Light & Wonder, Inc. — Director's Dealing 2026

Mar 8, 2026

SEC Form 4 FORM 4

Washington, D.C. 20549

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Issuer Name and Ticker or Trading Symbol 5. Relationship of Reporting Person(s) to Issuer Light & Wonder, Inc. [ ASX:LNW ] (Check all applicable) Director 10% Owner Officer (give title Other (specify below) below) 3. Date of Earliest Transaction (Month/Day/Year) 03/05/2026 President & CEO 4. If Amendment, Date of Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person Form filed by More than One Reporting Person

2. Name and Address of Reporting Person[*] Wilson Matthew R.

	(Last) (First) (Middle) LIGHT & WONDER, INC.	(Last) (First) (Middle) LIGHT & WONDER, INC.	(Last) (First) (Middle) LIGHT & WONDER, INC.	(Last) (First) (Middle) LIGHT & WONDER, INC.	(Last) (First) (Middle) LIGHT & WONDER, INC.	3. Date of Earliest Transaction (Month/Day/Year) 03/05/2026	3. Date of Earliest Transaction (Month/Day/Year) 03/05/2026
	6601 BERMUDA ROAD
						4. If Amendment, Date of Original Filed (Month/Day/Year)
(Street) LAS VEGAS		NV		89119
	(City)	(State)		(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Transaction	2A. Deemed	3.		4. Securities Acquired	4. Securities Acquired	(A) or	5. Amount of	6. Ownership	7. Nature
	Date	Execution Date,	Transaction		Disposed	Of (D) (Instr.	3, 4 and 5)	Securities	Form: Direct	of Indirect
	(Month/Day/Year) if any		Code	(Instr.				Beneficially	(D) or Indirect	Beneficial
		(Month/Day/Year)	8)					Owned Following (I) (Instr. 4)		Ownership
								Reported		(Instr. 4)
			Code	V	Amount	(A) or (D)	Price	Transaction(s) (Instr. 3 and 4)
Common Stock (1)	03/05/2026		M		6,274	A	$ 0	169,217	D
Common Stock (1)	03/05/2026		F		2,469	D	$ 92.62 (2)	166,748	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned

(e.g., puts, calls, warrants, options, convertible securities)

1. Title of	2.	3. Transaction 3A. Deemed	3. Transaction 3A. Deemed	4.	5. Number	6. Date Exercisable and	6. Date Exercisable and	7. Title and	7. Title and		8. Price of	8. Price of	9. Number	of 10.	11. Nature
Derivative	Conversion	Date	Execution Date,	Transaction	of	Expiration Date		Amount of			Derivative		derivative	Ownership	of Indirect
Security	or Exercise	(Month/Day/Year) if any		Code (Instr.	Derivative	(Month/Day/Year)		Securities			Security		Securities	Form:	Beneficial
(Instr. 3)	Price of		(Month/Day/Year)	8)	Securities			Underlying			(Instr.	5)	Beneficially Direct (D)		Ownership
	Derivative				Acquired			Derivative Security					Owned	or Indirect	(Instr. 4)
	Security				(A) or			(Instr. 3 and		4)			Following	(I) (Instr. 4)
					Disposed								Reported
					of (D)								Transaction(s)
					(Instr. 3, 4								(Instr. 4)
					and 5)
									Amount
									or
									Number
						Date	Expiration		of
				Code V	(A) (D)	Exercisable	Date	Title	Shares
Restricted Stock Units	(3)	03/05/2026		M	6,274	(3)	(3)	Common Stock	6,274 $ 0				12,548	D

Explanation of Responses:

1. Shares are held via CHESS Depositary Interests ("CDIs"), which are units of beneficial ownership in shares of common stock of the Company that are publicly traded on the Australian Securities Exchange

2. (the "ASX") and held by CHESS Depositary Nominees Pty. Limited, a subsidiary of ASX Limited, the company that operates the ASX. Each CDI represents one fully paid share of common stock.

3. Represents the satisfaction of tax withholding obligations upon the vesting of restricted stock units. Price converted from Australian Dollars into U.S. Dollars based on an exchange rate of $1 AUD to $0.7075 USD.

4. Represents the vesting of one-third of restricted stock units granted on March 5, 2025. The balance of the award is scheduled to vest in two equal installments of 6,274 shares on March 5, 2027 and March 5, 2028. Each restricted stock unit converts into a share of common stock on a one-for-one basis.

/s/ Matthew R. Wilson

03/06/2026

** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

• If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

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