Odell Jamie 4

What Happened

• Jamie Odell, a director of Light & Wonder, exercised 135,000 stock options on June 15, 2026, resulting in the acquisition of 135,000 CDIs (units representing ASX-listed shares) valued at $35.42 each (total ~$4,781,700).
• To cover the exercise price and related tax liability, 53,748 CDIs were withheld/disposed (reported as F) at an implied value of $88.20 per CDI (total ~$4,740,574). The filing also shows a derivative-item reporting the options converted to shares.
• On June 16, 2026, Odell sold 30,000 CDIs in an open-market transaction at $90.08 per CDI, generating proceeds of ~$2,702,400.

Key Details

• Transaction dates and prices:
  • 2026-06-15: Exercised 135,000 options → acquired 135,000 CDIs @ $35.42 = $4,781,700 (code M).
  • 2026-06-15: 53,748 CDIs withheld/disposed to pay exercise price/taxes @ $88.20 = $4,740,574 (code F).
  • 2026-06-16: Sold 30,000 CDIs in open market @ $90.08 = $2,702,400 (code S).
• Shares are held/traded as CHESS Depositary Interests (CDIs) on the ASX (footnote F1). Monetary amounts were converted from AUD to USD per the filing (F2, F3).
• Footnotes: options vested in three equal installments on Sept 28, 2021, 2022, and 2023 (F6). Some shares cited as held by affiliated entities (New Dusk Pty Ltd and Jamie & Caroline Odell Superannuation Fund) (F4, F5).
• Ownership after the transactions is not specified in the excerpt provided.
• Filing was submitted on 2026-06-17 for transactions dated 2026-06-15 and 2026-06-16 — within the typical Form 4 reporting window (timely).

Context

• This was primarily an option exercise followed by withholding of shares to cover costs/taxes and a subsequent open-market sale. The withholding of CDIs to pay exercise price/taxes and the immediate sale of a portion of shares is a common cashless-style outcome of exercising options and does not, by itself, indicate investment intent beyond satisfying obligations.