Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 77

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 77
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 terms tied to our performance provide incentives for the achievement of important business objectives and promote the long-term success of the Company. In this regard, the 2003 Plan has been, and the A&R 2003 Plan will continue to be, a key element of our overall compensation program. The Board believes that the number of shares remaining available for grants under the 2003 Plan is inadequate to achieve the stated purposes of the 2003 Plan in the future. Shares Reserved and Available under Our Equity Compensation Plans Information on the total number of shares available under our existing equity compensation plans (including our 2016 Employee Stock Purchase Plan (as amended and restated, the “ESPP”)) and unissued shares deliverable under outstanding options and RSUs as of the end of the last fiscal year is presented above under the caption “Equity Compensation Plan Information”. The following table reflects the aggregate number of shares subject to outstanding equity awards (excluding the shares available under the ESPP), and the shares that would be available for future awards if stockholders approve this proposal — referred to as “overhang” — as of December 31, 2024. Because the aggregate number of shares will increase under the proposed amendment and restatement of the 2003 Plan, the level of overhang reflected in the table increases from 7.48% to 9.71% (based on awards and shares outstanding as of December 31, 2024) if stockholders approve the A&R 2003 Plan:

| ​ | Shares subject to outstanding awards(1)                | ​ | ​ | ​ | ​ |  3,454,219 | ​     | ​ |
| ​ | Shares available for future equity awards(2)           | ​ | ​ | ​ | ​ |  3,509,750 | ​     | ​ |
| ​ | New share request                                      | ​ | ​ | ​ | ​ |  2,300,000 | ​     | ​ |
| ​ | Total shares outstanding as of December 31, 2024       | ​ | ​ | ​ | ​ | 86,190,372 | ​     | ​ |
| ​ | Current percentage of shares (diluted)(3)              | ​ | ​ |   |   |            | 7.48% | ​ |
| ​ | Percentage of shares (diluted) after new share request | ​ | ​ |   |   |            | 9.71% | ​ |

(1) Includes