Light & Wonder (LNW) director’s super fund buys 1,380 CDIs at $87.61

Rhea-AI Filing Summary

Light & Wonder, Inc. director Hamish McLennan reported an indirect open‑market purchase of 1,380 CHESS Depositary Interests (CDIs) of common stock at $87.61 per CDI on August 12, 2025. The trade was made through Linyanti Holdings Pty Limited ATF McLennan Superannuation Fund, a retirement fund of which he is the beneficiary.

After this transaction, the superannuation fund held 6,380 common shares indirectly, while McLennan also reported 31,782 shares held directly and 9,750 shares held indirectly through the Londolozi Family Trust.

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

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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^*

McLennan Hamish

(Last) (First) (Middle)

C/O 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. [ LNW ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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								31,782	D
Common Stock	08/12/2025		P		1,380(1)	A	$87.61(2)	6,380	I	Superannuation Fund(3)
Common Stock								9,750	I	Londolozi Family Trust(4)

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

Explanation of Responses:

1. Reflects an open market purchase of 1,380 of the Issuer's CHESS Depositary Interests ("CDIs") on August 13, 2025 (Australia)/August 12, 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.

2. Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.6548 USD.

3. Represents shares of common stock held by Linyanti Holdings Pty Limited ATF McLennan Superannuation Fund, a retirement fund of which Mr. McLennan is the beneficiary.

4. Represents shares of common stock held by Londolozi Pty Limited ATF Londolozi Family Trust, of which Mr. McLennan serves as trustee.

	/s/ James Sottile, attorney-in-fact for Hamish McLennan	08/13/2025
	** 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.
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FAQ

What insider transaction did LNW director Hamish McLennan report?

Hamish McLennan reported an indirect open‑market purchase of 1,380 CHESS Depositary Interests of Light & Wonder common stock at $87.61 each. The CDIs represent fully paid shares and were acquired on August 12, 2025, through a related superannuation fund.

Through which entity were the Light & Wonder (LNW) shares purchased?

The 1,380 CDIs were purchased through Linyanti Holdings Pty Limited ATF McLennan Superannuation Fund. This retirement fund holds shares of Light & Wonder common stock, and Hamish McLennan is the fund’s beneficiary, making the ownership indirect for reporting purposes.

What is the total indirect superannuation holding reported by Hamish McLennan in LNW?

Following the reported transaction, the McLennan Superannuation Fund held 6,380 shares of Light & Wonder common stock indirectly. These shares are reported as held by Linyanti Holdings Pty Limited ATF McLennan Superannuation Fund, reflecting McLennan’s beneficial interest through the retirement fund.

How many Light & Wonder (LNW) shares does Hamish McLennan hold directly and through trusts?

Hamish McLennan reported direct ownership of 31,782 shares of Light & Wonder common stock. He also reported 9,750 additional shares held indirectly through Londolozi Pty Limited ATF Londolozi Family Trust, where he serves as trustee, separate from his superannuation fund holdings.

What are CHESS Depositary Interests (CDIs) in relation to Light & Wonder (LNW)?

CHESS Depositary Interests are units of beneficial ownership in Light & Wonder common stock traded on the Australian Securities Exchange. Each CDI represents one fully paid common share, held by CHESS Depositary Nominees Pty Limited, allowing trading on the ASX instead of directly on a U.S. exchange.

How was the purchase price for the LNW CDIs converted in this Form 4?

The Form 4 states that the CDI purchase price was converted from Australian dollars into U.S. dollars. An exchange rate of $1 AUD to $0.6548 USD was used, resulting in a reported per‑CDI price of $87.61 in U.S. dollar terms.