Form 4: Light & Wonder Executive Vanja Kalabic Reports Stock Transactions
SEC Form 4 Filing
Vanja Kalabic, SVP & Chief Accounting Officer of Light & Wonder, Inc., reports the vesting and subsequent tax withholding of restricted stock units.
Summary
- On May 12, 2024, Vanja Kalabic vested 938 shares of common stock from restricted stock units and disposed of 351 shares to cover tax obligations at a price of $91.55 per share.
- Following these transactions on May 12, 2024, Kalabic directly owned 4,290 shares of Light & Wonder common stock.
- On May 13, 2024, Kalabic vested 526 shares of common stock from restricted stock units and disposed of 197 shares to cover tax obligations at a price of $91.55 per share.
- Following these transactions on May 13, 2024, Kalabic directly owned 4,619 shares of Light & Wonder common stock.
- The restricted stock units vested convert into common stock on a one-for-one basis.
Sentiment
Score: 6
Explanation: The document reflects routine executive stock transactions related to compensation. It's neutral in sentiment as it simply reports facts.
Positives
- The vesting of restricted stock units indicates that performance milestones were likely met.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Vesting schedules are typically designed to align executive interests with long-term shareholder value.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, similar to those granted to Vanja Kalabic.
- Tax withholding practices upon vesting are standard across publicly traded companies.
- Companies like Scientific Games (now Light & Wonder) and its peers in the gaming and entertainment technology sectors use equity-based compensation to attract and retain talent.
Stakeholder Impact
- The vesting of restricted stock units has a minor dilutive effect on existing shareholders.
- The transactions demonstrate ongoing executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 05/12/2021 | Date of grant for restricted stock units, one-third of which vested on 05/12/2024. |
| 05/12/2024 | Vesting of 938 restricted stock units and disposal of 351 shares for tax obligations. |
| 05/13/2022 | Date of grant for restricted stock units, one-third of which vested on 05/13/2024, with the balance vesting on 05/13/2025. |
| 05/13/2024 | Vesting of 526 restricted stock units and disposal of 197 shares for tax obligations. |
| 05/13/2025 | Scheduled vesting date for the remaining balance of restricted stock units granted on May 13, 2022. |
| 05/14/2024 | Date of signature for the Form 4 filing. |
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