8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

 Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 13, 2023

Light & Wonder, Inc.

(Exact Name of Registrant as Specified in its Charter)

Nevada	001-11693	81-0422894
(State or other Jurisdiction	(Commission File Number)	(IRS Employer
of Incorporation)		Identification No.)

6601 Bermuda Road, Las Vegas, NV 89119

(Address of principal executive offices)

(702) 897-7150

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, $.001 par value	LNW	The NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act. ☐

Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective December 13, 2023, Light & Wonder, Inc. (the “Company”) appointed Oliver Chow as the Company’s Executive Vice President, Chief Financial Officer (“CFO”) and Treasurer. Mr. Chow has served as interim CFO since August 25, 2023.

In connection with Mr. Chow’s appointment, Mr. Chow will (i) receive an annual base salary of $625,000; (ii) receive an annual target bonus opportunity of 75% of his base salary; and (iii) be eligible for annual equity awards with an aggregate grant date fair value of 175% of his base salary.

Item 7.01  Regulation FD Disclosure.

On December 13, 2023 the Company issued a press release announcing the appointment of Mr. Chow as permanent Executive Vice President, CFO and Treasurer, effective December 13, 2023. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 7.01 as well as in Exhibit 99.1 is furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01.  Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release of the Company, dated December 13, 2023.
104	Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LIGHT & WONDER, INC.
By:	/s/ James Sottile
	Name:	James Sottile
	Title:	Executive Vice President, Chief Legal Officer and Corporate Secretary

Date: December 13, 2023

EX-99.1

Exhibit 99.1

Light & Wonder Names Oliver Chow Chief Financial Officer

Chow Served as Interim CFO Since August 2023

LAS VEGAS – Dec. 13, 2023 – Light & Wonder, Inc. (NASDAQ and ASX: LNW) (“Light & Wonder,” “L&W” or the “Company”) announced today that Oliver Chow has been appointed as the Company’s Executive Vice President, Chief Financial Officer, and Treasurer. He has served as Interim CFO since August 2023 and previously served as the Company’s Senior Vice President of Corporate Finance.

Matt Wilson, Chief Executive Officer of Light & Wonder, said, “After a thorough search by the Board and the leadership team, I’m pleased to appoint Oliver as our CFO. Over the last four months, we’ve all been impressed with Oliver’s ability to seamlessly step into the role of Chief Financial Officer. With more than 15 years of entertainment and gaming leadership experience and deep financial expertise, Oliver was the candidate best positioned to lead us forward. His attention to detail, combined with his willingness to take on a wider variety of challenges within the organization with ease, has made us resolute in our decision.”

“It is a privilege to be appointed as Light & Wonder’s CFO,” said Oliver Chow. “I’m excited to work with the Company’s leadership and Board to execute on our clear strategy and build on our strong financial profile. I am looking forward to supporting the organization to further enable growth, margin expansion, and financial execution.”

Prior to joining Light & Wonder in October 2022, Oliver spent five years in senior-level finance roles at Aristocrat, most recently serving as Chief Financial Officer - Americas, EMEA and Customer Experience. Previously, he served in various financial roles with Universal Pictures, Deluxe Entertainment Services and JPMorgan Chase. He is also a current Board member of United Way of Southern Nevada, where he serves as Board Treasurer. Oliver received a BS in Business Administration from the University at Albany, SUNY and an Executive MBA from the UCLA Anderson School of Management.

About Light & Wonder, Inc.

Light & Wonder, Inc. is the leading cross-platform global games company. Through our three unique, yet highly complementary businesses, we deliver unforgettable experiences by combining the exceptional talents of our 6,000+ member team, with a deep understanding of our customers and players. We create immersive content that forges lasting connections with players, wherever they choose to engage. At Light & Wonder, it’s all about the games. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more visit www.lnw.com.

Media Inquiries

Andy Fouché, Vice President of Corporate Communications

+1 206 697 3678

afouche@lnw.com

Investor Inquiries

Nick Zangari, Senior Vice President of Investor Relations

+1 702 301 4378

ir@lnw.com

XML

Document and Entity Information	Dec. 13, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Dec. 13, 2023
Entity File Number	001-11693
Entity Registrant Name	Light & Wonder, Inc.
Entity Central Index Key	0000750004
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	81-0422894
Entity Address, Address Line One	6601 Bermuda Road
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89119
City Area Code	702
Local Phone Number	897-7150
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	LNW
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false