Walt Disney Horacio E. Gutierrez sells 20,552 shares

The SEVP, CL&GAO's sale was made under a Rule 10b5-1(c) plan adopted on December 11, 2025.

Available on EDGAR 11/06/2026 - 05:32 PM EST Accepted by SEC EDGAR 11/06/2026 - 05:32 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Walt Disney Co (DIS) SEVP, CL&GAO Horacio E. Gutierrez sold 20,552 shares at $120 per share on November 5, 2026, leaving him with 37,765 shares held directly. The sale was made under a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 11, 2025.

Insider Trade Summary 10b5-1

Net Seller: 20,552 shares

Net Sell 1 txn

Insider Gutierrez Horacio E

Role SEVP, CL&GAO

Sold 20,552 shs ($2.47M)

Type	Security	Shares	Price	Value
Sale	Disney Common Stock F1	20,552	$120.00	$2.47M

Holdings After Transaction: Disney Common Stock — 37,765 shares (Direct)

Footnotes (1)

1. F1. The transaction reported on this Form 4 was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) previously adopted by the reporting person on December 11, 2025.

Key Figures

Shares sold: 20,552 shares Sale price: $120 per share Direct shares held after transaction: 37,765 shares

3 metrics

Shares sold 20,552 shares November 5, 2026

Sale price $120 per share November 5, 2026

Direct shares held after transaction 37,765 shares After the November 5, 2026 sale

Key Terms

Rule 10b5-1(c), affirmative defense

2 terms

Rule 10b5-1(c) regulatory

"conditions of Rule 10b5-1(c)"

Rule 10b5-1(c) is an SEC guideline that lets company insiders set up a written, pre-planned schedule to buy or sell their company stock when they are not in possession of material, nonpublic information. For investors, it matters because such plans can reduce the appearance of insider trading by separating decisions from inside knowledge—like putting your trades on autopilot—while also requiring scrutiny since pre-planned trades can still affect market confidence and share value.

affirmative defense regulatory

"intended to satisfy the affirmative defense conditions"

FAQ

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How many Walt Disney Co (DIS) shares did Horacio E. Gutierrez sell?

Horacio E. Gutierrez sold 20,552 shares at $120 per share on November 5, 2026, and held 37,765 shares directly afterward. The sale was made under a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 11, 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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).

X

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^*

Gutierrez Horacio E

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP, CL&GAO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026

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	11/05/2026		S		20,552(1)	D	$120	37,765	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 transaction reported on this Form 4 was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) previously adopted by the reporting person on December 11, 2025.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Karen Young, as attorney-in-fact	11/06/2026
	** 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)