| Dated: April 24, 2024 | | | By Order of the Board of Directors | |
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James Sottile
Executive Vice President, Chief Legal Officer and Corporate Secretary
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| | | | | A-1 | | |
Proposal
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Board’s
Recommendation |
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Proposal 1:
Election of Directors (page 4)
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FOR each Nominee
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The Board and the Nominating and Corporate Governance Committee believe that the nine director nominees possess a combination of qualifications, experience and judgment necessary for a well-functioning Board and the effective oversight of the Company.
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Proposal 2:
Approval, on an Advisory Basis, of the Compensation of the Company’s Named Executive Officers (page 57)
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FOR
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The Company has designed its executive compensation program to attract and retain executive talent, foster excellent business performance and align compensation with the long-term interests of our stockholders. The Board and the Compensation Committee value stockholders’ opinions and will take into account the outcome of the advisory vote when considering future executive compensation decisions.
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Proposal 3:
Ratification of the Appointment of Deloitte & Touche LLP (“Deloitte”) as the Company’s Independent Registered Public Accounting Firm (page 60)
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FOR
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The Audit Committee has appointed Deloitte to serve as our independent registered public accounting firm for the fiscal year ending December 31, 2024. As a matter of good corporate governance, stockholders are being asked to ratify the Audit Committee’s appointment of Deloitte.
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| | | |
Name
|
| |
Age
|
| |
Position with the Company
|
| |
Director Since
|
|
Jamie R. Odell | | |
65
|
| |
Director (Executive Chair)
|
| |
2020
|
|
Matthew R. Wilson | | |
42
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| |
Director; President and Chief Executive Officer
|
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2022
|
|
Antonia Korsanos | | |
54
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| |
Director (Executive Vice Chair)
|
| |
2020
|
|
Michael Marchetti | | |
55
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| |
Director
|
| |
2024
|
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Hamish R. McLennan | | |
57
|
| |
Director
|
| |
2020
|
|
Stephen Morro | | |
65
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| |
Director
|
| |
2022
|
|
Virginia E. Shanks | | |
63
|
| |
Director
|
| |
2021
|
|
Timothy Throsby | | |
57
|
| |
Director
|
| |
2020
|
|
Kneeland C. Youngblood | | |
68
|
| |
Director
|
| |
2018
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|
Corporate Governance Highlights
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| |||
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•
Annual election of all directors
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| |
•
Code of Business Conduct (and related training)
|
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|
•
Six independent director nominees
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•
Director and officer stock ownership guidelines
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|
•
Entirely independent Board committees
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| |
•
Executive compensation based on pay-for-performance philosophy
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|
|
•
Regular executive sessions of independent directors
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| |
•
Cash and equity compensation clawback policies
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|
|
•
Separate Executive Chair and Chief Executive Officer roles
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| |
•
Anti-hedging and anti-pledging policies for Company stock
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|
•
Lead Independent Director
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| |
•
Stockholder right to call special meetings
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•
Regular Board and committee self-evaluations
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| |
•
Stockholder right to act by written consent
