Fine Capital (LNW) sells 80K shares and makes 102K in-kind distribution
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Light & Wonder, Inc. had an affiliated investment group led by Fine Capital Partners, L.P., a 10% owner, report recent activity in its common stock. Private funds it manages sold 80,000 shares in the open market at a weighted average price of $82.4428 per share, leaving 7,768,992 shares held indirectly afterward.
The group then made an additional in‑kind distribution of 102,200 shares from those private funds to certain investors for no cash consideration, reducing indirect holdings to 7,666,792 shares. Separately, 13,000 shares are owned directly by Debra Fine for her personal account, and are not held by the Fine Capital entities. The reporting parties state they may be deemed beneficial owners only to the extent of their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 80,000 shares ($6,595,424)
Net Sell
3 txns
Insider
Fine Capital Partners, L.P., Fine Capital Advisors, LLC, Fine Debra
Role
null | null | null
Sold
80,000 shs ($6.60M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock, par value $.001 per share | 102,200 | $0.00 | -- |
| Sale | Common Stock, par value $.001 per share | 80,000 | $82.4428 | $6.60M |
| holding | Common Stock, par value $.001 per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $.001 per share — 7,666,792 shares (Indirect, (See Footnote));
Common Stock, par value $.001 per share — 13,000 shares (Direct, null)
Footnotes (1)
- This reported price is a weighted average price. These shares were sold in multiple transactions within the range of $82.0413 to $83.0111. 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 sold at each separate price within the range set forth in this footnote. The securities reported herein are held in the accounts of private funds. Fine Capital Partners, L.P. may be deemed to be a beneficial owner of such securities by virtue of its role as the investment manager of such private funds. Fine Capital Advisors, LLC may be deemed to be a beneficial owner of such securities by virtue of its role as the general partner of Fine Capital Partners, L.P. Ms. Debra Fine may be deemed to be a beneficial owner of such securities by virtue of her role as the manager of Fine Capital Advisors, LLC. Except as otherwise stated herein, each Reporting Person disclaims beneficial ownership in the securities reported on this Form 3 except to the extent of its or her 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. The reported securities were distributed to certain investors in private funds managed by Fine Capital Partners, L.P. The reported securities were distributed in-kind and for no consideration. These 13,000 shares are owned directly by Debra Fine for her personal account and for her sole benefit. These shares are not beneficially owned by Fine Capital Partners, L.P. or Fine Capital Advisors, LLC.
Key Figures
Open-market sale: 80,000 shares
Sale price: $82.4428/share
Indirect holdings after sale: 7,768,992 shares
+3 more
6 metrics
Open-market sale
80,000 shares
Common stock sold by private funds managed by Fine Capital Partners, L.P.
Sale price
$82.4428/share
Weighted average price for 80,000 shares; individual trades between $82.0413 and $83.0111
Indirect holdings after sale
7,768,992 shares
Light & Wonder common stock held indirectly following 80,000-share sale
In-kind distribution
102,200 shares
Distributed from private funds to certain investors for no consideration
Indirect holdings after distribution
7,666,792 shares
Light & Wonder common stock reported as indirectly held after in-kind distribution
Direct personal holdings
13,000 shares
Shares owned directly by Debra Fine for her personal account
Key Terms
weighted average price, beneficial owner, pecuniary interest, in-kind, +1 more
5 terms
weighted average price financial
"This reported price is a weighted average price. These shares were sold in multiple transactions..."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial owner regulatory
"Fine Capital Partners, L.P. may be deemed to be a beneficial owner of such securities..."
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
pecuniary interest financial
"disclaims beneficial ownership... except to the extent of its or her pecuniary interest, if any, therein"
in-kind financial
"The reported securities were distributed in-kind and for no consideration."
Section 16 regulatory
"not be deemed to be an admission that such Reporting Person is the beneficial owner... for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What insider transactions did Fine Capital report for Light & Wonder (LNW)?
Fine Capital-related funds reported selling 80,000 Light & Wonder shares and later distributing 102,200 shares in-kind to certain fund investors. These moves changed the mix of indirect holdings without involving option exercises or derivative positions.
Do the Fine Capital reporting persons claim full beneficial ownership of the Light & Wonder (LNW) shares?
The reporting persons state they may be deemed beneficial owners through their roles with the private funds but disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest. The filing specifies this is not an admission of beneficial ownership under Section 16.