Walmart CEO Doug McMillon and Walmart U.S. CEO John Furner entered into sales agreements to reduce their personal holdings by almost 6.5% and 34%, respectively, of Walmart stock over the next year.
McMillon will sell 19,416 shares in the open market beginning in June through April 2026, and 19,424 shares in May 2026 to total 233,000 shares under the Rule 10b5-1 plan filed with the U.S. Securities and Exchange Commission on Monday (March 17). The new plan will replace a Rule 10b5-1 sales agreement signed in Feb. 24, 2023, that expired in May.
McMillon’s direct personal holdings of Walmart stock totaled 3,588,247 shares as of Feb. 28. The shares are valued at $313.828 million as of Monday. The new plan represents about 6.49% of McMillon’s direct holdings. He also owns 5,717 shares indirectly in his 401(k) plan and a total of 1,054 shares indirectly in trusts for his wife and two sons. Company bylaws require McMillon to hold shares that are equal in value to at least seven times his base salary. His holdings are well above that threshold.
Furner’s Rule 10b5-1 plan, also filed March 17, allows for open market sales of 13,125 shares each month beginning in June and continuing through May 2026 for a maximum of 157,500 shares sold under the plan. Furner’s recent plan entered into on Feb. 28, 2024, expired on Feb. 27.
His direct personal holdings of Walmart stock total 460,672 shares as of Feb. 27. The value as of Monday is approximately $40.29 million. The new Rule 10b5-1 plan represents 34% of his direct holdings. Furner also indirectly owns another 5,584 shares in his 401(k).
Walmart requires Furner to hold company stock that is equal in value to at least five times his base salary and the new plans filed with the SEC ensure those guidelines are met before each monthly sale.
The filing notes that McMillon and Furner are using 10b5-1 plans to diversify their assets as part of their long-term financial planning strategy. The plans do not allow individuals any discretions or control over when the transactions occur each month.
Walmart shares (NYSE: WMT) closed Monday at $87.46, up $2.11. During the past 52 weeks, the share price has ranged between $58.58 and $105.30.