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|
•
Risk management oversight by the Board and committees
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| |
•
Absence of an “anti-takeover” rights plan and other “anti-takeover” provisions
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|
•
Consideration of diversity in decisions regarding Board composition
|
| |
•
Board oversight of diversity, equity and inclusion initiatives
|
|
|
•
Cybersecurity oversight by the Board
|
| |
•
Human capital oversight by the Board and Compensation Committee
|
|
|
•
Oversight of environmental matters, including climate-related risk, by the Board and Nominating and Corporate Governance Committee
|
| | | |
Board Diversity Matrix
(as of April 11, 2024) |
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Total Number of Directors
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| |
11
|
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| | |
Female
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Male
|
| |
Non-Binary
|
| |
Not
Disclosed |
| ||||||||||||
Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 3 | | | | | | 8 | | | | | | — | | | | | | — | | |
Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | — | | | | | | 1 | | | | | | — | | | | | | | | |
Alaskan Native or Native American
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
Asian
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
Hispanic or Latinx
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
Native Hawaiian or Pacific Islander
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
White
|
| | | | 2 | | | | | | 6 | | | | | | — | | | | | | | | |
Two or More Races or Ethnicities
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
LGBTQ+
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
Demographic background not disclosed
|
| |
2
|
|
Audit Committee
|
| |
Compensation Committee
|
| |
Compliance Committee
|
| |
Nominating and
Corporate Governance Committee |
|
Michael J. Regan (Chair)
|
| |
Hamish R. McLennan (Chair)
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Stephen Morro (Chair)
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| |
Kneeland C. Youngblood (Chair)
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|
Michael Marchetti | | |
Stephen Morro
|
| |
Virginia Shanks
|
| |
Hamish R. McLennan
|
|
Timothy Throsby | | |
Virginia Shanks
|
| |
Timothy Throsby
|
| |
Michael J. Regan
|
|
Maria T. Vullo | | |
Kneeland C. Youngblood
|
| |
Kneeland C. Youngblood
|
| |
Maria T. Vullo
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|
| | | | | |
Patricia Becker
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Name
|
| |
Fees Earned or
Paid in Cash ($) |
| |
Stock Awards
($)(1) |
| |
Total
($) |
| |||||||||
Jamie R. Odell(4)
|
| | | | 900,000(2) | | | | | | 1,384,519 | | | | | | 2,284,519 | | |
Antonia Korsanos(4)
|
| | | | 600,000(2) | | | | | | 1,202,228 | | | | | | 1,802,228 | | |
Kneeland C. Youngblood
|
| | | | 185,000(3)(5) | | | | | | 209,957 | | | | | | 394,957 | | |
Hamish R. McLennan
|
| | | | 120,822(3) | | | | | | 209,957 | | | | | | 330,779 | | |
Stephen Morro
|
| | | | 120,822(3) | | | | | | 209,957 | | | | | | 330,779 | | |
Michael J. Regan
|
| | | | 135,000(3) | | | | | | 209,957 | | | | | | 344,957 | | |
Virginia Shanks
|
| | | | 110,000(3) | | | | | | 209,957 | | | | | | 319,957 | | |
Timothy Throsby
|
| | | | 115,000(3) | | | | | | 209,957 | | | | | | 324,957 | | |
Maria T. Vullo
|
| | | | 115,000(3) | | | | | | 209,957 | | | | | | 324,957 | | |
Name
|
| |
Stock Options
(in shares) |
| |
RSUs
|
| ||||||
Jamie R. Odell
|
| | | | 677,933(1) | | | | | | 16,413(2) | | |
Antonia Korsanos
|
| | | | 677,933(1) | | | | | | 14,252(2) | | |
Kneeland C. Youngblood
|
| | | | 10,000(3) | | | | | | 5,413(4) | | |
Hamish McLennan
|
| | | | 10,000(3) | | | | | | 3,320(5) | | |
Stephen Morro
|
| | | | 10,000(3) | | | | | | 3,320(5) | | |
Michael J. Regan
|
| | | | — | | | | | | 5,413(4) | | |
Virginia Shanks
|
| | | | 10,000(3) | | | | | | 3,320(5) | | |
Timothy Throsby
|
| | | | 10,000(3) | | | | | | 3,320(5) | | |
Maria T. Vullo
|
| | | | 10,000(3) | | | | | | 5,413(4) | | |
Shares of Common Stock of the Company
|
| ||||||||||||
Name and Address of Beneficial Owner
|
| |
Number(1)
|
| |
Percent(1)
|
| ||||||
BlackRock, Inc.
55 East 52nd Street New York, New York 10055 |
| | |
|
10,951,401(2)
|
| | | |
|
12.1%
|
| |
| | | | | | | | | | | | ||
The Vanguard Group – 23-1945930
100 Vanguard Blvd. Malvern, PA 19355 |
| | |
|
9,128,510(3)
|
| | | |
|
10.1%
|
| |
Caledonia (Private) Investments Pty Limited
Level 10, 131 Macquarie Street Sydney, NSW, 2000, Australia |
| | |
|
8,529,064(4)
|
| | | |
|
9.4%
|
| |
| | | | | | | | | | | | ||
Fine Capital Partners, L.P.
