Roy Disney Sold 1.22 Million Shares in June

Walt Disney Co. Vice Chairman Roy Disney and his wife sold 1.22 million of the entertainment company’s shares, worth about $100 million, last month as the stock fell from record highs, the firm said.

Disney, 66, nephew of founder Walt Disney, and his wife sold the shares through two charitable trusts that will provide income to the couple and disburse money to charity after their deaths, a spokesman said. The sale constituted about a sixth of Roy Disney’s holdings.

Disney shares have fallen 8% since their high of $85.13 on May 12 amid disappointment over the box-office results of the animated feature “Hercules” and concerns about the performance of Disney’s broadcast network, ABC.