MUMBAI: Walt Disney CEO Robert A. Iger sold 200,000 shares of the company worth $21.7 million on the open market.

The shares were sold on 11 May at an average price of $108.73.

Additionally, according to an SEC filing, Iger also gifted 90,900 shares this week to an unknown beneficiary.

However, Iger continues to hold more than 1.1 million shares in the company, which are valued at approximately $124 million.

According to a statement issued by Disney, the sale was a part of Iger’s normal diversification of his portfolio.