secwatch.observer — SEC 8-K summary
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Issuer:     Light & Wonder, Inc. (LNWO)
CIK:        0000750004
Form:       8-K
Filed at:   2024-06-13T23:59:59+00:00
Accession:  0000950157-24-000897
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Light & Wonder Board authorizes new $1B share buyback through June 2027
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- Prior $750M program exhausted; purchased 11.2M shares (11.5% of outstanding) at avg $66.72, a 28% discount to $92.35 close.
- New program authorized up to $1 billion, running through June 12, 2027, superseding prior Feb 2025 expiry.
- CEO cites strong operating performance and on-track for $1.4B Consolidated AEBITDA target by 2025.
- CFO notes net debt leverage at middle of 2.5-3.5x target range, providing capital allocation optionality.
- Repurchases may be made via open market, private transactions, or Rule 10b5-1 plans at company discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750004/000095015724000897/0000950157-24-000897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750004/000095015724000897/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950157-24-000897

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer