Brief
Demo view — informational only.
Executive Takeaway
Walmart appointed Christopher Nicholas as Executive Vice President, President and CEO of Walmart International, effective January 16, 2026. [E3]
What Happened
Key Facts
| Ticker | WMT |
| Form | 8-K |
| Filed | 2026-01-16 |
| Impact | High (75/100) |
| Accession No. | 0000104169-26-000023 |
| CIK | 0000104169 |
| Christopher Nicholas Salary | $1,000,000 |
| Latriece Watkins Salary | $925,000 |
| Nicholas Equity Award Value | $9,000,000 |
| Watkins Equity Award Value | $7,000,000 |
Evidence
Show evidence notes
E3
Highlights the leadership change at Walmart International, which may impact strategic direction.
E5
Indicates a significant leadership appointment at Sam's Club, crucial for operational strategy.
E1
Details the compensation structure for a key executive, reflecting the company's investment in leadership.
E2
Shows the competitive compensation package for another executive, indicating the company's focus on talent retention.
E4
Provides insight into the compensation strategy for executives, which can influence company performance.
Show evidence blocks (E1..)
In connection with his new role, the Compensation and Management Development Committee (the “CMDC”) of the Company’s Board of Directors approved certain changes to Mr. Guggina’s compensation. As of the Effective Date, Mr. Guggina’s annualized base salary will be $975,000. For the fiscal year ending January 31, 2027 (“fiscal 2027”), Mr. Guggina’s target annual cash incentive opportunity under the Company’s Management Incentive Plan (the “MIP”) will be 180% of his base salary, with a maximum possible payout of 225% of his base salary. For fiscal 2027, Mr. Guggina will be eligible to receive an annual equity award with a value of approximately $8,000,000, consisting of 75% performance-based restricted stock units and 25% restricted stock, and with the same grant date and vesting schedule as approved by the CMDC for all of the Company’s executive officers.
In connection with his new role, the CMDC approved certain changes to Mr. Nicholas’ compensation. As of the Effective Date, Mr. Nicholas’ annualized base salary will be $1,000,000. For fiscal 2027, Mr. Nicholas’ target annual cash incentive opportunity under the MIP will be 180% of his base salary, with a maximum possible payout of 225% of his base salary. For fiscal 2027, Mr. Nicholas will be eligible to receive an annual equity award with a value of approximately $9,000,000, consisting of 75% performance-based restricted stock units and 25% restricted stock, and with the same grant date and vesting schedule as approved by the CMDC for all of the Company’s executive officers.
On January 16, 2026, Christopher Nicholas, age 48, was appointed Executive Vice President, President and Chief Executive Officer, Walmart International, effective as of the Effective Date. Since September 2023, Mr. Nicholas has served as Executive Vice President, President and Chief Executive Officer, Sam’s Club U.S. From October 2021 to September 2023, Mr. Nicholas served as Executive Vice President and Chief Operating Officer, Walmart U.S. From February 2021 to October 2021, Mr. Nicholas served as Executive Vice President and Chief Financial Officer of Walmart U.S., and from January 2020 to February 2021 as Executive Vice President and Chief Financial Officer of Walmart International. Mr. Nicholas joined the Company in August 2018 as Senior Vice President and Deputy Chief Financial Officer, Walmart International, a role he held until January 2020. Prior to joining the Company, Mr. Nicholas served in a variety of roles at Coles Group, a prominent Australian retailer, Dansk Supermarked Group, a Danish-based retailer, and Tesco PLC, a U.K.-based retailer.
In connection with her new role, the CMDC approved certain changes to Ms. Watkins’ compensation. As of the Effective Date, Ms. Watkins’ annualized base salary will be $925,000. For fiscal 2027, Ms. Watkins’ target annual cash incentive opportunity under the MIP will be 180% of her base salary, with a maximum possible payout of 225% of her base salary. For fiscal 2027, Ms. Watkins will be eligible to receive an annual equity award with a value of approximately $7,000,000, consisting of 75% performance-based restricted stock units and 25% restricted stock, and with the same grant date and vesting schedule as approved by the CMDC for all of the Company’s executive officers.
Sam’s Club U.S. Also on January 16, 2026, Latriece Watkins, age 51, was appointed Executive Vice President, President and Chief Executive Officer, Sam’s Club U.S., effective as of the Effective Date. Since May 2023, Ms. Watkins has served as Executive Vice President and Chief Merchandising Officer, Walmart U.S. From December 2020 to May 2023, Ms. Watkins served as Executive Vice President, Consumables, Walmart U.S. Ms. Watkins joined the Company in 1997 as a real estate intern and has served in various leadership roles across Sam’s Club, Walmart U.S., human resources, and store operations. She has served on the Board of Directors of Live Nation Entertainment, Inc. since 2021.
99.1 | Press Release dated January 15, 2026.
99.2 | Press Release dated January 16, 2026.
Exhibit 104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
Dated: January 16, 2026
The following document is furnished as an exhibit to this Current Report on Form 8-K: |
E11
Open in filing
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E12
Open in filing
1.050% Notes due 2026 | WMT26A | The Nasdaq Stock Market LLC |
E13
Open in filing
1.500% Notes due 2028 | WMT28C | The Nasdaq Stock Market LLC |
E14
Open in filing
4.875% Notes due 2029 | WMT29B | The Nasdaq Stock Market LLC |
E15
Open in filing
5.750% Notes due 2030 | WMT30B | The Nasdaq Stock Market LLC |
E16
Open in filing
1.800% Notes due 2031 | WMT31A | The Nasdaq Stock Market LLC |
E17
Open in filing
5.250% Notes due 2035 | WMT35A | The Nasdaq Stock Market LLC |
E18
Open in filing
2.550% Notes due 2026 | WMT26 | The Nasdaq Stock Market LLC |
Informational only. Not investment advice.