Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 23

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 23
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. Odell and Ms. Korsanos. Prior to being elected to the Board, Mr. Odell and Ms. Korsanos served as consultants to the Company and were compensated for such services pursuant to their consulting agreements with the Company. Since Mr. Odell and Ms. Korsanos were expected to continue to provide such services following their election to the Board, and such services were expected to increase, it was determined that Mr. Odell and Ms. Korsanos should continue to be compensated for their consulting services to the Company and should not participate in the Eligible Director compensation program. Mr. Odell and Ms. Korsanos therefore receive annual consulting fees of $900,000 and $600,000, respectively, and do not receive any cash retainers or annual equity grants under the Eligible Director compensation program. In addition, in recognition of the value of the consulting services provided by Mr. Odell and Ms. Korsanos and the value unlocked by the acquisition in October 2020 by a group of long-term institutional investors of a 34.9% stake in the Company from MacAndrews & Forbes Incorporated, in which Mr. Odell and Ms. Korsanos played critical roles, and to further align their interests with stockholders and drive stock price growth, each of Mr. Odell and Ms. Korsanos received a one-time grant of 662,933 stock options. Vesting of these stock options was subject to achieving one or more stock price hurdles or continued service through a specified date. Since the stock price hurdles were achieved, all of the stock options are vested. In 2023, following a review by CAP of Mr. Odell’s and Ms. Korsanos’s consulting fees in light of the significant increase in the Consumer Price Index since they entered into their fixed-fee consulting agreements in 2020, each of Mr. Odell and Ms. Korsanos received a grant of 6,413 and 4,252 RSUs, respectively, in lieu of increased consulting fees plus a grant of 10,000 RSUs in exchange for agreeing to a three-year extension of their consulting agreements. Each of the foregoing RSU awards, which were granted on December 11, 2023, have vested as to one-third of the award and the remainder will vest in two substantially equal installments on October 1 of each of 2025 and 2026. Director Compensation for 2024 . The table below shows the compensation earned by each of our