Don't Misuse Inside Information

You may know important information about our business that hasn’t been made public. Inside information may affect Walmart’s or one of our business partner’s stock price. By only trading on publicly and lawfully available information, we uphold Walmart’s reputation for honesty and fairness.


Integrity in Action


  • Do not trade on inside information. Because Walmart is a publicly traded company in the U.S., we all must comply with U.S. securities laws, which include prohibitions on insider trading. If you have certain important or sensitive information about Walmart or our business partners that is not known to the public, it is illegal to buy or sell shares in Walmart or those other companies. Examples of inside information include financial results, pricing or marketing strategy changes, significant lawsuits or contracts, key management changes, and projections of future sales and earnings. If you are unsure whether something qualifies as inside information, contact Legal for advice.
  • Keep it to yourself. Only share inside information with associates who need it to perform their jobs.
  • Do not share insider tips. Do not share inside information outside of Walmart, even with family members or friends. When discussing inside information be aware of your surroundings to avoid someone overhearing.

I know about an amazing new product one of our suppliers is about to launch. The news is not public. May I advise a friend to buy stock in that company if I don’t disclose why?

No. Even if you don’t give a reason for the recommendation, you are still violating the law if you make the recommendation based on inside information. If you are unsure whether trading is allowed, contact Legal.

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