[Form 4] Light & Wonder, Inc. Insider Trading Activity
Rhea-AI Filing Summary
Light & Wonder, Inc. reported insider equity transactions by a major shareholder group and director-affiliated entities. The reporting persons, filing jointly, disclosed several market transactions in Common Stock, $.001 par value dated 12/08/2025 and 12/09/2025, each coded as transaction type "S". One transaction on 12/08/2025 covered 7,500 shares at a weighted average price of $150.8338, with additional transactions on 12/09/2025 involving 2,496, 811, 867, 2,068 and 758 shares at weighted average prices between $151.9219 and $155.5018, all reported as indirect holdings.
Following these transactions, the filing shows 8,244,187 shares of Light & Wonder common stock beneficially owned indirectly. The footnotes explain that the reported prices are weighted averages across multiple trades within specified price ranges and that the reporting persons’ interest is held through private funds, with beneficial ownership disclaimed beyond each party’s pecuniary interest.
Positive
- None.
Negative
- None.
Insights
10% holder sold a small fraction of indirectly held shares; ownership remains very large.
The filing reports that a reporting group related to Fine Capital, a director and more than
The filing shows these holdings are indirect, held through an investment in private funds, and each reporting person disclaims beneficial ownership beyond their pecuniary interest. No derivatives are reported in Table II, so the change is limited to common stock. Relative to the remaining 8.24 million shares, the number sold is very small, so the economic exposure of the reporting persons stays largely intact.
The disclosure also explains that each transaction price is a weighted average across multiple trades within narrow price ranges, and the reporting persons offer to provide detailed breakdowns upon request. This level of detail signals attention to Section 16 compliance rather than a structural change in control. Items to watch are any future Form 4s that show larger reductions in the 8.24 million indirect-share figure or changes in the relationship boxes (director or
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $.001 par value | 2,496 | $151.9219 | $379K |
| Sale | Common Stock, $.001 par value | 811 | $152.5706 | $124K |
| Sale | Common Stock, $.001 par value | 867 | $153.8229 | $133K |
| Sale | Common Stock, $.001 par value | 2,068 | $155.0209 | $321K |
| Sale | Common Stock, $.001 par value | 758 | $155.5018 | $118K |
| Sale | Common Stock, $.001 par value | 7,500 | $150.8338 | $1.13M |
Footnotes (1)
- This reported price is a weighted average price. These shares were bought in multiple transactions within the range of $150.45 to $151.12. 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 bought at each separate price within the range set forth in this footnote. This reported price is a weighted average price. These shares were bought in multiple transactions within the range of $151.31 to $152.31. 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 bought at each separate price within the range set forth in this footnote. This reported price is a weighted average price. These shares were bought in multiple transactions within the range of $152.32 to $153.32. 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 bought at each separate price within the range set forth in this footnote. This reported price is a weighted average price. These shares were bought in multiple transactions within the range of $153.70 to $154.32. 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 bought at each separate price within the range set forth in this footnote. This reported price is a weighted average price. These shares were bought in multiple transactions within the range of $154.39 to $155.33. 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 bought at each separate price within the range set forth in this footnote. This reported price is a weighted average price. These shares were bought in multiple transactions within the range of $155.41 to $155.60. 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 bought 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.
