Company: LAWIL
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-041831
Chunk: 40

Company: Light & Wonder, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 40
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 of performance achieved under the performance-conditioned RSUs granted in 2022, which consisted of half AEBITDA RSUs and half TSR RSUs. The table below sets forth the threshold and target performance levels for the AEBITDA RSUs and the TSR RSUs, as well as actual performance and the payout levels for each. Performance below the threshold performance level would result in no payout, performance between the threshold and target performance levels would result in a payout determined based on linear interpolation and performance above the target level would only result in payout at target.

| ​               | ​ | ​ | Threshold(50% payout)               | ​ | ​ | Target(100% Payout)                 | ​ | ​ | ActualPerformance                   | ​ | ​ | Payout % |   |        |   | ​ |
| AEBITDA RSUs(1) | ​ | ​ | $964 million                        | ​ | ​ | $1,303 million                      | ​ | ​ | $1,244 million                      | ​ | ​ | ​        | ​ | 91.3%  | ​ | ​ |
| Relative TSR    | ​ | ​ | 30thpercentile ofS&P 400 averageTSR | ​ | ​ | 55thpercentile ofS&P 400 averageTSR | ​ | ​ | 71stpercentile ofS&P 400 averageTSR | ​ | ​ | ​        | ​ | 100.0% | ​ | ​ |

(1) The performance metric for the AEBITDA RSUs is Consolidated AEBITDA, as reported in our earnings release, subject to further adjustments (“RSU AEBITDA”). Refer to Appendix A for reconciliation of RSU AEBITDA, which is a non-GAAP financial measure.

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TABLE OF CONTENTS

The table below reflects the number of AEBITDA RSUs and TSR PSUs that vested for each of the named executive officers based on performance achieved.

| Executive   | ​ | ​ | AEBITDARSUs Vested |   |       |   | ​ | ​ | TSRRSUs Vested |   |       |   | ​ |
| Mr. Wilson  | ​ | ​ | ​                  | ​ | 5,751 | ​ | ​ | ​ | ​              | ​ | 6,300 | ​ | ​ |
| Mr. Chow(1) | ​ | ​ | ​                  | ​ |     — | ​ |