Disney (NYSE: DIS) director receives 1,364-share equity award

Rhea-AI Filing Summary

Walt Disney Co director James P. Gorman reported an acquisition of Disney Common Stock through a stock award. He received 1,364 shares at $100.80 per share as a grant or award for board service. Following this transaction, he directly holds 10,575.6 Disney shares. He also has an indirect holding of 38,000 shares through a Grantor Retained Annuity Trust. A footnote explains that part of his position includes stock units and deferred stock units credited under Disney’s Amended and Restated 2011 Stock Incentive Plan in lieu of cash retainers and as quarterly equity grants.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GORMAN JAMES P

Role null

Type	Security	Shares	Price	Value
Grant/Award	Disney Common Stock	1,364	$100.80	$137K
holding	Disney Common Stock	--	--	--

Holdings After Transaction: Disney Common Stock — 10,575.6 shares (Direct, null); Disney Common Stock — 38,000 shares (Indirect, by Grantor Retained Annuity Trust)

Footnotes (1)

1. [object Object]

Key Figures

Shares awarded: 1,364 shares Award price: $100.80 per share Direct holdings after award: 10,575.6 shares +3 more

6 metrics

Shares awarded 1,364 shares Grant or award of Disney Common Stock

Award price $100.80 per share Value used for the 1,364-share stock grant

Direct holdings after award 10,575.6 shares Disney Common Stock directly owned after transaction

Indirect trust holdings 38,000 shares Held indirectly by Grantor Retained Annuity Trust

Stock units in lieu of cash 502.2 units Stock units or shares credited under 2011 Stock Incentive Plan

Deferred stock units 861.8 units Deferred stock units credited as quarterly grant under Plan

Key Terms

Grantor Retained Annuity Trust, deferred stock units, stock units, Amended and Restated 2011 Stock Incentive Plan

4 terms

Grantor Retained Annuity Trust financial

"nature_of_ownership": "by Grantor Retained Annuity Trust"

A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.

deferred stock units financial

"and (2) 861.8 deferred stock units under the Plan credited"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

stock units financial

"502.2 stock units and/or shares of the Issuer's common stock"

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

Amended and Restated 2011 Stock Incentive Plan financial

"issued under the Amended and Restated 2011 Stock Incentive Plan"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:03 PM Accepted by SEC EDGAR 07/02/2026 - 04:03 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

GORMAN JAMES P

(Last) (First) (Middle)

500 SOUTH BUENA VISTA STREET

(Street)

BURBANK CALIFORNIA 91521

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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

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

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

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	06/30/2026		A		1,364(1)	A	$100.8	10,575.6	D
Disney Common Stock								38,000	I	by Grantor Retained Annuity 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) 502.2 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) 861.8 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/ Karen Young, as attorney-in-fact	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did James P. Gorman report at Walt Disney Co (DIS)?

James P. Gorman reported receiving 1,364 shares of Disney Common Stock as a grant or award. The shares were valued at $100.80 each and reflect compensation for his board service rather than an open-market purchase or sale.

How many Walt Disney (DIS) shares does James P. Gorman hold after this Form 4 filing?

After the reported award, James P. Gorman directly holds 10,575.6 Disney shares. He also has an indirect interest in 38,000 Disney shares through a Grantor Retained Annuity Trust, giving investors a view of his overall equity exposure.

Was James P. Gorman’s Walt Disney (DIS) transaction a buy or a grant?

The transaction was a grant or award, not an open-market purchase. The Form 4 uses transaction code “A,” indicating an acquisition of 1,364 Disney shares as compensation rather than a discretionary buy on the stock market.

What is the role of the Grantor Retained Annuity Trust in James P. Gorman’s Disney (DIS) holdings?

The filing shows 38,000 Disney shares held indirectly by a Grantor Retained Annuity Trust. This structure means those shares are attributed as an indirect holding associated with Gorman, separate from his directly owned 10,575.6 shares.

How are stock units and deferred stock units used in James P. Gorman’s Disney (DIS) compensation?

The footnote explains some compensation is in stock units and deferred stock units under Disney’s 2011 Stock Incentive Plan. These are credited instead of cash retainers and quarterly grants, and are ultimately settled in shares of Disney common stock.