The Walt Disney Company 8-K

Summary

Disney leadership succession: Josh D’Amaro will become CEO and Dana Walden President and Chief Creative Officer, both effective 3/18/2026. Robert A. Iger will become Senior Advisor, reporting to the Board, and remain a director through 12/31/2026, subject to the 2026 annual-meeting vote; he will leave the Board’s Executive Committee after that meeting. D’Amaro, who leads Disney’s largest segment, succeeds Iger, while Walden takes a new enterprise-wide creative role.

Key Figures

• D’Amaro: annual base salary $2.5M; target annual bonus 250% of salary; annual long-term incentive award target $26.25M, adjustable by the Compensation Committee. The company recommended a one-time $9.705M target long-term incentive award.
• Walden: annual base salary $3.75M; target annual bonus 200% of salary; annual long-term incentive award target $15.75M for each full fiscal year of her agreement, which runs through 3/17/2030. The company recommended a one-time $5.26M target long-term incentive award.
• Under Disney’s Executive Severance Plan, qualifying terminations provide 2× annual base salary, or 2.5× for the CEO, plus a prorated target bonus, any unpaid prior-year bonus and 18 months of continued health benefits. Walden’s separate agreement provides remaining-term salary and specified bonus and equity treatment after a qualifying termination.

Investor Takeaways

• Watch the 3/18/2026 leadership transition and the expected appointment of D’Amaro to the Board after the annual meeting; Iger’s planned departure from the Board is 12/31/2026.