Lane Siobhan 4
4 · Light & Wonder, Inc. · Filed Mar 6, 2026
Research Summary
AI-generated summary of this filing
Light & Wonder (LNW) SVP/CEO Siobhan Lane Exercises RSUs; Shares Sold for Taxes
What Happened Siobhan Lane, SVP & CEO – Gaming at Light & Wonder (ASX:LNW), had restricted stock units (RSUs) convert into shares on March 4–5, 2026 (9,003 shares total: 6,590 on 3/4 and 2,413 on 3/5). To satisfy tax-withholding obligations on the vesting, 2,741 shares were withheld/sold on March 4 at a reported price of $91.05 (USD) for proceeds of $249,568, and 1,004 shares were withheld/sold on March 5 at $92.62 (USD) for $92,990 — total tax-related proceeds ≈ $342,558. The conversions/awards themselves show $0 exercise price because they are RSU vest/conversion events (derivative-to-share).
Key Details
- Primary action: RSU vesting/conversion (transaction code M/A) and share dispositions to cover taxes (code F).
- Conversion dates: 2026-03-04 (6,590 shares) and 2026-03-05 (2,413 shares); withheld/sold for taxes on 2026-03-04 (2,741 shares at $91.05 = $249,568) and 2026-03-05 (1,004 shares at $92.62 = $92,990).
- Total shares sold to cover taxes: 3,745; total proceeds ≈ $342,558 (USD).
- Several RSU awards were reported on 2026-03-04 (6,590; 8,622; 4,310; 4,311 units) with differing vesting terms (see footnotes). One-third of a separate RSU award (2,413 shares) vested per footnote F8; remaining installments scheduled in later years.
- Shares are held/traded as CHESS Depositary Interests (CDIs) on the ASX (footnote F1). Prices reported in USD were converted from AUD (footnotes F2/F3).
- Filing date: 2026-03-06 for transactions on 2026-03-04 and 03-05 — filing appears timely (no late-filing indication in the provided data).
Context These transactions reflect routine RSU vesting and the common practice of withholding/selling shares to satisfy tax obligations (not an open-market investment decision). Derivative entries indicate RSUs converted into underlying CDIs/shares; the withheld/disposed shares were specifically to meet tax withholding (codes F). Some of the reported RSU awards are performance- or time-based with future vesting dates or cliff/performance conditions (see footnotes), so additional conversions or forfeitures could occur later.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-04+6,590→ 36,937 total - Tax Payment
Common Stock
[F1][F2]2026-03-04$91.05/sh−2,741$249,568→ 34,196 total - Exercise/Conversion
Common Stock
[F1]2026-03-05+2,413→ 36,609 total - Tax Payment
Common Stock
[F1][F3]2026-03-05$92.62/sh−1,004$92,990→ 35,605 total - Award
Restricted Stock Units
[F4]2026-03-04+6,590→ 6,590 total→ Common Stock (6,590 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-03-04−6,590→ 0 total→ Common Stock (6,590 underlying) - Award
Restricted Stock Units
[F5]2026-03-04+8,622→ 8,622 total→ Common Stock (8,622 underlying) - Award
Restricted Stock Units
[F6]2026-03-04+4,310→ 4,310 total→ Common Stock (4,310 underlying) - Award
Restricted Stock Units
[F7]2026-03-04+4,311→ 4,311 total→ Common Stock (4,311 underlying) - Exercise/Conversion
Restricted Stock Units
[F8]2026-03-05−2,413→ 4,826 total→ Common Stock (2,413 underlying)
Footnotes (8)
- [F1]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.
- [F2]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 $0.7093 USD.
- [F3]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 $0.7075 USD.
- [F4]Represents restricted stock units granted pursuant to a determination by the Compensation Committee of the Board of Directors of the issuer as payment in respect of the annual bonus earned by the reporting person with respect to 2025. The number of units was determined by dividing the dollar value of the bonus earned, based on actual performance for 2025, by the average of the high and low prices of the CDIs on the day preceding the grant date. Since the restricted stock units are payment in respect of the 2025 bonus, they are subject to immediate vesting. Each unit converts into a share of common stock on a one-for-one basis.
- [F5]The restricted stock units are scheduled to vest in three equal installments on March 4, 2027, 2028 and 2029.
- [F6]The restricted stock units are scheduled to cliff vest on March 4, 2029, contingent upon the achievement of a performance goal. If the performance goal is not met by December 31, 2028, all restricted stock units are forfeited. Each unit converts into a share of common stock on a one-for-one basis.
- [F7]The restricted stock units are scheduled to cliff vest on March 4, 2029, contingent upon the achievement of a performance goal. If the performance goal is not met by December 31, 2028, all restricted stock units are forfeited. Each unit converts into a share of common stock on a one-for-one basis.
- [F8]Represents the vesting of one-third of restricted stock units granted on March 5, 2025. The balance of the award is scheduled to vest in two equal installments of 2,413 shares on March 5, 2027 and March 5, 2028. Each restricted stock unit converts into a share of common stock on a one-for-one basis.