It's official! The Black Widow movie is finally happening and it's going to be the first title released in Phase 4 of the MCU. Scarlet Johannsson will be returning as Natasha Romanof. Joining Johannson in the cast will be David Harbour, Florence Pugh, O-T Fagbenle, and Rachel Weisz. Cart Shortland is in the director's chair for the movie, which is set to arrive in theaters on May 1, 2020. Mark your calendars, Marvel fans. We've been waiting a long time for this one.

Marvel Studios President Kevin Feige brought the cast and director Cate Shortland out on the San Diego Comic-Con stage to discuss a bit about the highly-anticipated movie, which has already started filming. As far as the timeline goes, it will take place after the events of Captain America: Civil War, yet before the events of Infinity War and Avengers: Endgame. That explains how this is going to be possible in the first place, given what happened to Black Widow. Perhaps most importantly, it was confirmed that the movie will showcase what happened in Budapest! This is something fans have wanted to know about since The Avengers, when Natasha and Hawkeye had an exchange about it.

RELATED: Black Widow Is Free to Stream for All Disney+ Subscribers This Wednesday

It's also been confirmed that Taskmaster is the main villain. Some footage was shown, which showcased the Budapest action. Taskmaster showed up at the very end, but we didn't get to see who was under the mask. The villain's inclusion has been heavily rumored for some time.

As for the rest of the cast, Florence Pugh is on board as Yelena Belova, who is actually another character within the pages of Marvel Comics that has held the title of Black Widow. David Harbour is playing someone by the name of Alexie, while Rachel Weisz's character remains something of a mystery, but her name is Melina. The movie is said to deal with some of Natasha's secrets and will help us better understand her past.

Scarlett Johansson boarded the Marvel Cinematic Universe way back during Iron Man 2. She's been a huge part of the universe ever since. Yet, she's never had the chance to lead her own movie, despite the fact that fans have been calling for it ever since the Phase 2 announcement. Now, she'll finally get her chance. Cate Shortland, known for her work on Lore, will be the first female director to fly solo on an MCU movie, which is a big deal.

Other movies announced during the panel included Eternals, Shang-Chi and the Legend of the Ten Rings, Doctor Strange in the Multiverse of Madness, Thor: Love and Thunder and a new Blade movie starring Mahershala Ali. Needless to say, the MCU just got a whole lot more interesting. We'll be sure to keep you posted as any further details regarding Marvel's Phase 4 slate are made available. Be sure to check out the Black Widow movie logo from the Marvel Studios Twitter account below.