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Fine Capital (LAWIL) trims Light & Wonder stake with 5,694-share sale

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Entities associated with Fine Capital reported selling 5,694 shares of Light & Wonder, Inc. common stock on January 22, 2026. The sale was executed at a weighted average price of $116.2875 per share, with individual trade prices ranging from $116.2783 to $116.4219. After this transaction, the reporting parties had an indirect pecuniary interest in 8,160,992 shares, held through investments in private funds. The reporting persons state that they disclaim beneficial ownership of these securities except to the extent of their pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider Fine Capital Partners, L.P., Fine Capital Advisors, LLC, Fine Debra
Role 10% Owner | 10% Owner | 10% Owner
Sold 5,694 shs ($662K)
Type Security Shares Price Value
Sale Common Stock, $.001 par value 5,694 $116.2875 $662K
Holdings After Transaction: Common Stock, $.001 par value — 8,160,992 shares (Indirect, See footnote)
Footnotes (1)
  1. This reported price is a weighted average price. These shares were sold in multiple transactions within the range of $116.2783 to $116.4219. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The amount reported represents the Reporting Persons' pecuniary interest held through an investment in private funds. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Form 4 Insider Transactions: What Each Field Means →
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
Estimated average burden
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*
Fine Capital Partners, L.P.
(Last) (First) (Middle)
3 COLUMBUS CIRCLE
15TH FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Light & Wonder, Inc. [ LNWO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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, $.001 par value 01/22/2026 S 5,694 D $116.2875(1) 8,160,992 I See footnote(2)
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
1. Name and Address of Reporting Person*
Fine Capital Partners, L.P.
(Last) (First) (Middle)
3 COLUMBUS CIRCLE
15TH FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Fine Capital Advisors, LLC
(Last) (First) (Middle)
3 COLUMBUS CIRCLE
15TH FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Fine Debra
(Last) (First) (Middle)
3 COLUMBUS CIRCLE
15TH FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. This reported price is a weighted average price. These shares were sold in multiple transactions within the range of $116.2783 to $116.4219. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
2. The amount reported represents the Reporting Persons' pecuniary interest held through an investment in private funds. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
FINE CAPITAL PARTNERS, L.P., By: Fine Capital Advisors, LLC, its general partner, By: /s/ Debra Fine, Debra Fine 01/26/2026
FINE CAPITAL ADVISORS, LLC, By: /s/ Debra Fine, Debra Fine, Manager 01/26/2026
DEBRA FINE /s/ Debra Fine 01/26/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What type of transaction was reported in this Form 4 for LAWIL?

The filing reports an open market sale (code S) of Light & Wonder, Inc. common stock by entities associated with Fine Capital.

How many Light & Wonder (LAWIL) shares were sold in the reported transaction?

The reporting entities sold 5,694 shares of Light & Wonder, Inc. common stock in the transaction dated January 22, 2026.

At what price were the Light & Wonder shares sold in this Form 4?

The shares were sold at a weighted average price of $116.2875 per share, with individual trades executed between $116.2783 and $116.4219.

How many Light & Wonder shares do the reporting persons hold after the sale?

Following the sale, the reporting persons had an indirect pecuniary interest in 8,160,992 shares of Light & Wonder, Inc. common stock through private funds.

Do the reporting persons claim full beneficial ownership of the reported Light & Wonder shares?

No. The filing states that each reporting person disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interest.