Light & Wonder CFO Oliver Chow Exercises RSUs, Sells Shares for Taxes

What Happened Oliver Chow, Executive Vice President, Chief Financial Officer & Treasurer of Light & Wonder, had 879 restricted stock units (RSUs) vest on August 25, 2026, which converted one-for-one into 879 CHESS Depositary Interests (CDIs). To satisfy tax withholding, 346 of those CDIs were disposed of at an equivalent price of $91.13 USD per CDI, generating approximately $31,531 in proceeds (amount reflects AUD→USD conversion). The remaining net shares retained from this vesting were 533 CDIs (879 vested − 346 withheld/sold).

Key Details

• Transaction date: August 25, 2026; Form 4 filed August 26, 2026 (appears timely).
• Vesting/derivative conversion: 879 RSUs → 879 CDIs at $0.00 exercise price (code M).
• Tax withholding/disposition: 346 CDIs disposed (code F) at $91.13 USD each, totaling ~$31,531 USD.
• Net shares retained from this vesting: 533 CDIs.
• Footnotes:
  • F1: CDIs are ASX-traded depositary interests representing underlying U.S. shares.
  • F2: Tax withholding value converted from AUD to USD at 1 AUD = 0.7163 USD.
  • F3: Filing states this represents the vesting of one‑third of RSUs granted Aug 30, 2023 and notes the award has fully vested; each RSU converted 1:1 into a share.
• Shares owned after this transaction (total holdings across all grants/accounts) are not specified in this Form 4.

Context

• This was not an open-market purchase but the vesting of RSUs with a routine tax-withholding sale (common practice when awards vest). The filing shows conversion/exercise of RSUs and immediate disposition of a portion to cover tax obligations rather than a discretionary sale for investment purposes.