=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-03-11
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: Fox Corp (FOX)
CIK: 0001754301
--- Reporting Owner ---
Name: MURDOCH LACHLAN K
CIK: 0001242818
Role: Director, Officer (Executive Chair, CEO)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Class A Common Stock
Date: 2026-03-11 | Code: M (Exercise of derivative)
Shares: +242,747 | Price: $40.26
Total Value: $9,772,994.22
Shares Owned After: 418,271 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[Transaction #2]
Security: Class A Common Stock
Date: 2026-03-11 | Code: S (Open market sale)
Shares: -240,404 | Price: $57.73
Total Value: $13,878,522.92
Shares Owned After: 177,867 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F2] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.28 to $58.27 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #3]
Security: Class A Common Stock
Date: 2026-03-11 | Code: S (Open market sale)
Shares: -2,343 | Price: $58.31
Total Value: $136,620.33
Shares Owned After: 175,524 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F3] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.28 to $58.35 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #4]
Security: Class A Common Stock
Date: 2026-03-12 | Code: M (Exercise of derivative)
Shares: +247,257 | Price: $40.26
Total Value: $9,954,566.82
Shares Owned After: 422,781 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[Transaction #5]
Security: Class A Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -239,357 | Price: $57.68
Total Value: $13,806,111.76
Shares Owned After: 183,424 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F4] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.02 to $58.01 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #6]
Security: Class A Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -7,900 | Price: $58.06
Total Value: $458,674.00
Shares Owned After: 175,524 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F5] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.02 to $58.12 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #7]
Security: Class A Common Stock
Date: 2026-03-13 | Code: M (Exercise of derivative)
Shares: +86,697 | Price: $40.26
Total Value: $3,490,421.22
Shares Owned After: 262,221 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[Transaction #8]
Security: Class A Common Stock
Date: 2026-03-13 | Code: M (Exercise of derivative)
Shares: +375,683 | Price: $36.00
Total Value: $13,524,588.00
Shares Owned After: 637,904 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[Transaction #9]
Security: Class A Common Stock
Date: 2026-03-13 | Code: S (Open market sale)
Shares: -151,265 | Price: $56.65
Total Value: $8,569,162.25
Shares Owned After: 486,639 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F6] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $56.19 to $57.185 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #10]
Security: Class A Common Stock
Date: 2026-03-13 | Code: S (Open market sale)
Shares: -295,677 | Price: $57.51
Total Value: $17,004,384.27
Shares Owned After: 190,962 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F7] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.19 to $58.18 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #11]
Security: Class A Common Stock
Date: 2026-03-13 | Code: S (Open market sale)
Shares: -9,438 | Price: $58.45
Total Value: $551,651.10
Shares Owned After: 181,524 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F8] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.20 to $59.08 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #12]
Security: Class A Common Stock
Date: 2026-03-13 | Code: S (Open market sale)
Shares: -5,100 | Price: $59.68
Total Value: $304,368.00
Shares Owned After: 176,424 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F9] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $59.25 to $60.21 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #13]
Security: Class A Common Stock
Date: 2026-03-13 | Code: S (Open market sale)
Shares: -900 | Price: $60.44
Total Value: $54,396.00
Shares Owned After: 175,524 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F10] The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $60.37 to $60.63 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
[Transaction #14]
Security: Class A Common Stock
Date: 2026-03-13 | Code: S (Open market sale)
Shares: -175,372 | Price: $60.63
Total Value: $10,632,804.36
Shares Owned After: 152 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F11] The reporting person sold the reported securities to the LKM Family Trust, which is administered by an independent trustee for the benefit of the reporting person, his immediate family members and certain charitable organizations.
[Transaction #15]
Security: Class A Common Stock
Date: 2026-03-13 | Code: P (Open market purchase)
Shares: +175,372 | Price: $60.63
Total Value: $10,632,804.36
Shares Owned After: 1,251,779 | Ownership: I (Indirect) | Nature: By LKM Family Trust
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F11] The reporting person sold the reported securities to the LKM Family Trust, which is administered by an independent trustee for the benefit of the reporting person, his immediate family members and certain charitable organizations.
--- Derivative Transactions ---
[Transaction #1]
Security: Stock Option (Right to Buy)
Date: 2026-03-11 | Code: M (Exercise of derivative)
Shares: -242,747 | Price: $0.00
Exercisable: N/A | Expires: 2026-03-19
Shares Owned After: 333,954 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F12] The stock options were granted under an award that vested 50% on June 15, 2020 and 50% on June 15, 2021.
[Transaction #2]
Security: Stock Option (Right to Buy)
Date: 2026-03-12 | Code: M (Exercise of derivative)
Shares: -247,257 | Price: $0.00
Exercisable: N/A | Expires: 2026-03-19
Shares Owned After: 86,697 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F12] The stock options were granted under an award that vested 50% on June 15, 2020 and 50% on June 15, 2021.
[Transaction #3]
Security: Stock Option (Right to Buy)
Date: 2026-03-13 | Code: M (Exercise of derivative)
Shares: -86,697 | Price: $0.00
Exercisable: N/A | Expires: 2026-03-19
Shares Owned After: 0 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F12] The stock options were granted under an award that vested 50% on June 15, 2020 and 50% on June 15, 2021.
[Transaction #4]
Security: Stock Option (Right to Buy)
Date: 2026-03-13 | Code: M (Exercise of derivative)
Shares: -375,683 | Price: $0.00
Exercisable: N/A | Expires: 2026-08-05
Shares Owned After: 0 | Ownership: D (Direct)
Footnotes:
[F1] Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
[F13] The stock options were granted under an award that vested one-third on each of August 15, 2020, August 15, 2021 and August 15, 2022.
--- Footnotes (Complete Index) ---
F1: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on December 2, 2025.
F10: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $60.37 to $60.63 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F11: The reporting person sold the reported securities to the LKM Family Trust, which is administered by an independent trustee for the benefit of the reporting person, his immediate family members and certain charitable organizations.
F12: The stock options were granted under an award that vested 50% on June 15, 2020 and 50% on June 15, 2021.
F13: The stock options were granted under an award that vested one-third on each of August 15, 2020, August 15, 2021 and August 15, 2022.
F2: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.28 to $58.27 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F3: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.28 to $58.35 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F4: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.02 to $58.01 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F5: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.02 to $58.12 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F6: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $56.19 to $57.185 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F7: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $57.19 to $58.18 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F8: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $58.20 to $59.08 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
F9: The number of securities reported represents an aggregate number of shares sold in multiple open market transactions over a range of sales prices from $59.25 to $60.21 per share, inclusive. The price reported represents the weighted average price. The Reporting Person undertakes to provide the staff of the SEC, the Issuer, or a stockholder of the Issuer, upon request, the number of shares sold by the Reporting Person at each separate price within the range.
--- Signature ---
/s/ /s/ Laura A. Cleveland as Attorney-in-Fact for Lachlan K. Murdoch (2026-03-13)
