Pellicioli Lorenzo 4

What Happened

• Lorenzo Pellicioli, a director of Brightstar Lottery PLC (BRSL), reported transactions dated May 12, 2026. He exercised/conversion of derivative instruments covering 14,801 shares (code M) and the filing also shows a contemporaneous disposition of the same 14,801 shares — consistent with an immediate sale/cashless exercise. He also had 17,316 restricted share units (RSUs) vest on May 12, 2026 and converted to shares (code A). To cover tax withholding, 1,450 of the vested RSU shares were withheld at $11.55 per share, totaling $16,748 (code F).

Key Details

• Transaction date(s): May 12, 2026; Form 4 filed May 14, 2026 (reports events on May 12).
• Exercise/conversion (M): 14,801 shares acquired and 14,801 shares disposed (filing shows both acquisition and disposition; no sale price/proceeds reported).
• RSU grant/vesting (A): 17,316 shares vested and converted to ordinary shares.
• Tax withholding (F): 1,450 RSU shares withheld at $11.55/share = $16,748 to cover tax liability.
• Shares owned after the reported transactions: 95,264 ordinary shares (computed from corrected prior direct ownership of 79,398 shares as of the March 17, 2026 Form 3 plus net +15,866 shares received from RSU vesting after withholding).
• Notable footnotes: correction to prior Form 3 direct ownership (F2); RSUs that vested on May 12, 2026 (F1); withheld shares used to pay taxes (F3). Reporting person is sole shareholder of Flavus S.r.l. (F4).
• Timeliness: Filed two days after the transaction date; filing shows no late-filing flag.

Context

• The pattern — exercising options or converting derivatives and simultaneously disposing of the same number of shares — is typically a cashless exercise or immediate sale of exercised shares; the Form 4 here shows both the acquisition and disposition of 14,801 shares but does not report sale proceeds.
• The RSU vesting increased Pellicioli’s net holdings (after tax withholding). Purchases or exercises that increase insider holdings are often of more interest to retail investors; here the net result was a material increase in share count due to RSU vesting.
• These filings are factual disclosures of insider activity and do not by themselves indicate why the insider acted.