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Disney | 11-K: Annual report of employee stock purchase, savings and similar plans (and amendment thereto)

SEC announcement ·  Jun 21 05:03
Summary by Futu AI
The Walt Disney Company has filed its Form 11-K with the SEC, detailing the annual financial performance of the Disney Hourly Savings and Investment Plan for the fiscal year ended December 31, 2023. The report, audited by Moss Adams LLP, indicates that the Plan's net assets available for benefits increased from $1,043,928,000 in 2022 to $1,289,935,000 in 2023. The Plan, which is a defined contribution plan for Disney's hourly employees, allows participants to save for retirement on a tax-deferred basis and includes an Employee Stock Ownership Plan component. Contributions to the Plan can be made in pre-tax or after-tax Roth contributions, with the company providing matching contributions. The Plan's investments are held in the Disney Savings Plan Master Trust, which saw a net investment income of $172,461,000 for the year. The Plan is fully compliant with ERISA and the Internal Revenue Code, and there were no uncertain tax positions requiring disclosure. Transactions with related parties, such as the Plan's trustee, Fidelity, were reported as exempt from ERISA's prohibited transaction provisions.
The Walt Disney Company has filed its Form 11-K with the SEC, detailing the annual financial performance of the Disney Hourly Savings and Investment Plan for the fiscal year ended December 31, 2023. The report, audited by Moss Adams LLP, indicates that the Plan's net assets available for benefits increased from $1,043,928,000 in 2022 to $1,289,935,000 in 2023. The Plan, which is a defined contribution plan for Disney's hourly employees, allows participants to save for retirement on a tax-deferred basis and includes an Employee Stock Ownership Plan component. Contributions to the Plan can be made in pre-tax or after-tax Roth contributions, with the company providing matching contributions. The Plan's investments are held in the Disney Savings Plan Master Trust, which saw a net investment income of $172,461,000 for the year. The Plan is fully compliant with ERISA and the Internal Revenue Code, and there were no uncertain tax positions requiring disclosure. Transactions with related parties, such as the Plan's trustee, Fidelity, were reported as exempt from ERISA's prohibited transaction provisions.
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