Horacio E. Gutierrez - 15 Jan 2026 Form 4 Insider Report for Walt Disney Co (DIS)

Role: SEVP, CL&GAO
Signature: /s/ Carla J. Silva, as attorney-in-fact
Issuer symbol: DIS
Transactions as of: 15 Jan 2026
Net transactions value: -$332,632
Form type: 4
Filing time: 20 Jan 2026, 17:32:00 UTC
Previous filing: 17 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Gutierrez Horacio E	SEVP, CL&GAO	500 SOUTH BUENA VISTA STREET, BURBANK	/s/ Carla J. Silva, as attorney-in-fact	20 Jan 2026	0001905613

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DIS	Disney Common Stock	Tax liability	$9,391	-83	-0.16%	$113.14	53,372	15 Jan 2026	Direct	F1, F2
transaction	DIS	Disney Common Stock	Options Exercise		+7,802	+15%		61,174	15 Jan 2026	Direct	F3, F4
transaction	DIS	Disney Common Stock	Tax liability	$323,241	-2,857	-4.7%	$113.14	58,317	15 Jan 2026	Direct	F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DIS	Restricted Stock Unit	Options Exercise	$0	-7,802	-33%	$0.000000	15,761	15 Jan 2026	Disney Common Stock	7,802		Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The 83 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. The total also reflects a deduction for cash paid in lieu of fractional shares upon conversion of previously-granted units to shares.
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 7,880 stock units on January 15, 2027, and 7,881 stock units on January 15, 2028. Includes dividend equivalents accrued on the award.
F4	Restricted stock units convert into common stock at 1-for-1.
F5	The 2,857 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.