[Form 4] Blackrock, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for The Walt Disney Company (DIS) reports that director Maria Elena Lagomasino acquired an aggregate 784.9 Disney common shares on 06/30/2025 at a reference price of $119.43 per share. The shares consist of:

• 282.5 stock units received in lieu of quarterly cash board-retainer fees
• 502.4 deferred stock units issued as the regular quarterly grant under Disney’s Amended & Restated 2011 Stock Incentive Plan

The transaction lifts Lagomasino’s total direct ownership to 33,685.3 shares. No derivative securities were reported, and the activity was effected under routine director compensation provisions rather than open-market purchases.

Insights

Insider-Trading Analyst

TL;DR: Routine director comp; immaterial to DIS valuation; sentiment neutral.

The disclosed 784.9-share acquisition is part of Disney’s standard board compensation structure—stock units credited in lieu of cash and as a quarterly grant. At roughly $94,000 in notional value, the transaction is negligible versus Disney’s >$200 billion market capitalisation and does not signal incremental insider conviction beyond normal compensation elections. Ownership rises to 33.7 k shares, still immaterial (<0.002% of shares outstanding). I view the filing as non-impactful for investors and maintain a neutral stance.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Nixon Gordon M.

(Last) (First) (Middle)

BLACKROCK, INC.

50 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackRock, Inc. [ BLK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/30/2025		A		35(1)	A	$0	5,244	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Common Stock granted to Nonemployee Directors under the Third Amended and Restated BlackRock, Inc. 1999 Stock Award and Incentive Plan, based on $1,049.25 per share which was the closing price of the stock on June 30, 2025.

	/s/ R. Andrew Dickson III as Attorney-in-Fact for Gordon Nixon	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many Disney (DIS) shares did Director Maria Lagomasino acquire on 06/30/2025?

She acquired 784.9 shares (stock units) under Disney’s stock incentive plan.

What price was assigned to the acquired Disney shares?

The filing references a price of $119.43 per share for the stock units.

Does the Form 4 indicate open-market buying by the director?

No. The shares were credited as part of regular board compensation, not purchased on the open market.

What is Maria Lagomasino’s total Disney share ownership after this transaction?

Her direct holdings increased to 33,685.3 shares.

Are any derivative securities reported in this Form 4?

No derivative securities were acquired or disposed of; only non-derivative stock units are disclosed.