Form 4: Walt Disney Co. Executive Sonia L. Coleman Reports Stock Transactions
SEC Form 4 Filing
Sonia L. Coleman, a Senior EVP and Chief HR Officer at Walt Disney Co., reported the vesting of restricted stock units and subsequent tax obligation fulfillment through share disposals.
Summary
- On June 14, 2024, Sonia L. Coleman vested 1,339 shares of Disney common stock from restricted stock units.
- Also on June 14, 2024, 478 shares were disposed of to cover withholding tax obligations at a price of $99.815 per share.
- Following these transactions, Coleman directly owns 861 shares of Disney common stock.
- On June 15, 2024, Coleman vested 1,096 shares of Disney common stock from restricted stock units.
- Also on June 15, 2024, 392 shares were disposed of to cover withholding tax obligations at a price of $99.815 per share.
- Following these transactions, Coleman directly owns 1,565 shares of Disney common stock.
- Coleman also indirectly owns 861.97 shares through a 401(k) plan as of June 15, 2024.
- The remaining 1,340 stock units vest on December 14, 2024.
- The remaining stock units vest as to 1,096 stock units on each December 15 of 2024 and 2025, and as to 1,096 stock units on June 15, 2025.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and compliance with SEC regulations, indicating a neutral to slightly positive sentiment due to alignment of executive interests with company performance.
Positives
- The vesting of restricted stock units indicates a form of compensation and alignment of interests between the executive and the company's performance.
Future Outlook
The remaining 1,340 stock units vest on December 14, 2024, and additional stock units vest on December 15, 2024, December 15, 2025, and June 15, 2025.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice among publicly traded companies to ensure transparency and compliance with SEC regulations.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term company performance, similar to practices at companies like Netflix, Paramount, and Warner Bros. Discovery.
- The disposal of shares to cover tax obligations is a standard procedure in executive compensation, ensuring compliance with tax laws.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted stock units and subsequent tax-related disposals.
Key Dates
| Date | Description |
|---|---|
| 06/14/2024 | Vesting of 1,339 shares of Disney common stock and disposition of 478 shares for tax obligations. |
| 06/15/2024 | Vesting of 1,096 shares of Disney common stock and disposition of 392 shares for tax obligations; shares held in The Walt Disney Stock Fund as of this date. |
| 06/18/2024 | Date of signature by attorney-in-fact, Jolene E. Negre. |
| 12/14/2024 | Remaining 1,340 stock units vest. |
| 12/15/2024 | 1,096 stock units vest. |
| 06/15/2025 | 1,096 stock units vest. |
| 12/15/2025 | 1,096 stock units vest. |
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