Light & Wonder (ASX:LNW) SVP gets 19,991 RSU shares, 8,316 withheld for tax

Rhea-AI Filing Summary

Light & Wonder, Inc. senior executive Siobhan Lane reported compensation-related equity activity. On March 20, 2026, a total of 19,991 restricted stock units vested and converted into the same number of common shares, reflecting time-based and performance-based RSU awards.

To satisfy tax obligations on these vestings, 8,316 common shares were withheld at a price of $78.61 per share, which is recorded as a disposal but is not an open-market sale. After these transactions, Lane directly holds 16,933 shares of common stock, with no remaining RSUs from the reported grants.

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^*

Lane Siobhan

(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 & CEO - Gaming

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		M		4,372	A	$0	9,630	D
Common Stock(1)	03/20/2026		F		1,819	D	$78.61(2)	7,811	D
Common Stock(1)	03/20/2026		M		2,505	A	$0	10,316	D
Common Stock(1)	03/20/2026		F		1,042	D	$78.61(2)	9,274	D
Common Stock(1)	03/20/2026		M		6,557	A	$0	15,831	D
Common Stock(1)	03/20/2026		F		2,727	D	$78.61(2)	13,104	D
Common Stock(1)	03/20/2026		M		6,557	A	$0	19,661	D
Common Stock(1)	03/20/2026		F		2,728	D	$78.61(2)	16,933	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		M			4,372	(3)	(3)	Common Stock	4,372	$0	0	D
Restricted Stock Units	(4)	03/20/2026		M			2,505	(4)	(4)	Common Stock	2,505	$0	2,505	D
Restricted Stock Units	(5)	03/20/2026		M			6,557	(5)	(5)	Common Stock	6,557	$0	0	D
Restricted Stock Units	(6)	03/20/2026		M			6,557	(6)	(6)	Common Stock	6,557	$0	0	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 March 24, 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.

5. Represents the cliff vesting of restricted stock units granted on March 24, 2023, subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 100% of the RSUs vested and converted into shares of common stock on a one-for-one basis.

6. Represents the cliff vesting of restricted stock units granted on March 24, 2023, subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 100% of the RSUs vested and converted into shares of common stock on a one-for-one basis.

	/s/ Sweta Gabhawala, attorney-in-fact for Siobhan Lane	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 LNW executive Siobhan Lane report?

Siobhan Lane reported RSU vesting and related tax withholding, not open-market trading. 19,991 restricted stock units converted into common shares, and 8,316 shares were withheld to cover taxes at $78.61 per share.

Did the LNW Form 4 show Siobhan Lane buying or selling shares on the market?

The Form 4 for LNW shows no open-market purchases or sales. Activity reflects RSU vesting and F-code tax-withholding dispositions, where 8,316 shares were withheld to pay taxes on 19,991 vested units.

How many Light & Wonder (LNW) shares does Siobhan Lane hold after these transactions?

Following the RSU vesting and tax withholding, Siobhan Lane directly holds 16,933 shares of Light & Wonder common stock. This figure comes from the final post-transaction balance disclosed in the non-derivative holdings table on the Form 4.

What was the size of the RSU vesting reported by LNW on March 20, 2026?

On March 20, 2026, a total of 19,991 restricted stock units vested for LNW executive Siobhan Lane, converting one-for-one into common shares. These units included time-based and performance-based grants from March 2023 and March 2024 award dates.

Why were shares of LNW withheld at $78.61 in Siobhan Lane’s Form 4?

The Form 4 states that 8,316 shares were withheld at $78.61 per share to satisfy tax obligations from RSU vesting. This F-code disposition represents tax payment in shares rather than an open-market sale.

How are LNW shares held by Siobhan Lane on the ASX structured?

The filing explains that LNW equity is held via CHESS Depositary Interests (CDIs). Each CDI represents one fully paid share of Light & Wonder common stock, traded on the Australian Securities Exchange and held by CHESS Depositary Nominees Pty. Limited.