Section 16(a) Beneficial Ownership Reporting Compliance.
Section 16(a) of the Exchange Act requires Walmart’s directors, Executive Officers, and persons who own more than 10% of the outstanding Shares to file reports of ownership and changes in ownership with the SEC. SEC regulations require Walmart to identify anyone who failed to file a required report or filed a late report during fiscal 2015. Walmart believes that all Section 16(a) filing requirements were timely met during fiscal 2015.