Form 4: Light & Wonder Executive Vests Restricted Stock Units, Satisfies Tax Obligations

Light & Wonder's SVP & Chief Accounting Officer, Vanja Kalabic, vested restricted stock units and satisfied tax obligations on December 10, 2024.

Summary

• On December 10, 2024, Vanja Kalabic, SVP & Chief Accounting Officer at Light & Wonder, Inc., vested a portion of restricted stock units.
• The vesting included one-third of the restricted stock units granted on December 10, 2021.
• The award has now fully vested.
• Each restricted stock unit converted into one share of Class A common stock.
• A portion of the vested shares were used to satisfy tax withholding obligations.
• 225 shares were used to satisfy tax obligations.
• 89 shares were vested at a price of $95.93 per share.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation event, which is generally positive for aligning management with shareholder interests. There are no indications of negative sentiment.

Positives

• The vesting of restricted stock units indicates that performance milestones have been met.
• The full vesting of the award suggests long-term alignment between the executive and the company's goals.

Industry Context

This type of stock vesting is a common practice in executive compensation packages within the gaming and technology industries, aligning executive interests with shareholder value.

Comparison to Industry Standards

• Many companies in the gaming and technology sectors, such as Aristocrat Leisure and Scientific Games, use restricted stock units as part of their executive compensation packages.
• The vesting schedule of one-third after three years is a fairly standard practice for these types of awards.
• The conversion of restricted stock units to common stock on a one-for-one basis is also a typical arrangement.

Stakeholder Impact

• The vesting of restricted stock units has a minor positive impact on shareholders by aligning executive interests with company performance.
• The vesting of shares has a positive impact on the executive.

Key Dates

Keywords

Restricted Stock Units, Vesting, Executive Compensation, Light & Wonder, Stock Options, Equity, LNW