Light & Wonder Director Jamie Odell Exercises Options for 150,000 Shares

What Happened
Jamie Odell, a director of Light & Wonder, exercised stock options on Aug 17, 2026 to acquire 150,000 CDIs (CHESS Depositary Interests) at an exercise price of $35.42 per share, totaling about $5.31 million (reported in USD). To cover the exercise price and associated tax liabilities, 55,334 CDIs were withheld/treated as payment and 40,000 CDIs were sold in open-market trades on Aug 18, 2026 — a total of 95,334 CDIs disposed. Proceeds reported for the withheld and sold CDIs total roughly $8.98 million (USD, converted from AUD where applicable).

Key Details

• Transaction dates: exercised on 2026-08-17; open-market sales on 2026-08-18.
• Exercise: 150,000 shares acquired @ $35.42 each = $5,313,000 (code M).
• Withholding to pay exercise price: 55,334 CDIs disposed @ $95.84 (reported) = $5,303,211 (code F).
• Open-market sales (to cover tax liability): 1,425 @ $91.50, 37,929 @ $91.95, 646 @ $93.06; combined proceeds ≈ $3,678,077 (codes S; weighted-average prices reported).
• Total shares disposed (withholding + market sales): 95,334 CDIs; total proceeds reported ≈ $8.98M.
• Shares owned after the transactions: not specified in the provided filing details.
• Notable footnotes: CDIs are ASX-traded depositary interests (F1). Some USD prices were converted from AUD using the exchange rates noted in the filing (F2, F6). Sales reported as weighted averages executed across multiple trades to cover taxes (F3–F5).
• Filing timeliness: filing dated 2026-08-19 for transactions on 8/17–8/18; no late filing was indicated in the provided record.

Context
This was an options exercise followed by sell-to-cover activity (withholding of shares to pay the exercise price and separate open-market sales to satisfy tax withholding). That pattern is common for employees/directors exercising vested options and does not, by itself, indicate a change in personal conviction. The filing also notes related holdings by family entities and a superannuation fund (per footnotes), and that the options vested in three equal installments in 2021–2023 (F7–F9). Transaction codes: M = option exercise, F = withholding/tax payment, S = open-market sale.