Morro Stephen W 4

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.