Walt Disney Co — Director's Dealing 2019

Dec 24, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Walt Disney Co (DIS)
CIK: 0001744489
Period of Report: 2019-12-21

Reporting Person: Mucha Zenia B. (SEVP & Chief Comms Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-21	Disney Common Stock	M	1499.6718	$146.825	Acquired	26655.6718	Direct
2019-12-21	Disney Common Stock	F	709.6718	$146.825	Disposed	25946	Direct
2019-12-21	Disney Common Stock	M	5544.9173	$146.825	Acquired	31490.9173	Direct
2019-12-21	Disney Common Stock	F	2750.9173	$146.825	Disposed	28740	Direct
2019-12-22	Disney Common Stock	M	238	$146.825	Acquired	28978	Direct
2019-12-22	Disney Common Stock	F	238	$146.825	Disposed	28740	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-12-21	Restricted Stock Unit	$	M	1499.6718	Disposed	2019-12-21	Disney Common Stock (1499.6718)	Direct
2019-12-21	Restricted Stock Unit	$	M	5544.9173	Disposed	2019-12-21	Disney Common Stock (5544.9173)	Direct
2019-12-22	Restricted Stock Unit	$	M	238	Disposed	2022-12-19	Disney Common Stock (238.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Disney Common Stock	2676.068	Indirect

Footnotes

F1: Vesting of shares connected with grant under The Walt Disney Company's 2002 Executive Performance Plan and 2011 Stock Incentive Plan, previously reported on a Form 4 dated December 5, 2019. Includes dividend equivalents credited with respect to the award, pursuant to the terms thereof.

F2: The 709.6718 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. The total also reflects a deduction for cash paid in lieu of fractional shares upon conversion of previously-granted units to shares.

F3: The 2,750.9173 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. The total also reflects a deduction for cash paid in lieu of fractional shares upon conversion of previously-granted units to shares.

F4: Vesting is limited to shares necessary to cover withholding obligations related to future vestings.

F5: The 238 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.

F6: Shares held in The Walt Disney Stock Fund as of December 20, 2019. The Fund is one investment option in the 401(k) Plan and contains Company matching contributions.

F7: Converts at 1-for-1.