Kalabic Vanja 4
4 · Light & Wonder, Inc. · Filed Mar 6, 2026
Research Summary
AI-generated summary of this filing
Light & Wonder SVP Vanja Kalabic Sells Shares, Receives RSUs
What Happened
- Vanja Kalabic, SVP & Chief Accounting Officer of Light & Wonder (ASX:LNW), converted/vested a total of 2,535 restricted stock units (RSUs) on March 4–5, 2026. Of those shares, 1,015 were surrendered to satisfy tax withholding obligations (proceeds/value shown as dispositions) and 1,520 were sold in an open-market transaction for $90.19 per share, generating $137,089. The tax-withholding dispositions totaled $92,823 (combined $68,834 and $23,989 amounts reported, converted from AUD to USD per filing footnotes).
- The filings also show multiple RSU grants reported on March 4 (including bonus-related immediate vesting and other awards with future or performance-based vesting schedules). The conversions/exercises themselves show $0 proceeds because they were vesting/conversion events; subsequent dispositions reflect shares used to cover taxes and the open-market sale.
Key Details
- Transaction dates and prices:
- March 4, 2026: 1,889 RSUs converted; 756 shares surrendered for tax withholding at $91.05 (≈ $68,834).
- March 5, 2026: 646 RSUs converted; 259 shares surrendered for tax withholding at $92.62 (≈ $23,989).
- March 5, 2026: Open-market sale of 1,520 shares at $90.19 = $137,089.
- Net effect of conversions on March 4–5: 2,535 RSUs converted → 1,015 shares used for tax withholding, 1,520 sold.
- Shares owned after the transactions: not specified in the Form 4 excerpt provided.
- Notable footnotes:
- Shares are CHESS Depositary Interests (CDIs) representing ASX-listed units; AUD→USD conversions were applied for reporting (see F1–F4).
- Some RSUs were bonus awards that vested immediately (F5); others have scheduled or performance-based vesting through 2027–2029 (F6–F9).
- F2/F3 explain tax-withholding satisfaction and exchange-rate conversions.
- Filing timeliness: filing date 2026-03-06 for transactions on 2026-03-04 and 03-05; no late filing flag indicated in the provided information.
Context
- These transactions are routine RSU vesting and post-vesting actions: the RSUs were converted to shares (derivative exercise/conversion), some shares were surrendered to satisfy tax withholding, and a portion was sold on the open market. This pattern (vesting → surrender for taxes → partial sale) is common and does not by itself indicate management intent beyond standard compensation tax handling.
- Transaction codes in the filing: M = exercise/conversion of derivative (vesting of RSUs), F = payment of exercise price or tax liability (surrender of shares for taxes), S = open-market sale, A = grant/award.
Insider Transaction Report
Form 4Exit
Light & Wonder, Inc.ASX:LNW
Kalabic Vanja
SVP & Chief Accounting Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-03-04+1,889→ 8,930 total - Tax Payment
Common Stock
[F1][F2]2026-03-04$91.05/sh−756$68,834→ 8,174 total - Exercise/Conversion
Common Stock
[F1]2026-03-05+646→ 8,820 total - Tax Payment
Common Stock
[F1][F3]2026-03-05$92.62/sh−259$23,989→ 8,561 total - Sale
Common Stock
[F1][F4]2026-03-05$90.19/sh−1,520$137,089→ 7,041 total - Award
Restricted Stock Units
[F5]2026-03-04+1,889→ 1,889 total→ Common Stock (1,889 underlying) - Exercise/Conversion
Restricted Stock Units
[F5]2026-03-04−1,889→ 0 total→ Common Stock (1,889 underlying) - Award
Restricted Stock Units
[F6]2026-03-04+2,842→ 2,842 total→ Common Stock (2,842 underlying) - Award
Restricted Stock Units
[F7]2026-03-04+1,421→ 1,421 total→ Common Stock (1,421 underlying) - Award
Restricted Stock Units
[F8]2026-03-04+1,421→ 1,421 total→ Common Stock (1,421 underlying) - Exercise/Conversion
Restricted Stock Units
[F9]2026-03-05−646→ 1,293 total→ Common Stock (646 underlying)
Footnotes (9)
- [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]Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.7075 USD.
- [F5]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.
- [F6]The restricted stock units are scheduled to vest in three equal installments on March 4, 2027, 2028 and 2029.
- [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]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.
- [F9]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 substantially equal installments on March 5, 2027 (646 shares) and March 5, 2028 (647 shares). Each restricted stock unit converts into a share of common stock on a one-for-one basis.
Signature
/s/ Sweta Gabhawala, attorney-in-fact for Vanja Kalabic|2026-03-06