Disney

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-09-23 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: 2026-09-23 | Code: M (Exercise of derivative) Shares: +1,060 Shares Owned After: 63,388 | Ownership: D (Direct) Footnotes: [F1] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The award vested in two substantially equal annual installments, which began on September 23, 2025. Includes dividend equivalents accrued on the award. [F2] Restricted stock units convert into common stock at 1-for-1. [Transaction #2] Security: Disney Common Stock Date: 2026-09-23 | Code: F (Payment of exercise/tax) Shares: -393 | Price: $103.66 Total Value: $40,738.38 Shares Owned After: 62,995 | Ownership: D (Direct) Footnotes: [F3] The 393 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: 2026-09-23 | Code: M (Exercise of derivative) Shares: -1,060 | Price: $0.00 Shares Owned After: 0 | Ownership: D (Direct) Footnotes: [F2] Restricted stock units convert into common stock at 1-for-1. [F1] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The award vested in two substantially equal annual installments, which began on September 23, 2025. Includes dividend equivalents accrued on the award. [F1] Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The award vested in two substantially equal annual installments, which began on September 23, 2025. 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: [F4] Shares held in The Walt Disney Stock Fund as of September 23, 2026. The Fund is one investment option in the 401(k) Plan and contains Company matching contributions. --- Footnotes (Complete Index) --- F1: Vesting of restricted stock units previously granted under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan. The award vested in two substantially equal annual installments, which began on September 23, 2025. Includes dividend equivalents accrued on the award. F2: Restricted stock units convert into common stock at 1-for-1. F3: The 393 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. F4: Shares held in The Walt Disney Stock Fund as of September 23, 2026. The Fund is one investment option in the 401(k) Plan and contains Company matching contributions. --- Signature --- /s/ /s/ Karen Young, as attorney-in-fact (2026-09-25)