LNW executive RSUs fully vested with tax withholding at $84.55

Rhea-AI Filing Summary

Light & Wonder, Inc. reported an executive equity event. On 10/01/2025, an officer (Exec VP, CLO & Corp Sec) had 3,334 restricted stock units vest, converting one-for-one into common stock. To cover taxes upon vesting, 1,602 shares were disposed of at $84.55 under a tax withholding transaction. Following these transactions, the officer directly beneficially owned 88,872 shares of common stock.

The filing shows a routine conversion (code M) of RSUs granted on October 5, 2022, which the disclosure states have now fully vested, and a related tax-withholding disposition (code F). No issuer proceeds are involved in these administrative transactions.

Insights

Equity compensation analyst

Routine RSU vesting with tax withholding; neutral impact.

The officer’s 3,334 RSUs vested on 10/01/2025 and converted into an equal number of common shares (code M). This stems from an award granted on October 5, 2022, which the disclosure notes has fully vested. Such conversions are non-cash and typical for executive compensation.

To satisfy withholding taxes at vest, 1,602 shares were disposed at $84.55 (code F). After these events, directly owned shares total 88,872. These actions do not provide cash to the issuer and generally do not alter the company’s fundamentals.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sottile James

(Last) (First) (Middle)

C/O LIGHT & WONDER, INC.

6601 BERMUDA ROAD

(Street)

LAS VEGAS NV 89119

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Light & Wonder, Inc. [ LNW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec VP, CLO & Corp Sec

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/01/2025		M		3,334	A	$0	90,474	D
Common Stock	10/01/2025		F		1,602	D	$84.55(1)	88,872	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	10/01/2025		M			3,334	(2)	(2)	Common Stock	3,334	$0	0	D

Explanation of Responses:

1. Represents the satisfaction of tax withholding obligations upon the vesting of restricted stock units.

2. Represents the vesting of one-third of restricted stock units granted on October 5, 2022. The award has fully vested. Each restricted stock unit converted into a share of common stock on a one-for-one basis.

	/s/ James Sottile	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Light & Wonder (LAWIL) report on Form 4?

An executive had 3,334 RSUs vest on 10/01/2025, converting into common stock, with 1,602 shares disposed to cover taxes.

How many shares does the reporting person own after the transactions for LAWIL?

The reporting person directly beneficially owns 88,872 shares of common stock after the reported transactions.

What were the Form 4 transaction codes for LAWIL?

Code M for RSU conversion into common shares and code F for shares withheld/disposed to satisfy tax obligations.

At what price were shares disposed to cover taxes for LAWIL?

Shares were disposed at $84.55 to satisfy tax withholding upon vesting.

When were the vested RSUs originally granted for LAWIL?

The RSUs were granted on October 5, 2022, and the award has fully vested per the disclosure.

Does the issuer receive proceeds from these LAWIL transactions?

No. RSU conversion and related tax withholding are administrative and do not provide proceeds to the issuer.

Who is the reporting person’s role at Light & Wonder (LAWIL)?

The reporting person is an Officer: Exec VP, CLO & Corporate Secretary.