Fox Corporation Executive Chair and CEO Lachlan Murdoch reported a sequence of Class A Common Stock sales totaling approximately $65.4 million across multiple transactions executed between March 11 and March 13, 2026, according to a Form 4 filing with the Securities and Exchange Commission.
The filings detail discrete trades over the three-day window, with sale prices ranging from $56.19 to $60.63. These trades took place while Fox shares were trading at $52.02, down 19.4% year-to-date. Investment analysis from InvestingPro noted the stock "appears undervalued," citing a Fair Value estimate implying potential upside from current market levels. Fox's market capitalization at the time was reported at $24.4 billion and the company carried a price-to-earnings ratio of 13.85.
Day-by-day transaction breakdown
On March 11, Murdoch sold 240,404 shares at a weighted average price of $57.73, with individual sale prices recorded between $57.28 and $58.27, for proceeds of $13,877,523. The same day included a separate disposal of 2,343 shares at an average price of $58.31, with prices ranging from $58.28 to $58.35, totaling $136,610.
March 12 filings showed further disposals. Murdoch sold 239,357 shares at a weighted average price of $57.68, with per-share prices between $57.02 and $58.01, generating $13,790,378. An additional sale that day consisted of 7,900 shares at an average price of $58.06, with prices from $58.02 to $58.12, totaling $458,674.
Activity was most extensive on March 13. The filings report a sale of 151,265 shares at a weighted average price of $56.65, with price points from $56.19 to $57.185, for proceeds of $8,569,512. That same day Murdoch sold 295,677 shares at an average price of $57.51, with prices ranging from $57.19 to $58.18, totaling $17,003,340. Additional March 13 sales included 9,438 shares at an average of $58.45 (prices $58.20 to $59.08) for $551,655; 5,100 shares at an average of $59.68 (prices $59.25 to $60.21) for $304,368; and 900 shares at an average of $60.44 (prices $60.37 to $60.63) totaling $54,396.
Also on March 13, Murdoch sold 175,372 shares at a price of $60.63 to the LKM Family Trust for $10,632,804. Simultaneously, Murdoch indirectly purchased 175,372 shares through the LKM Family Trust at the same $60.63 price, for an identical total of $10,632,804. The Form 4 discloses these paired transactions as part of the same reporting period.
Option exercises and trading plan
In addition to open-market sales and the trust transactions, Murdoch exercised stock options to acquire a total of 952,384 shares of Fox Corp Class A Common Stock. Those option exercises were executed at strike prices of $36.0 and $40.26, with aggregate consideration of $36,742,570.
The filings indicate all of the reported transactions were carried out pursuant to a Rule 10b5-1 trading plan Murdoch adopted on December 2, 2025.
Context within company actions and recent results
The insider activity occurs against a backdrop of Fox’s active capital-return strategy. InvestingPro data cited in the filings notes that Fox has been an aggressive buyer of its own shares and maintains a high shareholder yield. The company has increased its dividend for five consecutive years and remained profitable over the most recent twelve-month period, according to the same data set. Those items were presented as two of ten ProTips available to InvestingPro subscribers, along with broader Pro Research metrics and reports for Fox and other U.S. equities.
Fox also released its fiscal 2026 second-quarter results showing diluted earnings per share of $0.82, a figure that exceeded analysts’ estimates of $0.49. The corporate calendar included an announcement that Lachlan Murdoch would speak at the Morgan Stanley Technology, Media & Telecom Conference, scheduled for March 2, with the company providing a webcast of the presentation via its investor relations website.
In a separate corporate initiative, Fox disclosed plans to match the U.S. government’s $1,000 contribution to the so-called "Trump Accounts" children’s retirement savings program. The company said it will participate in the program, intended for children born between January 1, 2025, and December 31, 2028, set to launch in July 2026 when the U.S. Treasury deposits $1,000 into each eligible account.
What the filings show
The Form 4 disclosures present a mix of open-market sales, a trust transfer/purchase pair, and substantial option exercises, all documented under a Rule 10b5-1 plan. The reporting provides precise per-share price ranges, weighted averages, share counts and totals for each reported trade over the March 11-13 window. Outside observers referenced in the filing material also highlighted Fox’s buyback activity, dividend track record and profitability over the trailing twelve months.