Light & Wonder (ASX: LNW) CEO logs RSU vesting and tax share disposal

Rhea-AI Filing Summary

Light & Wonder, Inc. President & CEO Matthew R. Wilson reported equity compensation activity tied to restricted stock units. On March 5, 2026, 6,274 restricted stock units were exercised at $0.00 per unit, converting into 6,274 shares of common stock. After this, he held 12,548 restricted stock units and 169,217 shares of common stock directly.

On the same date, 2,469 shares of common stock at $92.62 per share were disposed of to satisfy tax withholding obligations related to the vesting, leaving 166,748 common shares directly owned. Footnotes note the shares are held via CHESS Depositary Interests on the ASX and that the original RSU grant from March 5, 2025 vests in three equal installments through 2028.

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^*

Wilson Matthew R.

(Last) (First) (Middle)

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. [ ASX:LNW ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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(1)	03/05/2026		M		6,274	A	$0	169,217	D
Common Stock(1)	03/05/2026		F		2,469	D	$92.62(2)	166,748	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	(3)	03/05/2026		M			6,274	(3)	(3)	Common Stock	6,274	$0	12,548	D

Explanation of Responses:

1. Shares are held via CHESS Depositary Interests ("CDIs"), which 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.

2. Represents the satisfaction of tax withholding obligations upon the vesting of restricted stock units. Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.7075 USD.

3. Represents the vesting of one-third of restricted stock units granted on March 5, 2025. The balance of the award is scheduled to vest in two equal installments of 6,274 shares on March 5, 2027 and March 5, 2028. Each restricted stock unit converts into a share of common stock on a one-for-one basis.

	/s/ Matthew R. Wilson	03/06/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did Light & Wonder (LNW) CEO Matthew R. Wilson report?

Matthew R. Wilson reported vesting of 6,274 restricted stock units that converted into the same number of common shares at $0.00 per share. He also disposed of 2,469 common shares at $92.62 per share to cover tax withholding obligations related to the vesting event.

How many Light & Wonder (LNW) shares does the CEO hold after this Form 4?

After these transactions, Matthew R. Wilson directly held 166,748 shares of Light & Wonder common stock and 12,548 restricted stock units. These positions reflect the RSU vesting on March 5, 2026 and the related share disposition for tax withholding obligations tied to that vesting.

Were Matthew R. Wilson’s Light & Wonder (LNW) transactions open-market buys or sales?

The filing shows no open-market buys or sales. Shares were acquired through the exercise and vesting of 6,274 restricted stock units at $0.00, while 2,469 shares were disposed of specifically to satisfy tax withholding obligations associated with that restricted stock unit vesting event.

What is the vesting schedule of Matthew R. Wilson’s Light & Wonder (LNW) restricted stock units?

The restricted stock units reported relate to an award granted on March 5, 2025. One-third, or 6,274 units, vested on March 5, 2026. The remaining two installments of 6,274 units each are scheduled to vest on March 5, 2027 and March 5, 2028, respectively.

How are Light & Wonder (LNW) shares held by the CEO on the ASX?

The shares are held via CHESS Depositary Interests (CDIs) traded on the Australian Securities Exchange. Each CDI represents one fully paid share of Light & Wonder common stock, with the CDIs held by CHESS Depositary Nominees Pty. Limited, a subsidiary of ASX Limited.

How was the $92.62 price for Light & Wonder (LNW) shares in the tax disposition determined?

The $92.62 per share price reflects a conversion from Australian Dollars into U.S. Dollars. The conversion used an exchange rate of $1 AUD to $0.7075 USD, as disclosed, for purposes of valuing shares disposed to satisfy tax withholding obligations on the restricted stock unit vesting.