Walmart’s top execs continue to sell shares

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by Kim Souza ([email protected]) ago 0 views 

Walmart CEO Doug McMillon, Walmart U.S. CEO John Furner, and Chief Financial Officer John David Rainey are selling or have sold company shares they previously received as compensation.

Rainey’s plan provides for the sales of Walmart shares as part of his long-term asset diversification, tax and financial planning strategy. His plan’s terms allowed for the sale of 38,000 shares on two scheduled dates slated from Feb. 3 and March 3. The plan called for 2,200 shares to be sold each month after that, at prevailing market prices through Dec. 1, 2025.

The plan allows for 95,800 shares to be sold over the term. Rainey continues to be subject to Walmart’s stock ownership guidelines that require him to hold company stock that equals the value of at least five times his base salary of $1,003,846 as of fiscal 2024.

Rainey held more than 384,165 shares of Walmart stock on Sept. 3. The market value of this stock totaled $29.442 million as of Sept. 6.

McMillon recently sold 29,124 shares of his direct holdings of Walmart shares at $75.669 valued at $2.203 million in August which complied with his Rule 10b5-1 plan on file with the U.S. Securities and Exchange Commission (SED). Thus far in 2024, he has sold 145,620 shares of his direct Walmart holdings valued at more than $9.667 million. That is less than 4% of his total direct holdings of 3,902,176 shares as of Aug. 22. The market value of his direct shares was $299.062 million as of Sept. 6.

Between 2022 and 2023, he sold 233,000 shares in accordance with a 10b5-1 plan that he filed. McMillon owns another 5,702 shares in his 401(k) account. In trusts for his wife and children, he indirectly owns another 1.053 million shares.

Furner recently sold 13,125 shares at $75.33, totaling $988,706. Earlier this year, Furner entered into a Rule 10b5-1 plan with the SEC to sell 13,125 shares of Walmart stock each month beginning May 31 and continuing through Feb. 27, 2025. The total number of shares to be sold under this plan is 131,250, or roughly 21% of his outstanding shares.

As of Sept. 6, Furner’s direct holdings of 619,289 Walmart shares were valued at $47.462 million.

Before a 3-for-1 stock split on Feb. 26, the share price was $175.56. Since the stock split, shares have increased from $58.52 with the value growing more than 30.9% this year based on the closing share price of $76.64 on Sept. 6.