Morro Stephen W 4
4 · Light & Wonder, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Light & Wonder Director Stephen Morro Exercises and Sells 2,214 Shares
What Happened Stephen W. Morro, a director of Light & Wonder, had 2,214 restricted stock units (RSUs) granted and converted into 2,214 CHESS Depositary Interests (CDIs) (reported as an award and conversion/exercise) on 2026-03-12. The filing shows an acquisition of 2,214 shares (derivative exercise/conversion) and a same-day disposition of 2,214 shares. All transactions are reported at $0.00 per share (no cash consideration reported).
Key Details
- Transaction date: 2026-03-12 (reported on Form 4 filed 2026-03-16 — filing appears late).
- Actions reported: A (award/grant of RSUs), M (exercise/conversion of derivative) — 2,214 shares acquired; M (exercise/conversion) — 2,214 shares disposed.
- Price/value reported: $0.00 for each line (no cash proceeds or per-share sale price disclosed).
- Shares owned after transaction: not stated in the provided excerpt of the filing.
- Footnotes: F1 — shares are CHESS Depositary Interests (CDIs) traded/held via ASX arrangements; F2 — RSUs were granted as payment for service on a special committee and convert one-for-one into shares.
- Timeliness: Filing appears to be late (transaction on 3/12, Form 4 filed 3/16); late reports can reduce transparency for investors.
Context This sequence shows an award/RSU conversion and a simultaneous same-day disposal of the resulting shares. For retail investors, note this is not an open-market purchase — it's a board-determined award that converted into shares and was disposed of the same day. The Form 4 reports zero cash consideration; the filing does not disclose sale proceeds or market value — check market prices on 2026-03-12 or subsequent filings for monetary details.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-12+2,214→ 14,629 total - Award
Restricted Stock Units
[F2]2026-03-12+2,214→ 2,214 total→ Common Stock (2,214 underlying) - Exercise/Conversion
Restricted Stock Units
[F2]2026-03-12−2,214→ 0 total→ Common Stock (2,214 underlying)
Footnotes (2)
- [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 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.