LNW director Jamie Odell reports RSU settlements on 10/01/2025

Rhea-AI Filing Summary

Light & Wonder, Inc. (LNW) director Jamie Odell reported the vesting and settlement of restricted stock units into common stock on 10/01/2025. Two tranches vested for 2,138 shares and 3,333 shares at a stated price of $0 per share (transaction code M), consistent with one-for-one RSU conversion.

Following these transactions, Odell directly owns 20,941 shares. Indirect holdings include 36 shares by child, 8,275 shares by the Odell Family Trust, and 10,000 shares by the Jamie and Caroline Odell Superannuation Fund. The remaining portion of the December 11, 2023 RSU grant is scheduled to vest on October 1, 2026.

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

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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^*

Odell Jamie

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		2,138	A	$0	17,608	D
Common Stock	10/01/2025		M		3,333	A	$0	20,941	D
Common Stock								36	I	By Child(1)
Common Stock								8,275	I	By trust(2)
Common Stock								10,000	I	Superannuation Fund(3)

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	(4)	10/01/2025		M			2,138	(4)	(4)	Common Stock	2,138	$0	2,138	D
Restricted Stock Units	(5)	10/01/2025		M			3,333	(5)	(5)	Common Stock	3,333	$0	3,334	D

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of the shares held by his child, which underly CHESS Depositary Interests ("CDIs"). CDIs 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. This report should not be deemed an admission that the reporting person is the beneficial owner of his child's shares for purposes of Section 16 or for any other purpose.

2. Represents shares of common stock held by New Dusk Pty Ltd (Odell Family Trust), of which Mr. Odell serves as a director and a shareholder and is a beneficiary of the trust.

3. Represents shares of common stock held by the Jamie and Caroline Odell Superannuation Fund, a fund of which Mr. Odell is the beneficiary.

4. Represents vesting of one-third of the restricted stock units granted on December 11, 2023. The balance of the award is scheduled to vest on October 1, 2026. Each unit converts into a share of common stock on a one-for-one basis.

5. Represents vesting of one-third of the restricted stock units granted on December 11, 2023. The balance of the award is scheduled to vest on October 1, 2026. Each unit converts into a share of common stock on a one-for-one basis.

	/s/ James Sottile, attorney-in-fact for Jamie Odell	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).
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FAQ

What did Light & Wonder (LNW) disclose in this Form 4?

Director Jamie Odell reported RSU vesting into common stock on 10/01/2025, with transactions coded M and priced at $0 per share.

How many RSUs vested for LNW director Jamie Odell?

Two tranches vested: 2,138 shares and 3,333 shares, each converting one-for-one into common stock.

What is Jamie Odell’s direct ownership after the transactions?

He directly owns 20,941 shares following the reported transactions.

What indirect holdings are reported for Jamie Odell?

Indirect holdings include 36 shares by child, 8,275 via the Odell Family Trust, and 10,000 via the Jamie and Caroline Odell Superannuation Fund.

When will the remaining RSUs vest for Jamie Odell?

The balance of the December 11, 2023 RSU award is scheduled to vest on October 1, 2026.

What are CHESS Depositary Interests (CDIs) mentioned in the filing?

CDIs are units of beneficial ownership in LNW common stock traded on the ASX; each CDI represents one share.