8-KLeadership ChangesExhibits & Filings

Walmart Inc. 8-K Report, Executive Changes (Feb 8, 2018)

Filed February 8, 2018For Securities:WMT

Summary

Walmart Inc. announced a significant addition to its Board of Directors with the appointment of Sarah Friar. Ms. Friar, a seasoned executive with extensive financial and operational experience, is expected to bring valuable perspectives to Walmart's governance and strategic direction. Her appointment to both the Audit Committee and the Strategic Planning and Finance Committee underscores the company's commitment to strengthening its oversight in critical areas. Investors should note that Ms. Friar's compensation as a director will be prorated and aligns with the company's standard non-management director compensation structure. This includes a stock award and an annual retainer, with options for how the retainer can be received. The press release detailing this appointment is incorporated as an exhibit, providing further context for shareholders.

Key Highlights

  • 1Sarah Friar appointed as a new director to Walmart's Board of Directors.
  • 2Ms. Friar will serve on the Audit Committee and the Strategic Planning and Finance Committee.
  • 3Her appointment is effective as of February 7, 2018.
  • 4Ms. Friar received a prorated stock award of 536 shares of Walmart common stock upon appointment.
  • 5She will also receive a prorated annual retainer of $90,000, payable quarterly in arrears.
  • 6Ms. Friar has flexibility in how she receives her director compensation (cash, stock, deferred stock units, etc.).
  • 7A press release announcing the appointment is attached as an exhibit to the filing.

Frequently Asked Questions

Sarah Friar is a new director appointed to Walmart's Board. Her appointment is significant as she brings expertise to key committees like Audit and Strategic Planning and Finance, indicating a focus on strengthening financial oversight and strategic decision-making at the board level.

Ms. Friar will receive prorated compensation as a non-management director. This includes a stock award of 536 shares and a prorated portion of a $90,000 annual retainer, which she can elect to receive in various forms, including cash, stock, or deferred compensation.

Ms. Friar has been appointed to serve on the Audit Committee and the Strategic Planning and Finance Committee of Walmart's Board of Directors.

The filing states there are no special arrangements or understandings between Ms. Friar and any other persons or entities regarding her appointment as a director.