McLennan Hamish 4
4 · Light & Wonder, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Light & Wonder Director Hamish McLennan Converts 664 RSUs, Transfers Shares
What Happened
Hamish McLennan, a director of Light & Wonder, had 664 restricted stock units (RSUs) converted into 664 shares and the same 664 shares were then disposed/transferred on March 12, 2026. All reported transactions show a $0.00 per-share price and $0 total value, indicating these were conversions/transfers rather than open-market cash sales or purchases.
Key Details
- Transaction date: March 12, 2026. Form filed March 16, 2026 reporting the March 12 transactions.
- Reported transactions:
- Grant/award (A): 664 shares (derivative) @ $0.00 — acquired (RSU award/conversion).
- Exercise/conversion (M): 664 shares @ $0.00 — acquired (derivative to common stock).
- Exercise/conversion (M): 664 shares @ $0.00 — disposed.
- Shares owned after transaction: not specified in the filing.
- Footnotes of note:
- Shares are held as CHESS Depositary Interests (CDIs) on the ASX (F1).
- Some company shares are held by entities associated with Mr. McLennan (Linyanti Holdings Pty Ltd ATF McLennan Superannuation Fund and Londolozi Pty Ltd ATF Londolozi Family Trust) (F2, F3).
- The 664 units reflect immediately restricted stock units that converted one-for-one into common shares (F4).
- The filing reports conversion and transfer activity (zero consideration) — not an open-market purchase or sale.
Context
This appears to be an internal conversion of RSUs into common stock followed by a transfer/disposition of those shares (e.g., to holding entities or for administrative/tax purposes). Because the transactions show $0 consideration, they should not be interpreted as a cash sale; they are typical non-market equity administration events. Retail investors should note these are not necessarily signals of buying or selling sentiment by the director.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-12+664→ 26,446 total - Award
Restricted Stock Units
[F4]2026-03-12+664→ 664 total→ Common Stock (664 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-03-12−664→ 0 total→ Common Stock (664 underlying)
- 6,380(indirect: Superannuation Fund)
Common Stock
[F2] - 9,750(indirect: By Trust)
Common Stock
[F3]
Footnotes (4)
- [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 shares of common stock held by Linyanti Holdings Pty Limited ATF McLennan Superannuation Fund, a retirement fund of which Mr. McLennan is the beneficiary.
- [F3]Represents shares of common stock held by Londolozi Pty Limited ATF Londolozi Family Trust, of which Mr. McLennan serves as trustee.
- [F4]Represents immediately restricted stock units granted pursuant to a determination by the Board of Directors of the issuer (the "Board of Directors") as payment in respect of the reporting person's service on a special committee of the Board of Directors prior to the date of grant. Each restricted stock unit converted into a share of common stock on a one-for-one basis.