Siobhan Lane - 20 Mar 2024 Form 4 Insider Report for Light & Wonder, Inc. (LNW)

Role: SVP & CEO - Gaming
Signature: /s/ James Sottile, attorney-in-fact for Siobhan Lane
Issuer symbol: LNW
Transactions as of: 20 Mar 2024
Net transactions value: -$738,987
Form type: 4
Filing time: 22 Mar 2024, 20:49:12 UTC
Previous filing: 07 Mar 2024
Next filing: 22 Nov 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LNW	Common Stock	Exercise of in-the-money or at-the-money derivative security	$0	+7,606	+67%	$0.000000	18,908	20 Mar 2024	Direct
transaction	LNW	Common Stock	Tax liability	$322,653	-3,233	-17%	$99.80	15,675	20 Mar 2024	Direct	F1
transaction	LNW	Common Stock	Options Exercise	$0	+4,371	+28%	$0.000000	20,046	20 Mar 2024	Direct
transaction	LNW	Common Stock	Tax liability	$185,428	-1,858	-9.3%	$99.80	18,188	20 Mar 2024	Direct	F1
transaction	LNW	Common Stock	Exercise of in-the-money or at-the-money derivative security	$0	+5,332	+29%	$0.000000	23,520	20 Mar 2024	Direct
transaction	LNW	Common Stock	Tax liability	$230,905	-2,266	-9.6%	$101.90	21,254	20 Mar 2024	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-4,375	-100%	$0.000000^*	0	20 Mar 2024	Common Stock	4,375		Direct	F2
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-921	-100%	$0.000000^*	0	20 Mar 2024	Common Stock	921		Direct	F3
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-2,763	-100%	$0.000000^*	0	20 Mar 2024	Common Stock	2,763		Direct	F4
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-2,569	-100%	$0.000000^*	0	20 Mar 2024	Common Stock	2,569		Direct	F5
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-2,310	-50%	$0.000000	2,310	20 Mar 2024	Common Stock	2,310		Direct	F6
transaction	LNW	Restricted Stock Units	Options Exercise	$0	-4,371	-33%	$0.000000	8,744	20 Mar 2024	Common Stock	4,371		Direct	F7
transaction	LNW	Restricted Stock Units	Award	$0	+7,514		$0.000000	7,514	20 Mar 2024	Common Stock	7,514		Direct	F8
transaction	LNW	Restricted Stock Units	Award	$0	+3,758		$0.000000	3,758	20 Mar 2024	Common Stock	3,758		Direct	F9
transaction	LNW	Restricted Stock Units	Award	$0	+3,758		$0.000000	3,758	20 Mar 2024	Common Stock	3,758		Direct	F10

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the satisfaction of tax withholding obligations upon the vesting of restricted stock units.
F2	Represents the vesting of one-fourth of restricted stock units granted on April 3, 2020. The award has fully vested. Each restricted stock unit converted into a share of class A common stock on a one-for-one basis.
F3	Represents the vesting of one-third of restricted stock units granted on March 22, 2021. The award has fully vested. Each restricted stock unit converted into a share of class A common stock on a one-for-one basis.
F4	Represents the cliff vesting of restricted stock units granted on March 22, 2021 subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 100% of the RSUs vested and converted into a share of class A common stock on a one-for-one basis.
F5	Represents the cliff vesting of restricted stock units granted on March 22, 2021 subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 93% of the RSUs vested and converted into a share of class A common stock on a one-for-one basis.
F6	Represents the vesting of one-third of restricted stock units granted on March 20, 2022. The balance of the award is scheduled to vest on March 20, 2025. Each restricted stock unit converts into a share of class A common stock on a one-for-one basis.
F7	Represents the vesting of one-third of restricted stock units granted on March 24, 2023. The balance of the award is scheduled to vest in two equal installments of 4,372 shares on March 20, 2025 and March 20, 2026. Each restricted stock unit converts into a share of class A common stock on a one-for-one basis.
F8	The restricted stock units are scheduled to vest on March 20, 2025 (2,504 shares), March 20, 2026 (2,505 shares) and March 20, 2027 (2,505 shares). Each unit converts into a share of common stock on a one-for-one basis.
F9	The restricted stock units are scheduled to cliff vest on March 20, 2027, contingent upon the achievement of a performance goal. If the performance goal is not met by December 31, 2026, all restricted stock units are forfeited. Each unit converts into a share of common stock on a one-for-one basis.
F10	The restricted stock units are scheduled to cliff vest on March 20, 2027, contingent upon the achievement of a performance goal. If the performance goal is not met by December 31, 2026, all restricted stock units are forfeited. Each unit converts into a share of common stock on a one-for-one basis.