On November 4, 2025, a subsidiary of The Walt Disney Company (the “Company”) and Horacio E. Gutierrez, the Company’s Senior Executive Vice President, Chief Legal and Compliance Officer, entered into an amendment (the “Amendment”) to Mr. Gutierrez’s employment agreement.
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. The Amendment increases Mr. Gutierrez’s target long-term equity incentive annual award value to $12,365,000, commencing with the Company’s current fiscal year. The amendment does not increase Mr. Gutierrez’s current base salary or target annual bonus opportunity.
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