What execution mechanism did Light & Wonder use for these repurchases?

The filing does not specify the execution mechanism (Rule 10b-18 open-market purchases, accelerated share repurchase, or other method). The company simply reports total shares repurchased and aggregate consideration, without disclosing the purchase method.

Why did the company pause buybacks on June 29, 2026?

Light & Wonder paused purchases ahead of the Q2 FY26 blackout period in accordance with its Securities Trading Policy. This is standard practice to avoid trading while in possession of material non-public information before earnings release.

How much authorization does the company have left?

As of July 1, 2026, Light & Wonder had approximately US$180 million remaining under its ongoing share repurchase program. This suggests the program has substantial capacity to continue repurchases going forward.

Is this buyback linked to the company's deleveraging goals?

Yes. The filing states that continuation of share repurchases is subject to achieving the company's deleveraging targets toward mid-point leverage ratios by end of 2026 and below 3.0x by H1 2027. This makes buybacks conditional on progress toward debt-reduction priorities.

What was the average price paid per CDI?

The company repurchased 1,612,580 CDIs for US$134 million, implying an average price of approximately US$83.06 per CDI during Q2 FY26.

What is a CDI and why does Light & Wonder use them?

A CDI (Chess Depository Interest) is the Australian equivalent of a share, used by companies listed on the ASX. Light & Wonder is cross-listed in both the U.S. and Australia, and reports repurchases in CDI terms for consistency with its Australian listing.

LNWO 8-K Filed 2026-07-13 Execution disclosure

Light & Wonder repurchased 1.6M CDIs in Q2 FY26

Company paused program ahead of blackout; $180M remains under authorization.

Shares repurchased1.6M

Avg price paid$83.06

Remaining$180M

MechanismNot specified

What the filing says

Light & Wonder, Inc. (LNWO) reported execution of its ongoing share repurchase program during the second quarter of fiscal 2026. The company repurchased 1,612,580 CDIs (CHESS Depository Interests, the Australian equivalent of shares) for total consideration of approximately US$134 million, representing an average price of approximately US$83.06 per CDI.

As of July 1, 2026, the company had approximately US$180 million remaining under its share repurchase program. The company paused purchases under the program on June 29, 2026, ahead of the Q2 FY26 blackout period in accordance with the company's Securities Trading Policy. The repurchase update was disclosed in a July 13, 2026 8-K filing released in conjunction with the company's second-quarter investor conference call announcement.

The company remains committed to deleveraging its balance sheet toward the mid-point of its targeted net debt leverage ratio range over the course of 2026, with a goal of achieving below 3.0x leverage during the first half of 2027. The continuation of share repurchases is contingent on continued execution of the company's capital allocation strategy.

The Company has a total of approximately US$180 million remaining under its ongoing share repurchase program, and as of July 1, 2026, the total number of shares outstanding (including common stock and CDIs) was 77,049,181. This follows 1,612,580 CDIs repurchased during Q2 FY26 for total consideration of approximately US$134 million. — Light & Wonder, Inc. 8-K filing · View on SEC EDGAR →

What this means

Light & Wonder executed US$134 million in share repurchases during Q2 2026, reducing the outstanding share count by approximately 2.1%. The company retains US$180 million in buyback authorization, suggesting its board-approved program has substantial runway remaining. The temporary pause ahead of blackout periods reflects standard trading-restriction compliance. With the company targeting below 3.0x net debt leverage by early 2027, further buybacks appear contingent on progress toward deleveraging goals, balancing capital return with debt reduction priorities in a leveraged balance sheet.

Frequently asked questions

What execution mechanism did Light & Wonder use for these repurchases?: The filing does not specify the execution mechanism (Rule 10b-18 open-market purchases, accelerated share repurchase, or other method). The company simply reports total shares repurchased and aggregate consideration, without disclosing the purchase method.
Why did the company pause buybacks on June 29, 2026?: Light & Wonder paused purchases ahead of the Q2 FY26 blackout period in accordance with its Securities Trading Policy. This is standard practice to avoid trading while in possession of material non-public information before earnings release.
How much authorization does the company have left?: As of July 1, 2026, Light & Wonder had approximately US$180 million remaining under its ongoing share repurchase program. This suggests the program has substantial capacity to continue repurchases going forward.
Is this buyback linked to the company's deleveraging goals?: Yes. The filing states that continuation of share repurchases is subject to achieving the company's deleveraging targets toward mid-point leverage ratios by end of 2026 and below 3.0x by H1 2027. This makes buybacks conditional on progress toward debt-reduction priorities.
What was the average price paid per CDI?: The company repurchased 1,612,580 CDIs for US$134 million, implying an average price of approximately US$83.06 per CDI during Q2 FY26.
What is a CDI and why does Light & Wonder use them?: A CDI (Chess Depository Interest) is the Australian equivalent of a share, used by companies listed on the ASX. Light & Wonder is cross-listed in both the U.S. and Australia, and reports repurchases in CDI terms for consistency with its Australian listing.

execution mega-cap gaming-sector deleveraging cross-listed

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.