Walmart Announces 2025 Annual Shareholders’ Meeting Voting Results

Walmart Inc. (NYSE: WMT) announced preliminary voting results from its Annual Shareholders’ Meeting held earlier today. Approximately 91.4% of all outstanding shares were represented at the meeting.

Doug McMillon, President and CEO, reviewed Walmart’s strong results from fiscal year 2025. He emphasized investments in wages, opportunity, innovation, technology, and making communities better, stating the company can continue to “improve our ROI even as we make investments to strengthen our company.” McMillon also said, "We’re scaling higher-margin businesses while investing in our associates and keeping our merchandise prices as low as possible in today’s environment.”

The Company presented four proposals for shareholder consideration and based on affirmative votes from a majority of total shares that were voted, these four proposals passed.

Proposal #1: Shareholders voted to approve the election of each of Walmart’s 12 director nominees. Each director nominee received affirmative votes from approximately 95.7% or more of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded):

Proposal #2: Shareholders ratified the appointment of Ernst & Young LLP as Walmart’s Independent Accountants, with affirmative votes from approximately 97.8% of the shares voted. The Board of Directors had recommended that shareholders vote for this proposal.

Proposal #3: Shareholders voted to approve, on a non-binding, advisory basis, the compensation of Walmart’s named executive officers described in Walmart’s 2025 Proxy Statement, with approximately 95.2% of the participating shares voting in favor of this proposal. The Board of Directors had recommended that shareholders vote for this proposal.

Proposal #4: Shareholders voted to approve the Walmart Inc. Stock Incentive Plan of 2025, with approximately 98.3% of shares voted. The Board of Directors had recommended that shareholders vote for this proposal.

Seven shareholder proposals, numbered 5-11, were presented during the meeting and failed to receive affirmative votes from a majority of the total shares that were voted, and accordingly, did not pass.

• Proposal #5: Request for Third-Party Assessment of Company Policies Regarding Law Enforcement Information Requests Related to Medication Use by Customers and Employees: Received approximately 4.1% of the shares that were voted
• Proposal #6: Report on Reduction of Plastic Packaging and Recyclability Claims: Received approximately 5.8% of the shares that were voted
• Proposal #7: Revisit Plastics Packaging Policies: Received approximately 0.5% of the shares that were voted
• Proposal #8: Racial Equity Audit: Received approximately 6.9% of the shares that were voted
• Proposal #9: Report on Delays in Revising Diversity, Equity, and Inclusion (DEI) Initiatives: Received approximately 0.4% of the shares that were voted
• Proposal #10: Health and Safety Governance: Received approximately 7.0% of the shares that were voted
• Proposal #11: Respect Civil Liberties in Advertising Services: Received approximately 0.4% of the shares that were voted

The official voting results for each item voted on by shareholders will be disclosed in a report to be filed with the Securities and Exchange Commission.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer dedicated to helping people save money and live better. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. The company aims to serve customers and members with great value, a wide range of quality items and services and a convenient, enjoyable shopping experience, while strengthening communities and providing opportunities for associates to grow and belong. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

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