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.