Oliver Chow - 04 Mar 2026 Form 4 Insider Report for Light & Wonder, Inc. (LAWIL)

Role: EVP, CFO & Treas
Signature: /s/ Sweta Gabhawala, attorney-in-fact for Oliver Chow
Issuer symbol: LAWIL
Transactions as of: 04 Mar 2026
Net transactions value: -$464,092
Form type: 4
Filing time: 06 Mar 2026, 21:24:03 UTC
Previous filing: 18 Nov 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Chow Oliver	EVP, CFO & Treas	LIGHT & WONDER, INC., 6601 BERMUDA ROAD, LAS VEGAS	/s/ Sweta Gabhawala, attorney-in-fact for Oliver Chow	06 Mar 2026	0001991805

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LAWIL	Common Stock	Options Exercise		+5,144	+74%	$0.000000^*	12,126	04 Mar 2026	Direct	F1
transaction	LAWIL	Common Stock	Tax liability		-2,025	-17%	$91.05^*	10,101	04 Mar 2026	Direct	F1, F2
transaction	LAWIL	Common Stock	Options Exercise		+1,961	+19%	$0.000000^*	12,062	05 Mar 2026	Direct	F1
transaction	LAWIL	Common Stock	Tax liability		-772	-6.4%	$92.62^*	11,290	05 Mar 2026	Direct	F1, F3
transaction	LAWIL	Common Stock	Sale	$464,092	-5,144	-46%	$90.22	6,146	05 Mar 2026	Direct	F1, F4, F5

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	LAWIL	Restricted Stock Units	Award		+5,144		$0.000000^*	5,144	04 Mar 2026	Common Stock	5,144		Direct	F6
transaction	LAWIL	Restricted Stock Units	Options Exercise		-5,144	-100%	$0.000000^*	0	04 Mar 2026	Common Stock	5,144		Direct	F6
transaction	LAWIL	Restricted Stock Units	Award		+7,147		$0.000000^*	7,147	04 Mar 2026	Common Stock	7,147		Direct	F7
transaction	LAWIL	Restricted Stock Units	Award		+3,573		$0.000000^*	3,573	04 Mar 2026	Common Stock	3,573		Direct	F8
transaction	LAWIL	Restricted Stock Units	Award		+3,573		$0.000000^*	3,573	04 Mar 2026	Common Stock	3,573		Direct	F9
transaction	LAWIL	Restricted Stock Units	Options Exercise		-1,961	-33%	$0.000000^*	3,924	05 Mar 2026	Common Stock	1,961		Direct	F10

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

Explanation of Responses:

Id	Content
F1	Shares are held in CHESS Depositary Interests ("CDIs"), which are units of beneficial ownership in shares of common stock of the Company that are publicly traded on the Australian Securities Exchange (the "ASX") and held by CHESS Depositary Nominees Pty. Limited, a subsidiary of ASX Limited, the company that operates the ASX. Each CDI represents one fully paid share of common stock.
F2	Represents the satisfaction of tax withholding obligations upon the vesting of restricted stock units. Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.7093 USD.
F3	Represents the satisfaction of tax withholding obligations upon the vesting of restricted stock units. Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.7075 USD.
F4	The transaction was executed in multiple trades at prices ranging from $89.31 to $89.38. The price reported above reflects the weighted average sale price. Details regarding aggregated sale transactions will be provided upon request by the Commission staff, the issuer or a security holder of the issuer.
F5	Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.7075 USD.
F6	Represents restricted stock units granted pursuant to a determination by the Compensation Committee of the Board of Directors of the issuer as payment in respect of the annual bonus earned by the reporting person with respect to 2025. The number of units was determined by dividing the dollar value of the bonus earned, based on actual performance for 2025, by the average of the high and low prices of the CDIs on the day preceding the grant date. Since the restricted stock units are payment in respect of the 2025 bonus, they are subject to immediate vesting. Each unit converts into a share of common stock on a one-for-one basis.
F7	The restricted stock units are scheduled to vest in three equal installments on March 4, 2027, 2028 and 2029.
F8	The restricted stock units are scheduled to cliff vest on March 4, 2029, contingent upon the achievement of a performance goal. If the performance goal is not met by December 31, 2028, all restricted stock units are forfeited. 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 4, 2029, contingent upon the achievement of a performance goal. If the performance goal is not met by December 31, 2028, all restricted stock units are forfeited. Each unit converts into a share of common stock on a one-for-one basis.
F10	Represents the vesting of one-third of restricted stock units granted on March 5, 2025. The balance of the award is scheduled to vest in two equal installments of 1,962 shares on March 5, 2027 and March 5, 2028. Each restricted stock unit converts into a share of common stock on a one-for-one basis.