Light & Wonder (LNW) SVP awarded 12,073 performance-based RSUs

Rhea-AI Filing Summary

Light & Wonder, Inc. reported that SVP & CEO - Gaming Siobhan Lane received a grant of 12,073 restricted stock units. These RSUs cliff vest on March 4, 2029 only if a performance goal is achieved; otherwise they are forfeited. Each unit will convert into one share of common stock upon vesting, and Lane now holds 12,073 such units directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Lane Siobhan

Role SVP & CEO - Gaming

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	12,073	$0.00	--

Holdings After Transaction: Restricted Stock Units — 12,073 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs granted: 12,073 units Vesting date: March 4, 2029 Post-grant RSU holdings: 12,073 units +1 more

4 metrics

RSUs granted 12,073 units Restricted stock units granted to SVP & CEO - Gaming

Vesting date March 4, 2029 Cliff vesting date contingent on performance goal

Post-grant RSU holdings 12,073 units Total restricted stock units held after transaction

Conversion ratio 1:1 Each RSU converts into one share of common stock upon vesting

Key Terms

Restricted Stock Units, cliff vest, performance goal, one-for-one basis

4 terms

Restricted Stock Units financial

"The restricted stock units are scheduled to cliff vest on March 4, 2029"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

cliff vest financial

"The restricted stock units are scheduled to cliff vest on March 4, 2029"

A cliff vest is a schedule for stock options or restricted shares where no ownership rights are earned until a fixed date, after which a set portion becomes fully owned all at once — like a probation period that suddenly unlocks pay. Investors watch cliff vests because they influence when insiders can sell shares, affect staff retention and dilution timing, and help predict short-term changes in a company’s shareholder makeup.

performance goal financial

"contingent upon the achievement of a performance goal"

one-for-one basis financial

"Each unit converts into a share of common stock on a one-for-one basis"

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^*

Lane Siobhan

(Last) (First) (Middle)

C/O LIGHT & WONDER, INC.

6601 BERMUDA ROAD

(Street)

LAS VEGAS NEVADA 89119

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & CEO - Gaming

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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

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

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

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

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	(1)	05/22/2026		A		12,073		(1)	(1)	Common Stock	12,073	$0	12,073	D

Explanation of Responses:

1. 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 March 4, 2029, all restricted stock units are forfeited. Each unit converts into a share of common stock on a one-for-one basis.

	/s/ Sweta Gabhawala, attorney-in-fact for Siobhan Lane	05/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Light & Wonder (LNW) executive Siobhan Lane receive in this Form 4?

Siobhan Lane received a grant of 12,073 restricted stock units as compensation. These RSUs relate to Light & Wonder common stock and are recorded as a derivative position, not an open-market stock purchase or sale.

When do Siobhan Lane’s 12,073 RSUs at Light & Wonder (LNW) vest?

The 12,073 restricted stock units are scheduled to cliff vest on March 4, 2029. Vesting occurs only if a specified performance goal is achieved by that date, making this a long-term, performance-based award.

What happens if the performance goal for LNW executive RSUs is not met?

If the performance goal tied to the 12,073 restricted stock units is not achieved by March 4, 2029, all of the RSUs are forfeited. This means the executive would receive no common shares from this particular award.

How do Siobhan Lane’s RSUs convert into Light & Wonder (LNW) common stock?

Each restricted stock unit converts into one share of Light & Wonder common stock on a one-for-one basis. Conversion occurs only upon vesting, which itself depends on meeting the specified performance condition by March 4, 2029.

Did Siobhan Lane buy or sell Light & Wonder (LNW) shares in this Form 4?

No open-market buy or sell occurred; this Form 4 reports a grant of 12,073 restricted stock units. It is a compensation-related acquisition with no transaction price and no immediate cash paid or received.

How many RSUs does Siobhan Lane hold after this reported Light & Wonder (LNW) grant?

Following this grant, Siobhan Lane holds 12,073 restricted stock units directly. All of these units are subject to a performance condition and cliff vesting on March 4, 2029 before any conversion into common shares.