The Walt Disney Company Reports CFO Employment Agreement Amendment
Summary
On November 10, 2025, The Walt Disney Company and Hugh F. Johnston, Senior Executive Vice President and Chief Financial Officer, entered into an amendment to Mr. Johnston's employment agreement (via Ex. 10.1). The amendment extends Mr. Johnston's employment term to January 31, 2029. It also increases his target long-term equity incentive annual award value to $16,500,000, commencing with the Company's current fiscal year. The amendment does not increase his current base salary or target annual bonus opportunity, and includes specific provisions for equity awards granted in January 2025 and fiscal year 2026 regarding continued vesting upon certain terminations.
Why It Matters
This amendment extends the tenure of a key executive, the CFO, until January 2029, providing leadership stability. The significant increase in his target long-term equity incentive award to $16,500,000 signals a material change in executive compensation and retention strategy.
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Key Quote
“Pursuant to the Amendment, the term of Mr. Johnston's employment agreement was extended to January 31, 2029.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001744489
- Filing Date
- Wednesday, November 12, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive