Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 81

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 81
---
 shares represents 2.71% of common shares outstanding as of the record date. We anticipate that the 2,300,000 additional shares plus the shares currently available will be sufficient to fund grants for three to four years, but this period may be longer or shorter depending on the future price performance of our common stock. THE BOARD RECOMMENDS A VOTE “FOR” THE APPROVAL OF AN AMENDMENT AND RESTATEMENT OF THE 2003 INCENTIVE COMPENSATION PLAN, AS AMENDED AND RESTATED 61 TABLE OF CONTENTS Description of the A&R 2003 Plan The principal terms of the A&R 2003 Plan are summarized below. The following summary is qualified in its entirety by the full text of the A&R 2003 Plan, a copy of which is attached as Appendix B. The amendment and restatement of the 2003 Plan would increase the number of shares reserved under the 2003 Plan by 2,300,000 shares. The amendment and restatement of the 2003 Plan also reflects updates to remove provisions that are no longer relevant or to align with market practice (e.g., eliminate certain share recycling provisions). You may obtain a copy of the A&R 2003 Plan free of charge by writing to the Corporate Secretary, Light & Wonder Inc., 6601 Bermuda Road, Las Vegas, Nevada 89119. If stockholders decline to approve the proposed amendment and restatement of the 2003 Plan, the 2003 Plan as previously approved by stockholders would remain in effect. Overview of A&R 2003 Plan Awards. The A&R 2003 Plan authorizes a broad range of awards, including: • stock options; • SARs; • restricted stock, or a grant of actual shares subject to a risk of forfeiture and restrictions on transfer; • deferred stock, or a contractual commitment to deliver shares at a future date, which may or may not be subject to a risk of forfeiture (shares of forfeitable deferred stock are often called RSUs); • performance shares or other stock-based performance awards (these include deferred stock or restricted stock awards that may be earned by achieving specific performance objectives); • other awards based on common stock; • dividend equivalents; • cash-based performance awards tied to achievement of specific performance objectives; and • shares issuable in lieu of rights to cash compensation. Restriction on Repricing. The A&R 2003 Plan includes a restriction providing that, without stockholder approval, the Company will not amend or replace options