Walt Disney Co (DIS) director adds stock and units under 2011 incentive plan

Rhea-AI Filing Summary

Walt Disney Co director Form 4 shows additional stock-based compensation. On 12/31/2025, the reporting person acquired 851.6 shares of Disney common stock at $113.02 per share. After this transaction, the director beneficially owned 13,804.1 shares directly and 120 shares indirectly through a trust.

The footnotes explain that the total includes 276.5 stock units or shares issued under Disney’s Amended and Restated 2011 Stock Incentive Plan in lieu of some quarterly cash retainer fees for Board service, and 575.1 deferred stock units credited as a quarterly grant under the same plan. These stock units are settled in shares of Disney common stock issued under the plan.

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^*

Chang Amy

(Last) (First) (Middle)

500 SOUTH BUENA VISTA STREET

(Street)

BURBANK CA 91521

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Walt Disney Co [ DIS ]

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)
12/31/2025

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
Disney Common Stock	12/31/2025		A		851.6(1)	A	$113.02	13,804.1	D
Disney Common Stock								120	I	By Trust

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. Includes: (1) 276.5 stock units and/or shares of the Issuer's common stock issued under the Amended and Restated 2011 Stock Incentive Plan (the "Plan") credited in lieu of all or a portion of the reporting person's quarterly cash retainer fees for Board services pursuant to the reporting person's election, which shares shall be issued to the reporting person at such times and subject to such terms and conditions governing the election, and (2) 575.1 deferred stock units under the Plan credited as a quarterly grant under the Plan. Stock units are issued to the reporting person in the form of shares of the Issuer's common stock issued under the Plan.

Remarks:

	/s/ Carla J. Silva, as attorney-in-fact	01/05/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Walt Disney Co (DIS) report in this Form 4?

The filing reports that a Disney director acquired 851.6 shares of Disney common stock on 12/31/2025 at a price of $113.02 per share.

How many Walt Disney Co (DIS) shares does the director own after this transaction?

Following the reported transaction, the director beneficially owned 13,804.1 shares of Disney common stock directly and 120 shares indirectly through a trust.

What is the source of the additional Disney (DIS) stock units mentioned in the Form 4?

The filing states that holdings include 276.5 stock units or shares credited in lieu of some quarterly cash retainer fees for Board service and 575.1 deferred stock units credited as a quarterly grant, all under the Amended and Restated 2011 Stock Incentive Plan.

How are the Disney (DIS) stock units under the 2011 Stock Incentive Plan settled?

The document explains that these stock units are issued to the reporting person in the form of shares of Disney common stock under the Amended and Restated 2011 Stock Incentive Plan.

What is the reporting person’s relationship to Walt Disney Co (DIS)?

The reporting person is identified as a Director of Walt Disney Co.

Is any of the Walt Disney Co (DIS) stock held indirectly by the reporting person?

Yes. The filing shows 120 shares of Disney common stock held indirectly, described as held "By Trust".