Light & Wonder Form 4: Director Increases Stake with Open-Market Purchases
Rhea-AI Filing Summary
Insider purchases by a director increased his stake in Light & Wonder, Inc. On 08/14/2025 Timothy Throsby, a company director, acquired shares in multiple open-market trades. He purchased 10,000 shares of Light & Wonder common stock at a weighted average price of $88.61, then acquired 2,201 CDIs at a weighted average U.S. dollar-equivalent price of $89.70 and 7,799 CDIs at a weighted average U.S. dollar-equivalent price of $90.24. Each CDI represents one share of common stock. The reported post-transaction beneficial ownership balances are 32,082; 34,283; and 42,082 shares respectively. Trades were executed in multiple transactions and the Form 4 was signed by attorney-in-fact James Sottile on 08/15/2025.
Positive
- Director purchase activity: Timothy Throsby increased his beneficial ownership through open-market purchases.
- Transparent execution detail: The filing discloses weighted average prices and notes that transactions were executed in multiple trades.
- CDI clarification: The filing explicitly states each CHESS Depositary Interest represents one share of common stock.
Negative
- None.
Insights
TL;DR: A director increased personal holdings through open-market purchases, a routine but positive governance signal.
The Form 4 shows Timothy Throsby, a director, made multiple open-market purchases on 08/14/2025 and increased his beneficial ownership to the levels reported. These purchases were executed in multiple trades and aggregated with weighted average prices reported. From a governance standpoint, director purchases can signal confidence in the company; however, the filing does not disclose the director's prior total ownership percentage or any strategic context, limiting assessment of materiality.
TL;DR: Insider buys of 20,000+ shares reported; transaction sizes and prices are explicit, but no financial impact metrics provided.
The filing details acquisitions totaling 20,000 CDIs/common shares across three reported entries at weighted average prices between $88.43 and $90.80 (converted where applicable). The report specifies CDIs equal one share each and discloses execution across multiple trades. Without company market capitalization or prior holdings percentage in the filing, the trades are informative for sentiment but not sufficient to gauge material impact on valuation.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 10,000 | $88.61 | $886K |
| Purchase | Common Stock | 2,201 | $89.70 | $197K |
| Purchase | Common Stock | 7,799 | $90.24 | $704K |
Footnotes (1)
- The transaction was executed in multiple trades at prices ranging from $88.43 to $88.69. The price reported above reflects the weighted average purchase price. Details regarding aggregated purchase transactions will be provided upon request by the Commission staff, the issuer or a security holder of the issuer. Reflects an open market purchase of 2,201 of the Issuer's CHESS Depositary Interests ("CDIs") on August 15, 2025 (Australia)/August 14, 2025 (U.S.). 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. The transaction was executed in multiple trades at prices ranging from $89.05 to $89.99. The price reported above reflects the weighted average purchase price. Details regarding aggregated purchase transactions will be provided upon request by the Commission staff, the issuer or a security holder of the issuer. Reflects an open market purchase of 7,799 of the Issuer's CDIs on August 15, 2025 (Australia)/August 14, 2025 (U.S.). The transaction was executed in multiple trades at prices ranging from $90.00 to $90.80. The price reported above reflects the weighted average purchase price. Details regarding aggregated purchase transactions will be provided upon request by the Commission staff, the issuer or a security holder of the issuer. Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.6515 USD.
