Lane Siobhan 4
4 · Light & Wonder, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Light & Wonder (ASX:LNW) SVP/CEO Siobhan Lane Exercises RSUs, Sells Shares
What Happened
Siobhan Lane, SVP & CEO — Gaming at Light & Wonder — had a total of 19,991 restricted stock units (RSUs) convert into common shares on March 20, 2026 (conversion recorded at $0.00 per share). To satisfy tax withholding obligations, 8,316 of those shares were transferred/disposed at an implied price of $78.61 per share, generating approximately $653,721 (USD, converted from AUD per the filing). The transactions are reported as derivatives exercised/converted (code M) and shares disposed for tax withholding (code F).
Key Details
- Transaction date: March 20, 2026; Form 4 filed March 24, 2026. No late filing is indicated in the Form 4.
- Conversion (acquired): 19,991 shares at $0.00 (RSU vesting/conversion into common shares).
- Disposed for tax withholding: 8,316 shares at $78.61 each, total ≈ $653,721 (USD).
- Footnotes:
- F1: Shares are held as CHESS Depositary Interests (CDIs) on the ASX; each CDI = one share.
- F2: Sale value converted from AUD to USD at 1 AUD = 0.7023 USD.
- F3–F6: Vesting comprised one‑third tranches and performance‑based RSUs from grants on Mar 24, 2023 and Mar 20, 2024; based on performance, certain awards vested 100% and converted one‑for‑one into shares.
- Shares owned after the transactions: not specified in the public filing.
Context
This was primarily an RSU vesting event (award conversion) with a routine sell‑to‑cover to satisfy tax withholding — not an open‑market investment decision. The derivatives entries reflect the conversion/vesting of RSUs (code M) and the F entries reflect shares withheld/disposed to pay taxes (code F). For retail investors, vesting plus sell‑to‑cover is common compensation mechanics and should not be interpreted on its own as a bullish or bearish signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20+4,372→ 9,630 total - Tax Payment
Common Stock
[F1][F2]2026-03-20$78.61/sh−1,819$142,992→ 7,811 total - Exercise/Conversion
Common Stock
[F1]2026-03-20+2,505→ 10,316 total - Tax Payment
Common Stock
[F1][F2]2026-03-20$78.61/sh−1,042$81,912→ 9,274 total - Exercise/Conversion
Common Stock
[F1]2026-03-20+6,557→ 15,831 total - Tax Payment
Common Stock
[F1][F2]2026-03-20$78.61/sh−2,727$214,369→ 13,104 total - Exercise/Conversion
Common Stock
[F1]2026-03-20+6,557→ 19,661 total - Tax Payment
Common Stock
[F1][F2]2026-03-20$78.61/sh−2,728$214,448→ 16,933 total - Exercise/Conversion
Restricted Stock Units
[F3]2026-03-20−4,372→ 0 total→ Common Stock (4,372 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-03-20−2,505→ 2,505 total→ Common Stock (2,505 underlying) - Exercise/Conversion
Restricted Stock Units
[F5]2026-03-20−6,557→ 0 total→ Common Stock (6,557 underlying) - Exercise/Conversion
Restricted Stock Units
[F6]2026-03-20−6,557→ 0 total→ Common Stock (6,557 underlying)
Footnotes (6)
- [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 $0.7023 USD.
- [F3]Represents the vesting of one-third of restricted stock units granted on March 24, 2023. The award has fully vested. Each restricted stock unit converts into a share of common stock on a one-for-one basis.
- [F4]Represents the vesting of one-third of restricted stock units granted on March 20, 2024. The balance of the award is scheduled to vest on March 20, 2027. Each restricted stock unit converts into a share of common stock on a one-for-one basis.
- [F5]Represents the cliff vesting of restricted stock units granted on March 24, 2023, subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 100% of the RSUs vested and converted into shares of common stock on a one-for-one basis.
- [F6]Represents the cliff vesting of restricted stock units granted on March 24, 2023, subject to the achievement of performance criteria over a three-year period. Based on the level of achievement, 100% of the RSUs vested and converted into shares of common stock on a one-for-one basis.