1350 Avenue of the Americas, Suite 1610 New York, New York 10019 |
| | |
|
8,465,409(5)
|
| | | |
|
9.4%
|
| |
| | | | | | | | | | | | ||
Jamie R. Odell
|
| | |
|
697,933(6)
|
| | | |
|
*
|
| |
Matthew R. Wilson
|
| | |
|
151,185
|
| | | |
|
*
|
| |
Antonia Korsanos
|
| | |
|
688,104(7)
|
| | | |
|
*
|
| |
Siobhan Lane
|
| | |
|
21,254
|
| | | |
|
*
|
| |
Michael Marchetti
|
| | |
|
1,000
|
| | | |
|
*
|
| |
Hamish R. McLennan
|
| | |
|
51,873(8)
|
| | | |
|
*
|
| |
Stephen Morro
|
| | |
|
12,756
|
| | | |
|
*
|
| |
Michael J. Regan
|
| | |
|
90,123
|
| | | |
|
*
|
| |
Virginia E. Shanks
|
| | |
|
12,160
|
| | | |
|
*
|
| |
Timothy Throsby
|
| | |
|
27,423
|
| | | |
|
*
|
| |
Maria T. Vullo
|
| | |
|
26,202
|
| | | |
|
*
|
| |
Kneeland C. Youngblood
|
| | |
|
26,005
|
| | | |
|
*
|
| |
Constance P. James(9)
|
| | |
|
30,112
|
| | | |
|
*
|
| |
James Sottile
|
| | |
|
73,868
|
| | | |
|
*
|
| |
Oliver Chow
|
| | |
|
1,947
|
| | | |
|
*
|
| |
All current directors and executive officers as a group (consisting of
14 persons)(10) |
| | |
|
1,911,945
|
| | | |
|
2.1%
|
| |
Executive
|
| |
Position
|
|
Matthew Wilson | | | President and Chief Executive Officer | |
Oliver Chow(1) | | | Executive Vice President, Chief Financial Officer and Treasurer | |
Constance P. James(1) | | | Former Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary | |
James Sottile | | | Executive Vice President, Chief Legal Officer and Corporate Secretary | |
Siobhan Lane | | | Executive Vice President and Group Chief Executive, Gaming | |
Executive
|
| |
At-Risk Pay(1)
|
| |||
Mr. Wilson
|
| | | | 81% | | |
Other Current Named Executive Officers(2)
|
| | | | 77% | | |
|
Annual Bonus Achievement as a % of Target Bonus Opportunity
|
| ||||||||||||
|
Executive Officers with Company-wide Responsibilities
|
| ||||||||||||
|
2019
|
| |
2020
|
| |
2021
|
| |
2022
|
| |
2023
|
|
|
20.0%
|
| |
25.0%
|
| |
139.9%
|
| |
109.3%(1)
|
| |
114.1%
|
|
Element of Compensation
|
| |
Rationale
|
| |
Linkage to Compensation Objective
|
|
Base Salary | | |
•
Provides fixed level of compensation
|
| |
•
Attracts and retains executive talent
|
|
Annual Incentive Compensation | | |
•
Target level of annual incentive compensation provides an attractive total incentive opportunity that incentivizes achievement of the Company’s financial goals by tying payouts to Company financial performance, with actual annual incentive compensation payouts depending upon Company and, in certain circumstances, individual performance
|
| |
•
Fosters excellent business performance
•
Aligns executive and stockholder interests by linking all or a portion of compensation to the annual performance of the Company
•
Attracts and retains executive talent
|
|
Long-Term Incentive Compensation (time- and performance-vesting RSUs) | | |
•
Target level of long-term incentive compensation provides a market-competitive equity opportunity
•
Vesting of one-half of equity awards is conditioned upon achievement of a financial performance target or share price appreciation relative to a market index to align executive pay with stockholder interests
•
Time-vesting RSUs promote executive retention
|
| |
•
Aligns executive and stockholder interests by linking a portion of compensation to long-term Company performance
•
Fosters excellent business performance that creates value for stockholders
•
Attracts and retains executive talent
•
Encourages long-term service
|
|
Severance and Change of Control Protections | | |
•
Severance provisions under employment agreements provide benefits to ease an employee’s transition in the event of an unexpected employment termination by the Company due to changes in the Company’s employment needs
