Form 4: Light & Wonder SVP Vanja Kalabic Reports Stock Transactions
SEC Form 4 Filing
Vanja Kalabic, SVP & Chief Accounting Officer of Light & Wonder, reports the vesting and disposal of restricted stock units and common stock transactions.
Summary
- On March 20, 2024, Vanja Kalabic, SVP & Chief Accounting Officer of Light & Wonder, reported transactions involving common stock and restricted stock units.
- A total of 3,360 common stock were acquired at $0 price.
- 1,257 shares of common stock were disposed of at a price of $99.8.
- Various restricted stock units vested, including 989 units from a 2020 grant, 330 units from a 2021 grant, 847 units from a 2022 grant, and 1,194 units from a 2023 grant.
- New restricted stock units were also granted, including 2,004 units vesting in installments until 2027, and two grants of 1,002 units each, cliff vesting in 2027 contingent on performance goals.
- The transactions resulted in a change in beneficial ownership of both common stock and derivative securities.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The vesting of RSUs and subsequent sale for tax obligations is a common practice.
Positives
- The vesting of restricted stock units suggests continued employment and contribution to the company.
- The grant of new restricted stock units incentivizes future performance.
Future Outlook
Future vesting of restricted stock units is scheduled for March 20, 2025, 2026 and 2027, with some vesting contingent on performance goals being met by December 31, 2026.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the industry to align management's interests with those of shareholders.
- The vesting schedules and performance-based conditions are typical features of executive compensation packages, similar to those offered by companies like Scientific Games (prior to its acquisition) and Aristocrat Leisure.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider activity related to compensation.
- Employees may be impacted by the vesting of restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 03/20/2024 | Date of the reported transactions (acquisition/disposal of stock and vesting of restricted stock units). |
| 03/22/2021 | Date of grant of restricted stock units, one-third of which vested on 03/20/2024. |
| 03/25/2022 | Date of grant of restricted stock units, one-third of which vested on 03/20/2024. |
| 03/24/2023 | Date of grant of restricted stock units, one-third of which vested on 03/20/2024. |
| 03/20/2025 | Scheduled vesting date for remaining restricted stock units from the 2022 and 2023 grants. |
| 03/20/2026 | Scheduled vesting date for remaining restricted stock units from the 2023 grant. |
| 12/31/2026 | Deadline for achieving performance goals related to certain restricted stock unit grants. |
| 03/20/2027 | Scheduled cliff vesting date for performance-based restricted stock units. |
| 03/22/2024 | Date of signature for the Form 4 filing. |
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