The Walt Disney Company Reports Executive Employment Agreement Amendment
Summary
On November 4, 2025, a subsidiary of The Walt Disney Company amended Horacio E. Gutierrez's employment agreement, extending his term to September 30, 2028, and changing his title to Senior Executive Vice President, Chief Legal and Global Affairs Officer. The amendment increases Mr. Gutierrez's target long-term equity incentive annual award value to $12,365,000, commencing with the current fiscal year. It also provides specific vesting terms for equity awards granted in January 2025 and fiscal year 2026, treating termination on or after December 31, 2026, as a scheduled expiration for vesting purposes.
Why It Matters
This amendment, detailed in Exhibit 10.1 and Item 5.02, signals the company's commitment to retaining a key executive by extending his term and significantly increasing his long-term equity compensation, which could impact future governance and legal strategies.
These filing summaries are free and always will be. If this helped you spot material events, consider supporting us.
Want to see how DIS traded around this filing?
Check real-time charts and technical analysis on TradingView to see market reaction to this event.
View DIS Charts on TradingViewAffiliate link
Key Quote
“Pursuant to the Amendment, the term of Mr. Gutierrez's employment agreement was extended to September 30, 2028, and Mr. Gutierrez's title was changed to Senior Executive Vice President, Chief Legal and Global Affairs Officer.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001744489
- Filing Date
- Friday, November 7, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive