Light & Wonder (LNWO) director to sell more stock after cashless exercise

Rhea-AI Filing Summary

Light & Wonder, Inc. (LNWO) director Antonia Korsanos filed a notice of proposed sale under Rule 144 for up to 40,000 common securities/CDIs of Light & Wonder, to be sold on the ASX. The securities relate to an options exercise of 94,666 options on 08/17/2026 structured as a cashless exercise, in which 55,334 CDIs were withheld. The filing notes that Ms. Korsanos must recognize assessable income from the vested options, and that a portion of the net CDIs received, not exceeding the related tax liability, will be sold to fund that liability pursuant to the issuer’s Securities Trading Policy. During the past three months, she previously sold 30,000 common securities for $2,702,400.00 on 06/16/2026.

Key Figures

Planned securities to be sold: 40,000 shares Aggregate market value of planned sale: $3,919,200.00 Shares outstanding: 78,661,761 shares +5 more

8 metrics

Planned securities to be sold 40,000 shares Common securities/CDIs covered by the Rule 144 notice

Aggregate market value of planned sale $3,919,200.00 Associated with the 40,000 common securities/CDIs

Shares outstanding 78,661,761 shares Common securities outstanding referenced alongside the Rule 144 data

Options exercised 94,666 options Options exercise on 08/17/2026 underlying the CDIs

CDIs withheld in cashless exercise 55,334 CDIs Withheld as part of the cashless options exercise

Prior 3‑month sale volume 30,000 shares Common securities sold on 06/16/2026

Value of prior 3‑month sale $2,702,400.00 Aggregate value of 30,000 shares sold on 06/16/2026

Date of notice 08/18/2026 Date on which the Rule 144 notice was signed

Key Terms

Rule 144, cashless exercise, assessable income, Securities Trading Policy

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

cashless exercise financial

"A cashless exercise of options whereby 55,334 CDIs were withheld."

A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.

assessable income financial

"Ms. Korsanos is required to recognize assessable income as a result of the exercise."

Securities Trading Policy regulatory

"will be sold in accordance with the terms of the issuer's Securities Trading Policy."

FAQ

What does the Form 144 filing disclose for Light & Wonder (LNWO)?

The filing reports that director Antonia Korsanos intends to sell up to 40,000 Light & Wonder common securities/CDIs under Rule 144 on the ASX, following an options exercise that generated assessable income and related tax obligations.

How many Light & Wonder (LNWO) shares are covered by the planned Rule 144 sale?

The notice covers a proposed sale of up to 40,000 common securities/CDIs of Light & Wonder. The aggregate market value associated with this amount is listed as $3,919,200.00, reflecting the approximate value of the securities referenced in the filing.

What options exercise by Antonia Korsanos is described for Light & Wonder (LNWO)?

The filing states that on 08/17/2026, 94,666 options were exercised in a cashless exercise. As part of this transaction, 55,334 CDIs were withheld, and Ms. Korsanos is required to recognize assessable income arising from the exercise of these vested options.

How will taxes be funded from the Light & Wonder (LNWO) share transactions?

According to the filing, to fund the income tax liability from the options exercise, a portion of the net CDIs received by Ms. Korsanos, not exceeding the value of the tax liability, will be sold under the issuer’s Securities Trading Policy.

What prior share sale did Antonia Korsanos report for Light & Wonder (LNWO)?

The document notes that during the past three months, Ms. Korsanos sold 30,000 Light & Wonder common securities on 06/16/2026 for an aggregate value of $2,702,400.00, which is reported in the section covering securities sold during that period.

On which market are the Light & Wonder (LNWO) securities planned to be sold?

The securities referenced in the notice are common securities/CDIs of Light & Wonder to be sold on the ASX. The filing associates the 40,000 securities with trading on this market as part of the planned Rule 144 sale activity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/18/2026 - 09:08 PM Accepted by SEC EDGAR 08/18/2026 - 09:07 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001825242
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Light & Wonder, Inc.
SEC File Number	001-11693
Address of Issuer	6601 Bermuda Road Las Vegas NEVADA 89119
Phone	702-897-7150
Name of Person for Whose Account the Securities are To Be Sold	Antonia Korsanos
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Jarden Australia Pty Ltd. Level 54, Governor Phillip Tower 1 Farrer Place Sydney C3 NSW 2000	40000	3919200.00	78661761	08/18/2026	ASX

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/17/2026	Options Exercise	Issuer			94666	08/17/2026	Compensation. A cashless exercise of options whereby 55,334 CDIs were withheld.

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Antonia Korsanos c/o Light & Wonder Inc. 6601 Bermuda Rd Las Vegas NV 89119	Common	06/16/2026	30000	2702400.00

144: Remarks and Signature

Remarks	Ms. Korsanos is required to recognize assessable income as a result of the exercise of the vested options. To fund the income tax liability, a portion of the net CDIs received by Ms. Korsanos (not exceeding the value of the tax liability) will be sold in accordance with the terms of the issuer's Securities Trading Policy.
Date of Notice	08/18/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Antonia Korsanos
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)