Walt Disney updates CCO agreement: term to 2027, $875k salary

Rhea-AI Filing Summary

The Walt Disney Company amended the employment agreement of Kristina K. Schake, Senior Executive Vice President and Chief Communications Officer. The amendment extends her term to June 30, 2027 and increases her annual base salary to $875,000, effective October 15, 2025. Her target annual bonus opportunity and target long-term equity incentive award value, each as a percentage of base salary, remain unchanged. The amendment is filed as Exhibit 10.1.

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________________________________________________________________________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): October 15, 2025

The Walt Disney Company

(Exact name of registrant as specified in its charter)

Delaware			001-38842			83-0940635
(State or other jurisdiction			(Commission File Number)			(IRS Employer
of incorporation)						Identification No.)

500 South Buena Vista Street

Burbank, California 91521

(Address of Principal Executive Offices and Zip Code)

(818) 560-1000

(Registrant’s telephone number, including area code)

Not applicable

(Former name or address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

DIS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

________________________________________________________________________

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.    

On October 15, 2025, The Walt Disney Company (the “Company”) and Kristina K. Schake, the Company’s Senior Executive Vice President and Chief Communications Officer, entered into an amendment (the “Amendment”) to Ms. Schake’s employment agreement.

Pursuant to the Amendment, the term of Ms. Schake’s employment agreement was extended to June 30, 2027. The Amendment also increased Ms. Schake’s annual base salary to $875,000, effective on October 15, 2025, with future increases at the Company’s discretion. Ms. Schake’s target annual bonus opportunity and target long-term equity incentive annual award value, in each case, as a percentage of her base salary were unchanged.

A copy of the Amendment is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number						Description
10.1						Third Amendment dated October 15, 2025, to that certain Employment Agreement, dated as of June 29, 2022, by and between The Walt Disney Company and Kristina K. Schake, as amended
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

						The Walt Disney Company
By:						/s/ Jolene E. Negre
						Jolene E. Negre
						Deputy General Counsel - Securities Regulation, Governance & Secretary

Dated: October 16, 2025

FAQ

What did DIS disclose about its Chief Communications Officer?

Disney extended Kristina K. Schake’s employment term to June 30, 2027 and raised her base salary to $875,000, effective October 15, 2025.

Did Disney (DIS) change bonus or equity targets for the CCO?

No. Target annual bonus opportunity and target long-term equity incentive award value, each as a percentage of base salary, were unchanged.

When does the new base salary for DIS’s CCO take effect?

The increased base salary is effective on October 15, 2025.

Where can investors find the amendment details for DIS?

The Third Amendment to Kristina K. Schake’s employment agreement is filed as Exhibit 10.1.

What is the new term end date for DIS’s CCO agreement?

The term now runs through June 30, 2027.