chase Carey, Director, Deferred Stock Units, Insider Transaction, Equity Compensation, Class A Common Stock, SEC Form 4