Disney (DIS) director James Gorman granted 1,477 Disney shares

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

GORMAN JAMES P reported acquisition or exercise transactions in this Form 4 filing.

Walt Disney Co director James P. Gorman received a grant of 1,477.1 shares of Disney Common Stock, valued at $96.96 per share. This award is compensation, not an open‑market purchase, and increases his direct holdings to 9,211.6 shares.

He also has 38,000 shares reported as indirectly owned through a Grantor Retained Annuity Trust. A footnote explains the total includes 543.1 stock units and/or shares credited in lieu of cash board fees and 934.0 deferred stock units granted quarterly, plus additional stock units credited for dividends, all issuable as Disney common shares under the company’s stock incentive plan.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GORMAN JAMES P

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Disney Common Stock	1,477.1	$96.96	$143K
holding	Disney Common Stock	--	--	--

Holdings After Transaction: Disney Common Stock — 9,211.6 shares (Direct); Disney Common Stock — 38,000 shares (Indirect, by Grantor Retained Annuity Trust)

Footnotes (1)

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Key Figures

Stock grant: 1,477.1 shares Grant reference price: $96.96 per share Direct holdings after grant: 9,211.6 shares +3 more

6 metrics

Stock grant 1,477.1 shares Grant of Disney Common Stock to director on March 31, 2026

Grant reference price $96.96 per share Value used for the 1,477.1-share award

Direct holdings after grant 9,211.6 shares Disney Common Stock directly owned following the award

Indirect trust holdings 38,000 shares Disney Common Stock held by Grantor Retained Annuity Trust

Stock units from board fees 543.1 units/shares Credited in lieu of cash quarterly board retainer fees

Deferred stock units 934.0 units Quarterly deferred stock unit grants under incentive 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

"total_shares_following_transaction: "38000.0000" ... 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) 934.0 deferred stock units under the Plan credited as a quarterly grant"

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

"The total also includes additional stock units credited to the reporting person in respect of dividends"

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 (the "Plan")"

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 06:01 PM

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)
03/31/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Disney Common Stock	03/31/2026		A		1,477.1⁽¹⁾	A	$96.96	9,211.6	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Includes: (1) 543.1 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) 934.0 deferred stock units under the Plan credited as a quarterly grant under the Plan. The total also includes additional stock units credited to the reporting person in respect of dividends paid on shares of Issuer common stock. Stock units are issued to the reporting person in the form of shares of the Issuer's common stock issued under the Plan.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Karen Young, as attorney-in-fact	04/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Disney (DIS) director James P. Gorman report?

James P. Gorman reported receiving a grant of 1,477.1 Disney Common Stock shares as compensation. The award was recorded at $96.96 per share and classified as a grant or award acquisition, not an open-market purchase or sale, under Disney’s stock incentive arrangements.

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

After the reported grant, James P. Gorman directly holds 9,211.6 Disney Common Stock shares. This figure reflects his position following the 1,477.1-share award and includes stock units that will be issued as shares under Disney’s stock incentive plan.

What indirect Disney (DIS) holdings does James P. Gorman report through a trust?

The filing shows 38,000 Disney Common Stock shares held indirectly by James P. Gorman through a Grantor Retained Annuity Trust. These shares are reported as indirect ownership, separate from his direct holdings and stock units credited under the company’s stock incentive plan.

How are Disney (DIS) board fees and grants reflected in James P. Gorman’s holdings?

Gorman’s holdings include 543.1 stock units and/or shares credited instead of cash board retainer fees, plus 934.0 deferred stock units granted quarterly. Additional stock units are credited for dividends, all ultimately issuable as Disney common shares under the Amended and Restated 2011 Stock Incentive Plan.

Was James P. Gorman’s Disney (DIS) Form 4 transaction an open-market buy or sell?

The transaction was reported as a grant or award acquisition of 1,477.1 shares at $96.96, not an open-market buy or sell. It represents stock-based compensation under Disney’s incentive plan rather than a discretionary purchase or sale in the market.