Form 4: Mary T. Barra Acquires Disney Stock Units Through Incentive Plan and Dividend Reinvestment

Director Mary T. Barra acquired 1,063.4 shares of Disney common stock on September 30, 2024, through a combination of stock units credited under The Walt Disney Company's Amended and Restated 2011 Stock Incentive Plan and dividend reinvestment.

Summary

• On September 30, 2024, Mary T. Barra, a director of The Walt Disney Company, acquired 1,063.4 shares of Disney common stock.
• The acquisition was made through the company's Amended and Restated 2011 Stock Incentive Plan and a dividend reinvestment plan.
• 365 stock units were credited to Barra's account under the elective deferral provisions of the plan.
• An additional 698.4 stock units were credited as a quarterly grant under the plan, as described in the company's compensation policy for non-employee directors.
• The total also reflects an adjustment crediting the amount to include dividends accrued pursuant to a dividend reinvestment plan of the Company.
• Following the transaction, Barra directly owns 20,964 shares of Disney common stock.
• Barra also indirectly owns 157 shares through a spouse's trust and 72 shares through another trust.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation and stock ownership, which is generally viewed neutrally to positively as it aligns director interests with shareholders.

Positives

• Director's participation in the stock incentive plan and dividend reinvestment plan demonstrates alignment with shareholder interests.
• Increased ownership stake by a director can be viewed positively by investors.

Industry Context

This filing is a routine disclosure of a director's stock ownership changes, which is common for publicly traded companies. It reflects standard compensation practices and investment activities of corporate insiders.

Comparison to Industry Standards

• Director stock ownership and incentive plans are standard practice among publicly traded companies like Disney.
• Companies such as Comcast, Netflix, and Paramount Global also have similar stock ownership guidelines and incentive plans for their directors and executives.
• The amount of stock acquired by Mary T. Barra is within the typical range for director compensation and investment activities.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with those of the shareholders.

Key Dates