Summary by Moomoo AI
On March 28, 2024, Walmart Inc. disclosed that Executive Vice President of Corporate Affairs, Daniel J. Bartlett, has established a prearranged stock trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. This plan allows for the structured sale of company stock by officers and directors at predetermined times without violating insider trading regulations. Bartlett's plan involves the sale of $166,667 worth of Walmart common stock monthly from June 2024 to May 2026, contingent on the stock price being above a certain threshold. If the minimum price is not met, the sale amount will be deferred to the next scheduled date when the threshold is achieved. The total sales under the plan will not exceed $4 million. Bartlett will maintain compliance with Walmart's stock ownership guidelines, which require him to hold an amount of stock at least five times his base salary. Transaction details will be made public through SEC filings as required by law.