SEC Form 4 · accession 0000750004-18-000189
Light & Wonder, Inc. · ASX:LNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Sottile
Officer — Exec VP & Chief Legal Officer
Period of report
Sep 4, 2018
Accepted (ET)
Sep 6, 2018 · 4:34 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 | — | Sep 4, 2018 | A | 6,594 | A | — | — | Common Stock | 6,594 | 6,594 | D |
| Restricted Stock UnitsF2 | — | Sep 4, 2018 | A | 2,687 | A | — | — | Common Stock | 2,687 | 2,687 | D |
| Employee Stock Option (right to buy)F3 | $30.33 | Sep 4, 2018 | A | 5,006 | A | — | Sep 3, 2028 | Common Stock | 5,006 | 5,006 | D |
| Employee Stock Option (right to buy)F4 | $30.33 | Sep 4, 2018 | A | 5,006 | A | — | Sep 3, 2028 | Common Stock | 5,006 | 5,006 | D |
Explanation of responses
- F1The restricted stock units are scheduled to vest in three equal annual installments beginning on August 31, 2019. Each unit converts into a share of common stock on a one-for-one basis.
- F2The restricted stock units are scheduled to vest in four installments on March 20, 2019 (671 shares), March 20, 2020 (672 shares), March 20, 2021 (672 shares) and March 20, 2022 (672 shares). Each unit converts into a share of common stock on a one-for-one basis.
- F3The stock options become exercisable in four installments on March 20, 2019 (1,251 shares), March 20, 2020 (1,252 shares), March 20, 2021 (1,251 shares) and March 20, 2022 (1,252 shares).
- F4The 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 $36.40 (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.