Form 4: Disney Executive Exercises Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Kristina K. Schake, a Senior EVP and Chief Communications Officer at Walt Disney Co, exercised stock options and disposed of shares to cover tax obligations on December 27, 2024.
Summary
- Kristina K. Schake, a Senior EVP and Chief Communications Officer at Walt Disney Co, exercised 3,642 stock options on December 27, 2024.
- These stock options were part of a grant under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan.
- The remaining 3,642 stock units vest on June 27, 2025.
- Additionally, 1,846 shares were disposed of at a price of $111.49 per share to cover withholding tax obligations.
- This disposition was not an open-market transaction but an automatic reduction of shares.
- Following these transactions, Ms. Schake directly owns 13,549 shares of Disney common stock.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative sentiment. It is a routine filing.
Positives
- The exercise of stock options indicates confidence in the company's future performance by a key executive.
Future Outlook
The remaining 3,642 stock units vest on June 27, 2025.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects standard practices for stock-based compensation and tax obligations.
Comparison to Industry Standards
- The vesting schedule and tax withholding practices are consistent with standard executive compensation practices in large publicly traded companies like Disney.
- Similar filings are regularly made by executives at companies such as Netflix (NFLX), Comcast (CMCSA), and Warner Bros. Discovery (WBD) when they exercise stock options or receive restricted stock units.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 12/27/2024 | Date of stock option exercise and share disposition. |
| 06/27/2025 | Date when the remaining 3,642 stock units vest. |
| 12/30/2024 | Date of signature on the SEC Form 4 filing. |
Keywords
stock options, insider trading, executive compensation, SEC Form 4, Walt Disney Co, DIS, restricted stock units, tax obligations
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