Form 4: Disney Director Amy Chang Acquires Additional Shares Through Stock Incentive Plan

Director Amy Chang acquired 794.3 shares of Disney common stock through a stock incentive plan and dividend reinvestment.

Summary

• On March 31, 2024, Amy Chang, a director of The Walt Disney Company, acquired 794.3 shares of Disney common stock.
• The acquisition was made through the company's Amended and Restated 2011 Stock Incentive Plan.
• 267.2 shares were credited due to elective deferral provisions, and 527.1 shares were credited as a quarterly grant under the plan.
• The acquisition also includes an adjustment for dividends accrued pursuant to a dividend reinvestment plan.
• The price per share was $116.95.
• Following the transaction, Chang directly owns 7,664.2 shares and indirectly owns 120 shares through a trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction (director acquiring shares) which is generally viewed as a sign of confidence, but it's not a major event.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• The stock incentive plan and dividend reinvestment plan provide a means for directors to increase their stake in the company.

Industry Context

Directors acquiring shares in their own companies is a common practice, often seen as a vote of confidence in the company's prospects. Stock incentive plans are a typical component of executive compensation packages.

Comparison to Industry Standards

• Stock ownership by board members is generally viewed favorably by investors, aligning the interests of directors with those of shareholders.
• Companies like Apple, Microsoft, and Amazon also utilize stock incentive plans for their executives and directors.

Stakeholder Impact

• The acquisition of shares by a director could have a slightly positive impact on shareholder sentiment.

Key Dates