Fine Capital Partners, L.P. 4

What Happened
Fine Capital Partners, L.P. (identified as a 10% owner) sold a total of 9,037 shares of Light & Wonder, Inc. (LNWO) in open-market transactions on January 27, 2026. The sales were reported as three separate dispositions: 2,225 shares at a weighted average price of $112.29 (≈ $249,853), 2,426 shares at $113.28 (≈ $274,813), and 4,386 shares at $113.94 (≈ $499,735), totaling approximately $1,024,401. These were outright sales (S) — a disposal of holdings rather than a purchase or option exercise.

Key Details

• Transaction date: January 27, 2026; Form 4 filed January 29, 2026 (appears timely under the two-business-day rule).
• Reported per-line weighted average prices and proceeds:
  • 2,225 sh @ $112.29 = $249,853 (price reported as weighted avg; trades ranged $111.7123–$112.7034).
  • 2,426 sh @ $113.28 = $274,813 (weighted avg; trades ranged $112.7871–$113.5758).
  • 4,386 sh @ $113.94 = $499,735.
• Shares owned after the transaction: not specified in the provided summary (check the full Form 4 for post-transaction holdings).
• Notable footnotes:
  • F1/F2: reported prices are weighted averages; sales occurred in multiple trades within the stated price ranges. Detailed breakdowns are available upon request.
  • F3: Fine Capital reports these holdings as a pecuniary interest through investment funds and disclaims beneficial ownership except to the extent of such pecuniary interest.
• Transaction type code: S = Sale (disposition).

Context
This filing involves an institutional 10% owner, not a company executive. Institutional sales can reflect portfolio rebalancing or fund-level decisions and do not necessarily indicate management sentiment about the company. The weighted-average and range footnotes indicate multiple smaller trades rather than a single block sale.