Fine Capital Partners, L.P. 4

What Happened

• Fine Capital Partners, L.P., Fine Capital Advisors, LLC and Debra Fine — each reported as 10% owners — reported open-market sales of Light & Wonder, Inc. (LNWO) common stock on 2026-01-22. Each reporting person sold 5,694 shares at a reported weighted average price of $116.29, for $662,141 each; combined sales totaled 17,082 shares for approximately $1,986,423.
• These transactions are sales (dispositions). Sales by institutional holders are often routine portfolio or fund-management activity and do not by themselves indicate company performance or insider sentiment.

Key Details

• Transaction date: 2026-01-22; Form 4 filed: 2026-01-26 (appears timely — filed within two business days).
• Reported price: weighted average $116.29; range across multiple trades $116.2783–$116.4219 (footnote F1 offers to provide per-trade breakdown on request).
• Shares sold per reporting person: 5,694; total shares sold across the three reporting persons: 17,082; total proceeds ≈ $1,986,423.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnote (F2): Each reporting person states the reported amount reflects a pecuniary interest through private funds and disclaims beneficial ownership except to the extent of any pecuniary interest.

Context

• These filings are from 10% owners (institutional/private-fund related), not an individual executive. Institutional sales can reflect fund rebalancing, redemptions, or other portfolio-management needs rather than a direct statement about company fundamentals.
• For retail investors: purchases by insiders often carry more weight as bullish signals; sales should be interpreted with caution and in context of other insider activity and company fundamentals.