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Director at Light & Wonder (ASX: LNW) gains vested and new RSUs

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Light & Wonder, Inc. director Michael Marchetti reported routine equity compensation changes. Restricted stock units covering 2,391 shares fully vested and were converted into the same number of common shares, leaving him with 5,550 common shares held directly. He also received a new grant of 2,498 restricted stock units, each convertible into one share of common stock and scheduled to vest on the earlier of the company’s 2027 annual meeting or June 10, 2027. The common shares are held via CHESS Depositary Interests traded on the Australian Securities Exchange, with each CDI representing one fully paid share of common stock.

Positive

  • None.

Negative

  • None.
Insider Marchetti Michael
Role null
Type Security Shares Price Value
Exercise Restricted Stock Units 2,391 $0.00 --
Grant/Award Restricted Stock Units 2,498 $0.00 --
Exercise Common Stock 2,391 $0.00 --
Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock — 5,550 shares (Direct, null)
Footnotes (1)
  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. Represents the vesting of restricted stock units granted on June 10, 2025. The award has fully vested. Each restricted stock unit converted into a share of common stock on a one-for-one basis. The restricted stock units are scheduled to vest on the earlier of (a) the date of the issuer's 2027 annual meeting of stockholders and (b) June 10, 2027. Each unit converts into a share of common stock on a one-for-one basis.
RSUs vested 2,391 units Converted into common stock on a one-for-one basis
Common shares after transactions 5,550 shares Direct holdings following RSU conversion
New RSU grant 2,498 units Award scheduled to vest by 2027 meeting or June 10, 2027
RSU conversion ratio 1 unit : 1 share Each restricted stock unit converts into one share of common stock
CDI ratio 1 CDI : 1 share Each CHESS Depositary Interest represents one fully paid common share
Restricted Stock Units financial
"Represents the vesting of restricted stock units granted on June 10, 2025."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
CHESS Depositary Interests ("CDIs") financial
"Shares are held via CHESS Depositary Interests ("CDIs"), which are units of beneficial ownership"
vested financial
"Represents the vesting of restricted stock units granted on June 10, 2025. The award has fully vested."
annual meeting of stockholders financial
"scheduled to vest on the earlier of (a) the date of the issuer's 2027 annual meeting of stockholders"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
Marchetti Michael
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
[ASX:LNW]
3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock(1)06/10/2026M2,391A$05,550D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(2)06/10/2026M2,391 (2) (2)Common Stock2,391$00D
Restricted Stock Units(3)06/10/2026A2,498 (3) (3)Common Stock2,498$02,498D
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 vesting of restricted stock units granted on June 10, 2025. The award has fully vested. Each restricted stock unit converted into a share of common stock on a one-for-one basis.
3. The restricted stock units are scheduled to vest on the earlier of (a) the date of the issuer's 2027 annual meeting of stockholders and (b) June 10, 2027. Each unit converts into a share of common stock on a one-for-one basis.
/s/ Sweta Gabhawala, attorney-in-fact for Michael Marchetti06/12/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Michael Marchetti report for LNWO on this Form 4?

Michael Marchetti reported the vesting and conversion of 2,391 restricted stock units into common shares and a new grant of 2,498 restricted stock units. These actions increased his equity-based holdings through routine compensation-related awards and vesting, without any reported open-market purchases or sales.

How many Light & Wonder (LNWO) shares does Michael Marchetti hold after these transactions?

After the reported transactions, Michael Marchetti directly holds 5,550 shares of Light & Wonder common stock. In addition, he holds 2,498 restricted stock units, each of which can convert into one share if and when the award vests under its stated schedule.

What is the size and nature of the new restricted stock unit grant to the LNWO director?

The new grant to director Michael Marchetti consists of 2,498 restricted stock units. Each unit represents the right to receive one share of Light & Wonder common stock upon vesting, providing additional equity-based compensation tied to his continued board service over time.

When will Michael Marchetti’s new LNWO restricted stock units vest?

The 2,498 restricted stock units are scheduled to vest on the earlier of the company’s 2027 annual meeting of stockholders or June 10, 2027. Upon vesting, each unit converts into one share of Light & Wonder common stock on a one-for-one basis.

How are Michael Marchetti’s Light & Wonder shares held and traded on the ASX?

Michael Marchetti’s Light & Wonder common shares are held via CHESS Depositary Interests, or CDIs, traded on the Australian Securities Exchange. Each CDI represents one fully paid share of Light & Wonder common stock held by CHESS Depositary Nominees on behalf of beneficial owners.

Did the LNWO Form 4 show any stock sales or open-market purchases by Michael Marchetti?

The Form 4 does not show any open-market stock sales or purchases by Michael Marchetti. All reported transactions involve vesting and conversion of restricted stock units and a new restricted stock unit grant, which are compensation-related equity events rather than market trades.