WMT: EVP Adopts Rule 10b5-1 Stock Plan

Published: September 22, 2025

Walmart Inc.

Direct News

Date: 2025-09-22 — Walmart EVP Morris adopted a Rule 10b5-1 stock trading plan.
Planned sales: Morris' plan covers scheduled share sales through mid-2026 (plan duration stated).
Plan specifics: Dollar amounts, number of shares and precise trade schedule were not disclosed in the public summary provided.
Company scale: Walmart reported fiscal 2025 revenue of $681 billion and had ~7.97 billion shares outstanding (7,972,851,122 as of Aug. 27, 2025).

Historical Context

This action follows a string of insider 10b5-1 plans announced earlier in September 2025: on 2025-09-19 the EVP entered a Rule 10b5-1 stock trading plan for future sales (the current item), and on 2025-09-05 the company reported a 10b5-1 plan filed by the CFO. Those entries indicate multiple senior executives establishing scheduled trading arrangements in September 2025. Investors should monitor subsequent SEC filings for transaction details related to these plans.

What the filing and company data show

Walmart's EVP Morris adopted a Rule 10b5-1 stock plan that covers scheduled share sales through mid-2026. The public summary supplied does not disclose the number of shares or the dollar value covered by the plan; those details are typically included in subsequent transaction filings but are not present in the materials provided here. Context from Walmart's most recent filings shows company scale and recent performance: fiscal 2025 revenue totaled $681 billion, and consolidated net income for the three months ended July 31, 2025 was $7,151 million (net income attributable to Walmart: $7,026 million). Shares outstanding were reported at 7,972,851,122 as of August 27, 2025. Those figures provide a scope for investors to consider the relative size of any future insider sales once quantities are disclosed.

Investor implications and next steps

Because the plan’s size and schedule are not specified in the provided summary, the immediate market impact is indeterminate from the available information. Investors tracking insider activity should watch for follow-up SEC reporting (forms that disclose actual trades) to see the number, timing and execution of any sales under the plan. Separately, Walmart’s filings emphasize continued capital allocation priorities including share repurchases and dividends. That stated intent — included in the company’s strategy language — is relevant context when assessing the potential net effect of insider sales versus company buybacks on share supply over time. For precise investor assessment, await transaction-level disclosures tied to this 10b5-1 plan.

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What the filing and company data show

Investor implications and next steps

Investor FAQ

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