Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 38

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 38
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 business. The target annual equity award opportunities for 2024 are shown below:

| Executive   | ​ | ​ | Target Equity AwardOpportunity for 2024(% of Salary) |   |      |   | ​ |
| Mr. Wilson  | ​ | ​ | ​                                                    | ​ | 300% | ​ | ​ |
| Mr. Chow    | ​ | ​ | ​                                                    | ​ | 175% | ​ | ​ |
| Mr. Sottile | ​ | ​ | ​                                                    | ​ | 175% | ​ | ​ |
| Ms. Lane    | ​ | ​ | ​                                                    | ​ | 200% | ​ | ​ |

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TABLE OF CONTENTS

For the 2024 grants, the Company set the proportion of performance-conditioned awards to half of the executive’s total target award value. All awards were granted in the form of RSUs. Half of the performance-conditioned awards vest subject to the Company’s achievement of total shareholder return targets relative to the S&P 400 (“TSR RSUs”). The other half of the performance-conditioned awards vest subject to the Company’s achievement of certain Consolidated AEBITDA targets (“AEBITDA RSUs”). The combination of TSR RSUs and AEBITDA RSUs is designed to incentivize achievement of long-term financial goals and strong stock price performance above that of the broader market. Performance-conditioned awards pay out at 50% of target if threshold performance is achieved, and the maximum payout (100% of target) occurs if target performance is achieved. There is no additional payout for performance above target. Information regarding the 2024 annual equity awards is set forth below:

| Executive   | ​ | ​ | Date of Grants |   |            |   | ​ | ​ | Time-VestingRSUs(1) |   |        |   | ​ | ​ | TSR RSUs(2) |   |       |   | ​ | ​ | AEBITDARSUs(2) |   |       |   | ​ |
| Mr. Wilson  | ​ | ​ | ​              | ​ | 03/20/2024 | ​ | ​ | ​ | ​                   | ​ | 19,540 | ​ | ​ | ​ | ​           | ​ | 9,770 | ​ | ​ | ​ | ​              | ​ | 9,770 | ​ | ​ |
| Mr. Chow    | ​ | ​ | ​              | ​ |