Walmart Executives McMillon and Furner Develop Strategy to Sell Company Stock
ill replace a Rule 10b5-1 sales agreement signed in Feb. 24, 2023, that expired in May.
McMillon’s personal Walmart stock holdings amounted to 3,588,247 shares as of Feb. 28, valued at $313.828 million on Monday. The new plan constitutes approximately 6.49% of his direct holdings, with additional indirect holdings through his 401(k) plan and trusts for his family. As per company regulations, McMillon is required to retain shares equivalent in value to at least seven times his base salary, a threshold that he comfortably exceeds.
Similarly, Furner’s Rule 10b5-1 plan, filed on March 17, will allow for the monthly sale of 13,125 shares from June to May 2026, totaling a maximum of 157,500 shares. Furner’s direct personal Walmart stock holdings as of Feb. 27 amounted to 460,672 shares, valued at approximately $40.29 million on Monday. This new plan represents about 34% of his direct holdings, along with additional indirect holdings in his 401(k). Walmart mandates Furner to maintain company stock equivalent in value to at least five times his base salary, which the new plans ensure before each monthly sale.
Both McMillon and Furner are employing 10b5-1 plans to diversify their assets as part of their long-term financial plans, without discretion or control over the timing of monthly transactions. Walmart stock (NYSE: WMT) closed at $87.46 on Monday, showing a range between $58.58 and $105.30 over the past year.
As corporate leaders, McMillon and Furner’s decision to sell Walmart stock is part of their financial planning strategy. These plans allow them to diversify their assets while ensuring compliance with the company’s policies regarding the minimum value of shares they should hold, relative to their base salaries. The use of Rule 10b5-1 plans demonstrates a commitment to long-term financial planning and asset diversification, aligning with best practices for corporate executives to manage and optimize their personal financial portfolios.
