Kalabic Vanja 4

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.