Form 4: Walmart CEO C. Douglas McMillon Sells 29,124 Shares Under 10b5-1 Plan

Walmart CEO C. Douglas McMillon sold 29,124 shares of common stock at a weighted average price of $60.0304 per share on April 25, 2024, as part of a pre-arranged 10b5-1 trading plan.

Summary

• C. Douglas McMillon, the President and CEO of Walmart, sold 29,124 shares of Walmart common stock on April 25, 2024.
• The sale was executed at a weighted average price of $60.0304 per share.
• The price range for the sale was between $60.0200 and $60.6500 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• The plan was entered into during an open trading window and disclosed by Walmart on Form 8-K on February 24, 2023.
• Following the transaction, McMillon directly owns 4,018,649.947 shares of Walmart common stock.
• He also has indirect ownership through various trusts and a 401(k) plan.

Sentiment

Score: 5

Explanation: The document reflects a routine stock sale by the CEO under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine transaction for executives who use 10b5-1 plans to manage their stock sales, and it is not unusual for CEOs to sell shares for personal financial planning.

Comparison to Industry Standards

• Executive stock sales under 10b5-1 plans are common practice among publicly traded companies.
• The sale by McMillon is similar to other executive stock sales at comparable companies such as Target (TGT) and Costco (COST), where executives often use pre-arranged plans to avoid accusations of insider trading.
• The volume of shares sold is not unusual for a CEO of a company the size of Walmart.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders, employees, customers, or suppliers as it is a routine transaction under a pre-arranged plan.

Key Dates

Keywords

Walmart, C. Douglas McMillon, stock sale, Rule 10b5-1, insider trading, executive compensation, SEC Form 4