SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a)

of the Securities Exchange Act of 1934

 

 

Filed by the Registrant o

 

Filed by a Party other than the Registrant x

 

Check the appropriate box:

 

o	Preliminary Proxy Statement
o	Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
o	Definitive Proxy Statement
o	Definitive Additional Materials
x	Soliciting Material Under Rule 14a-12

 

The Walt Disney Company

(Name of Registrant as Specified in Its Charter)

 

Trian Fund Management, L.P.

Trian Fund Management GP, LLC

Trian Partners, L.P.

Trian Partners Parallel Fund I, L.P.

Trian Partners Master Fund, L.P.

Trian Partners Fund (Sub)-G, L.P.

Trian Partners Strategic Investment Fund-A, L.P.

Trian Partners Strategic Investment Fund-N, L.P.

Trian Partners Strategic Fund-G II, L.P.

Trian Partners Strategic Fund-G III, L.P.

Trian Partners Strategic Fund-K, L.P.

Trian Partners Co-Investment Opportunities Fund, Ltd.

Nelson Peltz

Peter W. May

Edward P. Garden

Matthew Peltz

 

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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x	No fee required.
o	Fee computed on table below per Exchange Act Rule 14a-6(i)(4) and 0-11.

 

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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

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o	Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

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The following contains statements by Trian Fund Management, L.P. that, beginning on January 12, 2023, will be advertised on search engines and social media platforms that will direct viewers to www.RestoretheMagic.com. In some cases, references to “Disney” in these statements may be replaced with “DIS.”

 

 

Restore the Magic at Disney

 

View Trian’s Case for Change

 

Reinstate the dividend

 

Trian believes one of the most advantaged consumer entertainment companies is in crisis.

 

Disney’s Total Shareholder Return has materially underperformed the S&P 500.

 

Trian believes that investor sentiment on Disney is low. It’s time to Restore the Magic

 

$DIS demonstrates poor corporate governance, strategy & operations, and capital allocation

 

Meet candidate Nelson Peltz

 

Learn about Trian Partners

 

Trian’s objective is to create long-term value at $DIS by working with Bob Iger & Board.

 

Disney is undergoing a lot of change; Trian is NOT trying to create additional instability.

 

Read the latest news, letters, press releases, presentations and SEC filings.

 

Restore the Magic for Disney shareholders, learn about Trian’s initiatives.

SEC Filings