=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-01-15
10b5-1 Pre-arranged Plan: No
--- Issuer ---
Name: Walt Disney Co (DIS)
CIK: 0001744489
--- Reporting Owner ---
Name: WOODFORD BRENT
CIK: 0001211698
Role: Officer (EVP, Control, Fin Plan & Tax)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Disney Common Stock
Date: 2026-01-15 | Code: F (Payment of exercise/tax)
Shares: -3 | Price: $113.14
Total Value: $339.42
Shares Owned After: 54,599 | Ownership: D (Direct)
Footnotes:
[F1] The 3 shares reported as a disposition represent an automatic reduction of shares issued to the reporting person to discharge withholding tax obligations of reporting person and do not constitute an actual sale or other open-market transaction.
[F2] Total includes dividend equivalents distributed with respect to previously vested restricted stock units.
[Transaction #2]
Security: Disney Common Stock
Date: 2026-01-15 | Code: M (Exercise of derivative)
Shares: +1,939
Shares Owned After: 56,538 | Ownership: D (Direct)
Footnotes:
[F3] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,956 stock units on
each of July 15, 2026 and 2027, and January 15, 2027 and 2028. Includes dividend equivalents accrued on the award.
[F4] Restricted stock units convert into common stock at 1-for-1.
[Transaction #3]
Security: Disney Common Stock
Date: 2026-01-15 | Code: F (Payment of exercise/tax)
Shares: -542 | Price: $113.14
Total Value: $61,321.88
Shares Owned After: 55,996 | Ownership: D (Direct)
Footnotes:
[F5] The 542 shares reported as a disposition represent an automatic reduction of shares issued to the reporting person to discharge withholding tax obligations of reporting person and do not constitute an
actual sale or other open-market transaction.
[Transaction #4]
Security: Disney Common Stock
Date: 2026-01-17 | Code: M (Exercise of derivative)
Shares: +1,162
Shares Owned After: 57,158 | Ownership: D (Direct)
Footnotes:
[F6] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,162 stock units on July 17, 2026. Includes dividend equivalents accrued on the award.
[F4] Restricted stock units convert into common stock at 1-for-1.
[Transaction #5]
Security: Disney Common Stock
Date: 2026-01-17 | Code: F (Payment of exercise/tax)
Shares: -256 | Price: $112.48
Total Value: $28,796.16
Shares Owned After: 56,902 | Ownership: D (Direct)
Footnotes:
[F7] The 256 shares reported as a disposition represent an automatic reduction of shares issued to the reporting person to discharge withholding tax obligations of reporting person and do not constitute an actual sale or other open-market transaction.
--- Derivative Transactions ---
[Transaction #1]
Security: Restricted Stock Unit
Date: 2026-01-15 | Code: A (Grant or award)
Shares: +11,230 | Price: $0.00
Shares Owned After: 11,230 | Ownership: D (Direct)
Footnotes:
[F4] Restricted stock units convert into common stock at 1-for-1.
[F9] This restricted stock unit award was granted under the Company's Amended and Restated 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The award is scheduled to vest in six equal installments on each July 15 of 2026, 2027 and 2028, and January 15 of 2027, 2028 and 2029.
[F9] This restricted stock unit award was granted under the Company's Amended and Restated 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The award is scheduled to vest in six equal installments on each July 15 of 2026, 2027 and 2028, and January 15 of 2027, 2028 and 2029.
[Transaction #2]
Security: Stock Option (Right-to-Buy)
Date: 2026-01-15 | Code: A (Grant or award)
Shares: +14,558 | Price: $0.00
Exercisable: N/A | Expires: 2036-01-15
Shares Owned After: 14,558 | Ownership: D (Direct)
Footnotes:
[F10] Option was granted under the Company's Amended and Restated 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The option is scheduled to vest in six equal installments on each July 15 of 2026, 2027 and 2028, and January 15 of 2027, 2028 and 2029.
[Transaction #3]
Security: Restricted Stock Unit
Date: 2026-01-15 | Code: M (Exercise of derivative)
Shares: -1,939 | Price: $0.00
Shares Owned After: 7,824 | Ownership: D (Direct)
Footnotes:
[F4] Restricted stock units convert into common stock at 1-for-1.
[F3] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,956 stock units on
each of July 15, 2026 and 2027, and January 15, 2027 and 2028. Includes dividend equivalents accrued on the award.
[F3] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,956 stock units on
each of July 15, 2026 and 2027, and January 15, 2027 and 2028. Includes dividend equivalents accrued on the award.
[Transaction #4]
Security: Restricted Stock Unit
Date: 2026-01-17 | Code: M (Exercise of derivative)
Shares: -1,162 | Price: $0.00
Shares Owned After: 1,162 | Ownership: D (Direct)
Footnotes:
[F4] Restricted stock units convert into common stock at 1-for-1.
[F6] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,162 stock units on July 17, 2026. Includes dividend equivalents accrued on the award.
[F6] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,162 stock units on July 17, 2026. Includes dividend equivalents accrued on the award.
--- Holdings ---
[Holding #1]
Security: Disney Common Stock
Ownership: I (Indirect)
[Holding #2]
Security: Disney Common Stock
Ownership: I (Indirect)
Footnotes:
[F8] Shares held in The Walt Disney Stock Fund as of January 15, 2026. The Fund is one investment option in the 401(k) Plan and contains Company matching contributions.
--- Footnotes (Complete Index) ---
F1: The 3 shares reported as a disposition represent an automatic reduction of shares issued to the reporting person to discharge withholding tax obligations of reporting person and do not constitute an actual sale or other open-market transaction.
F10: Option was granted under the Company's Amended and Restated 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The option is scheduled to vest in six equal installments on each July 15 of 2026, 2027 and 2028, and January 15 of 2027, 2028 and 2029.
F2: Total includes dividend equivalents distributed with respect to previously vested restricted stock units.
F3: Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,956 stock units on
each of July 15, 2026 and 2027, and January 15, 2027 and 2028. Includes dividend equivalents accrued on the award.
F4: Restricted stock units convert into common stock at 1-for-1.
F5: The 542 shares reported as a disposition represent an automatic reduction of shares issued to the reporting person to discharge withholding tax obligations of reporting person and do not constitute an
actual sale or other open-market transaction.
F6: Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The remaining stock units vest as to 1,162 stock units on July 17, 2026. Includes dividend equivalents accrued on the award.
F7: The 256 shares reported as a disposition represent an automatic reduction of shares issued to the reporting person to discharge withholding tax obligations of reporting person and do not constitute an actual sale or other open-market transaction.
F8: Shares held in The Walt Disney Stock Fund as of January 15, 2026. The Fund is one investment option in the 401(k) Plan and contains Company matching contributions.
F9: This restricted stock unit award was granted under the Company's Amended and Restated 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The award is scheduled to vest in six equal installments on each July 15 of 2026, 2027 and 2028, and January 15 of 2027, 2028 and 2029.
--- Signature ---
/s/ /s/ Carla J. Silva, as attorney-in-fact (2026-01-20)
