Walt Disney Co. Form 8-K Summary
Business context and reporting period
The Walt Disney Company filed a Form 8-K dated March 9, 2022, reporting the final voting results from its annual meeting of shareholders held that day. The filing is not a quarterly or annual financial report.
Financial metrics and liquidity
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating and financial metrics.
Material changes and shareholder voting results
- All 11 nominees were elected to the board of directors. The highest support was received by Safra A. Catz, with 1,134,063,866 votes for; the lowest support was received by Maria Elena Lagomasino, with 1,096,184,406 votes for.
- Shareholders ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm: 1,379,477,812 votes for, 58,256,177 against, and 4,227,121 abstentions.
- The advisory vote approving executive compensation passed: 982,828,273 votes for, 171,646,090 against, and 6,691,391 abstentions, excluding broker non-votes of 280,795,356.
- Shareholder proposals concerning lobbying disclosures, lowering the special-meeting ownership threshold, a human-rights diligence report, a workplace non-discrimination audit, and related reports were not approved.
- The proposal requesting disclosure of median and adjusted pay gaps across race and gender received 686,478,918 votes for and 464,919,023 against and was not approved based on the reported totals.
Guidance, outlook, risks, and unusual items
The filing contains no management guidance, business outlook, risk-factor update, contingencies, or unusual financial items. It reports corporate-governance and shareholder-vote matters only.
Important facts for investors to verify
- Confirm the election and voting margins for each director, including the level of broker non-votes.
- Review the advisory executive-compensation vote and the company’s subsequent response to shareholder sentiment.
- Verify the status and implications of each shareholder proposal that did not pass.
- Use the company’s applicable quarterly or annual filing for current financial performance, debt, liquidity, and outlook information.