Just four months after announcing the sale of Lucasfilm production company to Disney in a $4 billion deal, George Lucas, the screenwriter and director best known for the Star Wars series, has made a move toward cashing out — big time.
In a regulatory document filed today with the Securities and Exchange Commission, Disney disclosed that George Lucas’ personal trust has registered for the ability to sell his two percent stake in the entertainment conglomerate, which could net him a total of $1.99 billion. The Lucasfilm sale made George Lucas Disney’s second largest single shareholder; the first is the estate of the late Steve Jobs.
Per the document, Lucas now has the go-ahead to sell a total of 37,076,679 shares of Walt Disney Company common stock at a proposed price of $53.77 per share. The registration covers all of the stock that Lucas received as part of the Lucasfilm acquisition — after the registered stock is sold off, the document says, he will no longer own any portion of Disney stock.