Walt Disney Co (DIS) director purchases 18,000 shares at $111.8857

Rhea-AI Filing Summary

Walt Disney Co reported that a company director bought 18,000 shares of its common stock on December 12, 2025, at a weighted average price of $111.8857 per share. The shares were purchased in multiple transactions at prices ranging from $111.64 to $112.075. On the same date, the director contributed 20,000 previously directly held shares to a grantor retained annuity trust, described as exempt from Section 16 under Rule 16a-13, and now beneficial ownership includes 38,000 shares held indirectly through the trust and 6,518 shares held directly.

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

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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^*

GORMAN JAMES P

(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)
12/12/2025

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	12/12/2025		P		18,000	A	$111.8857(1)	38,000(2)	I	by Grantor Retained Annuity Trust
Disney Common Stock								6,518(2)	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. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $111.64 to $112.075, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

2. On December 12, 2025, the Reporting Person contributed 20,000 shares of the Issuer's common stock, previously reported as directly beneficially owned, to a grantor retained annuity trust of which the Reporting Person is the sole grantor, trustee and annuitant. This contribution is exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934.

Remarks:

	/s/ Carla J. Silva, as attorney-in-fact	12/15/2025
	** 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).
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 a Walt Disney Co (DIS) director report?

A Walt Disney Co director reported purchasing 18,000 shares of Disney common stock on December 12, 2025 at a weighted average price of $111.8857 per share.

At what prices were the Disney (DIS) shares purchased by the director?

The director’s 18,000-share purchase was executed in multiple trades at prices ranging from $111.64 to $112.075, with a weighted average price of $111.8857 per share.

How many Walt Disney (DIS) shares does the director beneficially own after the reported transactions?

After the reported activity, the director beneficially owns 38,000 shares indirectly through a grantor retained annuity trust and 6,518 shares directly.

What is the grantor retained annuity trust mentioned in the Disney (DIS) insider report?

The filing states that on December 12, 2025, the director contributed 20,000 shares of Disney common stock to a grantor retained annuity trust, of which the director is the sole grantor, trustee and annuitant.

Was the contribution of Disney (DIS) shares to the trust exempt from Section 16?

Yes. The contribution of 20,000 shares of Disney common stock to the grantor retained annuity trust is described as exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934.

Is the Disney (DIS) director’s purchase associated with a Rule 10b5-1 trading plan?

The form includes a checkbox to indicate transactions under a Rule 10b5-1(c) trading plan, but the excerpt does not show it marked as selected for this transaction.