Light & Wonder (ASX: LNW) SVP exercises RSUs and withholds shares for tax

Rhea-AI Filing Summary

Light & Wonder, Inc. executive Kalabic Vanja, SVP & Chief Accounting Officer, reported the vesting and exercise of restricted stock units that converted into 1,863 shares of common stock on March 20, 2026. These shares are held via CHESS Depositary Interests traded on the Australian Securities Exchange.

To cover tax obligations on the vesting, 671 shares were withheld at a reference price of $78.61 per share, leaving a net increase in directly held stock. Following these routine compensation-related transactions, Vanja directly owns 8,233 shares/CDIs of Light & Wonder common stock.

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^*

Kalabic Vanja

(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 & Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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
Common Stock(1)	03/20/2026		X		1,195	A	$0	8,236	D
Common Stock(1)	03/20/2026		F		431	D	$78.61(2)	7,805	D
Common Stock(1)	03/20/2026		M		668	A	$0	8,473	D
Common Stock(1)	03/20/2026		F		240	D	$78.61(2)	8,233	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)	03/20/2026		X			1,195	(3)	(3)	Common Stock	1,195	$0	0	D
Restricted Stock Units	(4)	03/20/2026		M			668	(4)	(4)	Common Stock	668	$0	668	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 $0.7023 USD.

3. Represents the vesting of one-third of restricted stock units granted on August 25, 2023. The award has fully vested. Each restricted stock unit converts into a share of common stock on a one-for-one basis.

4. Represents the vesting of one-third of restricted stock units granted on March 20, 2024. The balance of the award is scheduled to vest on March 20, 2027. Each restricted stock unit converts into a share of common stock on a one-for-one basis.

	/s/ Sweta Gabhawala, attorney-in-fact for Vanja Kalabic	03/24/2026
	** 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 insider transactions did Kalabic Vanja report for LNW on March 20, 2026?

Kalabic Vanja reported RSU vesting that converted into 1,863 Light & Wonder common shares on March 20, 2026. These compensation-related exercises increased direct holdings, with some shares withheld to satisfy tax obligations rather than sold in the open market.

Were any Light & Wonder (LNW) shares sold on the market in this Form 4?

No open-market sales occurred in this Form 4. Shares labeled as dispositions were 671 shares withheld by the company to satisfy tax obligations on RSU vesting, not discretionary market sales, so they do not signal a change in trading sentiment.

How many Light & Wonder (LNW) shares does Kalabic Vanja hold after these transactions?

After the March 20, 2026 RSU vesting and related tax withholding, Kalabic Vanja directly holds 8,233 shares of Light & Wonder common stock. These are represented by CHESS Depositary Interests, which trade on the Australian Securities Exchange on a one-for-one basis.

What was the tax withholding price for the LNW RSU vesting reported by Kalabic Vanja?

The company withheld 671 shares to cover tax obligations at a price of $78.61 per share. That U.S. dollar figure was converted from Australian dollars using an exchange rate of $1 AUD to $0.7023 USD, as disclosed in the filing footnotes.

What RSU grants vested for Kalabic Vanja in this Light & Wonder Form 4?

One-third of RSUs granted on August 25, 2023 vested, fully completing that award, and one-third of RSUs granted on March 20, 2024 also vested. Each vested restricted stock unit converted into one share of Light & Wonder common stock on a one-for-one basis.

How are Kalabic Vanja’s Light & Wonder holdings structured on the ASX?

Vanja’s position is held through CHESS Depositary Interests, or CDIs, which trade on the Australian Securities Exchange. Each CDI represents one fully paid Light & Wonder common share, held by CHESS Depositary Nominees as the registered holder on behalf of beneficial owners.