Form 4: Light & Wonder Director Reports Vesting of Restricted Stock Units

Director Antonia Korsanos reports the vesting of restricted stock units and disclaims beneficial ownership of shares held by her child in Light & Wonder, Inc.

Summary

• On October 1, 2024, Antonia Korsanos, a director of Light & Wonder, Inc., had 4,750 shares of common stock vest at a price of $0.
• Following this transaction, Ms. Korsanos directly owns 14,750 shares of common stock.
• She also disclaims beneficial ownership of 313 shares held by her child.
• Additionally, 1,417 restricted stock units vested, with the balance of the award scheduled to vest in two equal installments on October 1, 2025, and October 1, 2026.
• Another 3,333 restricted stock units vested, with the balance of the award scheduled to vest in two equal installments on October 1, 2025, and October 1, 2026.
• Following these transactions, Ms. Korsanos directly owns 2,835 and 6,667 restricted stock units respectively.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing regarding stock vesting, which is neither particularly positive nor negative.

Positives

• The vesting of restricted stock units indicates confidence in the company's future performance.

Future Outlook

The balance of the restricted stock units are scheduled to vest in two substantially equal installments on October 1, 2025 and October 1, 2026.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time to align management's interests with those of shareholders.
• Vesting schedules of three years are common in the industry, similar to the vesting schedule described in the document.
• Companies like Electronic Arts, Activision Blizzard, and Take-Two Interactive also utilize restricted stock units as part of their executive compensation plans.

Stakeholder Impact

• The vesting of stock options and restricted stock units can have a dilutive effect on existing shareholders, although the impact is generally small in these types of transactions.

Key Dates