The Walt Disney Company on Wednesday registered with the Securities and Exchange Commission the transfer of more than 37 million shares of its stock to George Lucas, making him the second largest single shareholder in the entertainment giant after the estate of Steve Jobs.
Lucas' 37,076,679 shares in Disney, based on the company's current stock price, are worth about $2 billion. When approved, Lucas will have the ability to sell his shares in the company at any time within SEC guidelines.
Also Read: George Lucas Plans to Donate Portion of Disney Sale Proceeds to Education
The action is part of Disney's $4 billion cash-and-stock deal to acquire Lucasfilm from the "Star Wars" creator, who owned 100 percent of that company. Disney agreed to buy Lucasfilm Oct. 30 and the deal closed Dec. 21.
Lucas has previously said he would donate much of his new wealth to education. Since the sale, Disney has hired J.J. Abrams to direct a new "Star Wars" movie and is looking to launch spin-offs around certain characters.
For the Record: An earlier version of this story incorrectly stated that Lucas had registered his Disney shares with the SEC.