Summary by Futu AI
On September 6, 2024, Walmart Inc. disclosed that its Executive Vice President and Chief Financial Officer, John David Rainey, has initiated a stock trading plan in accordance with Rule 10b5-1. This rule allows corporate officers to set up predetermined trading plans for their shares, to avoid insider trading concerns. Rainey's plan involves the sale of 38,000 shares of Walmart's common stock on two initial trades scheduled for February 3, 2025, and March 3, 2025, with a minimum price threshold. Subsequently, Rainey will sell 2,200 shares monthly until December 1, 2025, totaling up to 95,800 shares. This plan is part of Rainey's long-term financial strategy and complies with Walmart's Insider Trading Policy. Rainey's previous 10b5-1 plan will expire on December 2, 2024. He will maintain compliance with the company's stock ownership guidelines, which require him to hold stock worth at least five times his base salary. All transactions under this new plan will be reported to the SEC through Form 144 and Form 4 filings as required by law.