Siobhan Lane - 20 Mar 2025 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 2025
Net transactions value: -$697,283
Form type: 4
Filing time: 21 Mar 2025, 21:11:28 UTC
Previous filing: 07 Mar 2025
Next filing: 06 Mar 2026
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	+2,310	+11%	$0.000000	23,564	20 Mar 2025	Direct
transaction	LNW	Common Stock	Tax liability	$100,999	-982	-4.2%	$102.85	22,582	20 Mar 2025	Direct	F1
transaction	LNW	Common Stock	Options Exercise	$0	+4,372	+19%	$0.000000	26,954	20 Mar 2025	Direct
transaction	LNW	Common Stock	Tax liability	$191,095	-1,858	-6.9%	$102.85	25,096	20 Mar 2025	Direct	F1
transaction	LNW	Common Stock	Options Exercise	$0	+2,504	+10%	$0.000000	27,600	20 Mar 2025	Direct
transaction	LNW	Common Stock	Tax liability	$109,432	-1,064	-3.9%	$102.85	26,536	20 Mar 2025	Direct	F1
transaction	LNW	Common Stock	Exercise of in-the-money or at-the-money derivative security	$0	+3,465	+13%	$0.000000	30,001	20 Mar 2025	Direct
transaction	LNW	Common Stock	Tax liability	$154,650	-1,473	-4.9%	$104.99	28,528	20 Mar 2025	Direct	F1
transaction	LNW	Common Stock	Exercise of in-the-money or at-the-money derivative security	$0	+3,163	+11%	$0.000000	31,691	20 Mar 2025	Direct
transaction	LNW	Common Stock	Tax liability	$141,107	-1,344	-4.2%	$104.99	30,347	20 Mar 2025	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	-2,310	-100%	$0.000000	0	20 Mar 2025	Common Stock	2,310		Direct	F2
transaction	LNW	Restricted Stock Units	Options Exercise	$0	-4,372	-50%	$0.000000	4,372	20 Mar 2025	Common Stock	4,372		Direct	F3
transaction	LNW	Restricted Stock Units	Options Exercise	$0	-2,504	-33%	$0.000000	5,010	20 Mar 2025	Common Stock	2,504		Direct	F4
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-3,465	-100%	$0.000000	0	20 Mar 2025	Common Stock	3,465		Direct	F5
transaction	LNW	Restricted Stock Units	Exercise of in-the-money or at-the-money derivative security	$0	-3,163	-100%	$0.000000	0	20 Mar 2025	Common Stock	3,163		Direct	F6

* 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-third of restricted stock units granted on March 20, 2022. The award has fully vested. Each restricted stock unit converted into a share of common stock on a one-for-one basis.
F3	Represents the vesting of one-third of restricted stock units granted on March 24, 2023. The balance of the award is scheduled to vest on March 20, 2026. Each restricted stock unit converts into a share of common stock on a one-for-one basis.
F4	Represents the vesting of one-third of restricted stock units granted on March 20, 2024. The balance of the award is scheduled to vest in two equal installments of 2,505 shares on March 20, 2026 and March 20, 2027. Each restricted stock unit converts into a share of common stock on a one-for-one basis.
F5	Represents the cliff vesting of restricted stock units granted on March 20, 2022, 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 common stock on a one-for-one basis.
F6	Represents the cliff vesting of restricted stock units granted on March 20, 2022, subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 91.3% of the RSUs vested and converted into a share of common stock on a one-for-one basis.