On January 31, 2024, Trian Fund Management, L.P announced that it had filed a preliminary proxy statement soliciting proxies and urged the shareholders of The Walt Disney Company to vote for its board nominees Nelson Peltz and James A. Rasulo to serve as directors of the Company and Trian?s proposal to repeal certain bylaws. Trian recommends voting against the Company's proposal of Considering an advisory vote to approve executive compensation and requesting an advisory vote on board size and related vacancies. Additionally, Trian makes no recommendation on proposals of approval of an amendment and restatement of the Company?s amended and restated 2011 stock incentive plan, proposal requesting shareholder ratification of excessive golden parachutes, and proposal requesting a political expenditures report at the Company?s annual meeting of shareholders.

Trian Group urged shareholders to withhold votes for directors Michael B.G. Froman and Maria Elena Lagomasino. Furthermore, Trian Group requested that shareholders withhold their votes on three candidates Craig Hatkoff, Jessica Schell and Leah Solivan nominated by Blackwells Capital LLC.