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 |
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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). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Walt Disney Co [ DIS ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 12/17/2020 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | 12/17/2020 | M | 1,618(1) | A | $173.4 | 18,781 | D | |||
Disney Common Stock | 12/17/2020 | F | 803(2) | D | $173.4 | 17,978 | D | |||
Disney Common Stock | 12/17/2020 | M | 35,906(3) | A | $72.59 | 53,884 | D | |||
Disney Common Stock | 12/17/2020 | S | 35,906(3) | D | $173.3433 | 17,978 | D | |||
Disney Common Stock | 2,723.678(4) | I | By 401(k) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Restricted Stock Unit | (5) | 12/17/2020 | M | 1,618 | (1) | 12/17/2020 | Disney Common Stock | 1,618 | $0 | 0 | D | ||||
Stock Option (Right-to-Buy) | $72.59 | 12/17/2020 | M | 35,906 | (6) | 01/19/2023 | Disney Common Stock | 35,906 | $0 | 0 | D | ||||
Stock Option (Right-to-Buy) | $173.4 | 12/17/2020 | A | 22,938 | (7) | 12/17/2030 | Disney Common Stock | 22,938 | $0 | 22,938 | D | ||||
Restricted Stock Unit | (5) | 12/17/2020 | A | 5,525 | (8) | 12/17/2024 | Disney Common Stock | 5,525 | $0 | 5,525 | D |
Explanation of Responses: |
1. Vesting of shares connected with grant under The Walt Disney Company's 2002 Executive Performance Plan and 2011 Stock Incentive Plan. |
2. The 803 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. |
3. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person. Shares were sold in 63 incremental transactions pursuant to a single sell order. Sale prices of individual transactions ranged from $173.11 to $173.75. Upon request, the reporting person will provide to the Securities and Exchange Commission, to the Issuer of the securities herein, or to a securities holder the complete sales data, including the number of shares sold at each separate price. |
4. Shares held in The Walt Disney Stock Fund as of December 17, 2020. The Fund is one investment option in the 401(k) Plan and contains Company matching contributions. |
5. Converts at 1-for-1. |
6. The option is fully vested. |
7. Options were granted under the Company's 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The options vest in four equal installments on each December 17 of 2021 through 2024. In connection with this stock option award, the reporting person also was awarded restricted stock units whose vesting is subject to performance vesting criteria. The number of stock units vesting depends on the extent to which the performance criteria are satisfied, and ranges from zero to 7,194. |
8. This restricted stock unit award was granted under the Company's 2011 Stock Incentive Plan in a transaction exempt under Rule 16(b)-3. The award is scheduled to vest in four equal installments on each December 17 of 2021 through 2024. |
Remarks: |
/s/ Jolene E. Negre, as attorney-in-fact | 12/18/2020 | |
** 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. |