Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 47

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 47
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 of rumored or actual fundamental corporate changes and allow executives to assess potential change in control transactions objectively without regard to the potential impact on their own job security. Timing of Equity Awards While we do not maintain a separate policy on the timing of equity awards granted to our named executive officers, our longstanding practice has been to consider and approve grants of annual equity awards to our named executive officers at our February Board meeting, with the grants effective in March. We grant stock options to Board members upon joining the Board in lieu of the annual grant of RSUs. No named executive officers received grants of stock options in 2024. We do not take material nonpublic information into account when determining the timing and terms of awards nor do we timethe disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.We do not currently grant stock options to our named executive officers as part of our annual compensation program, but the Board has done so in the past and may again make such grants in the future. Tax Deductibility of Executive Compensation In implementing the Company’s executive compensation program, the Committee’s general policy is to consider any significant effects of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), which limits a public company’s tax deduction for compensation in excess of $1 million paid to named executive officers. While the Committee generally seeks to take advantage of favorable tax treatment in implementing the Company’s executive compensation program, the Committee’s ability to do so has been greatly reduced under the Tax Cuts and Jobs Act of 2017. As a result, the Committee has authorized compensation that does not qualify for tax deductibility in order to continue to provide a competitive compensation program that is aligned with stockholder interests. 33 TABLE OF CONTENTS Compensation Committee Report The Compensation Committee has reviewed and discussed the Compensation Discussion and Analysis with the Company’s management. Based on that review and discussion, the Compensation Committee has recommended to the Board that the Compensation Discussion and Analysis be included in this Proxy Statement and the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Compensation Committee Hamish McLennan, Chair
Michael Marchetti
Stephen Morro
Virginia Shanks 34

TABLE OF CONTENTS

Summary Compensation Table The table below shows the compensation of our President and Chief Executive Officer, our Chief Financial Officer and our other executive officers for 2024 who were serving as such as of December 31, 2024. These individuals are the named executive officers