The company said a subsidiary entered into an amendment to the employment agreement with Horacio E. Gutierrez on November 4, 2025, which extended the term of his employment agreement to September 30, 2028.

1. 01

   The company said a subsidiary entered into an amendment to the employment agreement with Horacio E. Gutierrez on November 4, 2025, which extended the term of his employment agreement to September 30, 2028.

2. 02

   The company said the amendment changed Gutierrez's title from Senior Executive Vice President, Chief Legal and Compliance Officer to Senior Executive Vice President, Chief Legal and Global Affairs Officer.

3. 03

   Disney said the amendment increases Gutierrez's target long-term equity incentive annual award value to $12,365,000, effective in the current fiscal year. It said the amendment does not increase his current base salary or target annual bonus opportunity.

4. 04

   The company said that for equity awards granted to Gutierrez in January 2025 and in fiscal 2026, a termination of employment on or after December 31, 2026 will be treated as a termination upon the scheduled expiration date of his employment agreement term for purposes of continued vesting, exercisability or other rights under the applicable award agreements.

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