Walmart CEO Sells Millions in Shares While Retaining $700 Million Stake

Walmart Inc. (NYSE: WMT) disclosed on April 23 that CEO Doug McMillon sold approximately $2.57 million (about KRW 3.6 billion) of his shares in the open market under a pre-established Rule 10b5-1 trading plan. On May 5, executive David Guggina completed a non-market transaction in which the company withheld roughly $1.21 million (about KRW 1.7 billion) of shares to cover taxes on restricted stock vesting. Then, on May 15, executive Daniel Bartlett sold a modest stake of about $160,000 (roughly KRW 200 million) under his own pre-set trading plan. Even after these transactions, McMillon and Bartlett retain holdings valued at approximately $555 million and $85 million, respectively (around KRW 780 billion and KRW 120 billion), making these sales only a small portion of their total stakes.

Walmart has scheduled a conference call on May 21 to announce its first-quarter fiscal 2027 results, with investors closely watching its revenue and margin guidance driven by expansion in AI, e-commerce, and digital advertising. At the same time, the company is reportedly streamlining its U.S. operations by laying off about 1,000 office employees as part of ongoing cost-efficiency measures and portfolio restructuring.

With annual revenues of roughly $713 billion (around KRW 1,000 trillion), Walmart is the world’s largest retailer, employing about 2.1 million people globally. In its recent annual report and other public filings, the company highlighted the expansion of Supercenters and membership clubs alongside e-commerce, AI-driven automation, and digital advertising as core growth pillars—accelerating its shift toward a “retail + platform” model.