SEC Form 4 · accession 0000750004-18-000179
Light & Wonder, Inc. · ASX:LNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas Albregts
Officer — EVP & Grp Chief Exec, Gaming
Period of report
Aug 6, 2018
Accepted (ET)
Aug 8, 2018 · 4:38 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000750004
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Aug 6, 2018 | A | 7,093 | A | — | — | Common Stock | 7,093 | 7,093 | D |
| Employee Stock Option (right to buy)F2 | $37.35 | Aug 6, 2018 | A | 13,886 | A | — | Aug 6, 2028 | Common Stock | 13,886 | 13,886 | D |
| Employee Stock Option (right to buy)F3 | $37.35 | Aug 6, 2018 | A | 13,886 | A | — | Aug 6, 2028 | Common Stock | 13,886 | 13,886 | D |
Explanation of responses
- F1The restricted stock units are scheduled to vest beginning on March 20, 2019 (1,773 shares) and the balance in three installments on March 20, 2020 (1,773 shares), March 20, 2021 (1,773 shares) and March 20, 2022 (1,774 shares). Each unit converts into a share of common stock on a one-for-one basis.
- F2The options become exercisable on March 20, 2019 (3,471 shares), March 20, 2020 (3,472 shares), March 20, 2021 (3,471 shares) and March 20, 2022 (3,472 shares).
- F3The stock options are scheduled to become exercisable in four annual installments beginning on March 20, 2019 (each, a "Vesting Date"), subject to the Company's 60-trading day average closing price meeting or exceeding $44.82 (the "Performance Goal") prior to March 20, 2022. If the Performance Goal is met prior to the first Vesting Date, then all four annual installments will vest in accordance with the vesting schedule. If the Performance Goal is met subsequent to the first Vesting Date, each annual installment relating to a Vesting Date that has already occurred will automatically vest upon achievement of the Performance Goal and any remaining installments will vest in accordance with the vesting schedule. If the Performance Goal is not met by March 20, 2022, all stock options are forfeited.