•
Change in control protections encourage employees to remain focused on the best interests of the Company in the event of rumored or actual fundamental corporate changes
|
| |
•
Attracts and retains executive talent
•
Encourages long-term service
|
|
Executive
|
| |
Threshold Annual Bonus
Opportunity (% of Base Salary) |
| |
Target Annual Bonus
Opportunity (% of Base Salary) |
| |
Maximum Annual Bonus
Opportunity (% of Base Salary) |
| |||||||||
Mr. Wilson
|
| | | | 25% | | | | | | 100% | | | | | | 200% | | |
Mr. Chow
|
| | |
|
(1)
|
| | | |
|
(1)
|
| | | |
|
(1)
|
| |
Ms. James(2) | | | | | 19% | | | | | | 75% | | | | | | 150% | | |
Mr. Sottile
|
| | | | 19% | | | | | | 75% | | | | | | 150% | | |
Ms. Lane
|
| | | | 19% | | | | | | 75% | | | | | | 150% | | |
| | |
Annual Bonus Payout as
Percentage of Target Award |
| ||||||||||||||||||||||||||||||||||||
| | | | | |
Threshold
25% |
| |
Target
100% |
| |
110%
|
| |
125%
|
| |
175%
|
| |
Max
200% |
| ||||||||||||||||||
LWICP Revenue
|
| |
Target ($) (millions)
|
| | | $ | 2,380 | | | | | $ | 2,800 | | | | | $ | 2,940 | | | | | $ | 3,080 | | | | | $ | 3,360 | | | | | $ | 3,640 | | |
| % of Target | | | | | 85% | | | | | | 100% | | | | | | 105% | | | | | | 110% | | | | | | 120% | | | | | | 130% | | | ||
LWICP AEBITDA
|
| |
Target ($) (millions)
|
| | | $ | 837 | | | | | $ | 985 | | | | | $ | 1,034 | | | | | $ | 1,084 | | | | | $ | 1,182 | | | | | $ | 1,281 | | |
| % of Target | | | | | 85% | | | | | | 100% | | | | | | 105% | | | | | | 110% | | | | | | 120% | | | | | | 130% | | |
| | |
Annual Bonus Payout as
Percentage of Target Award |
| ||||||||||||||||||||||||||||||||||||
| | | | | |
Threshold
25% |
| |
Target
100% |
| |
110%
|
| |
125%
|
| |
175%
|
| |
Max
200% |
| ||||||||||||||||||
LWICP Revenue
|
| |
Target ($) (millions)
|
| | | $ | 1,530 | | | | | $ | 1,800 | | | | | $ | 1,890 | | | | | $ | 1,980 | | | | | $ | 2,160 | | | | | $ | 2,340 | | |
| % of Target | | | | | 85% | | | | | | 100% | | | | | | 105% | | | | | | 110% | | | | | | 120% | | | | | | 130% | | | ||
LWICP AEBITDA
|
| |
Target ($) (millions)
|
| | | $ | 730 | | | | | $ | 859 | | | | | $ | 902 | | | | | $ | 945 | | | | | $ | 1,031 | | | | | $ | 1,117 | | |
| % of Target | | | | | 85% | | | | | | 100% | | | | | | 105% | | | | | | 110% | | | | | | 120% | | | | | | 130% | | |
| | |
2023
($ millions) |
| | | | | | | | | | | | | | | | | | | | | | | | | |||||||||
| | |
100%
Target Achievement (100% payout) |
| |
LWICP
Results(1) |
| |
Results
(% of Target Achievement) |
| |
Payout %
|
| |
Consolidated
Weighted Payout (% of Target Bonus)(2) |
| |
Gaming
Weighted Payout (% of Target Bonus)(3) |
| ||||||||||||||||||
LWICP Revenue
|
| | | $ | 2,800 | | | | | $ | 2,902 | | | | | | 103.6% | | | | | | 107.3% | | | | | | 53.7% | | | | | | 26.9% | | |
LWICP AEBITDA
|
| | | $ | 985 | | | | | $ | 1,070(4) | | | | | | 108.6% | | | | | | 120.9% | | | | | | 60.4% | | | | | | 30.2% | | |
Gaming LWICP Revenue
|
| | | $ | 1,800 | | | | | $ | 1,850 | | | | | | 102.8% | | | | | | 105.6% | | | | | | N/A | | | | | | 26.4% | | |
Gaming LWICP AEBITDA
|
| | | $ | 859 | | | | | $ | 894(4) | | | | | | 104.1% | | | | | | 108.0% | | | | | | N/A | | | | | | 27.0% | | |
| | | | | | | | |
Weighted Total:
|
| | | | | | | | | | 114.1% | | | | | | 110.5% | | |
Executive
|
| |
Actual Annual
Bonus Award(1) |
| |
Award Paid as
a % of Target Annual Bonus Opportunity |
| |
Award Paid as
a % of End of Year Base Salary |
| |||||||||
Mr. Wilson
|
| | | $ | 1,483,300 | | | | | | 114.1% | | | | | | 114.1% | | |
Mr. Chow(2) | | | | $ | 214,797 | | | | | | 114.1% | | | | | | 34.4% | | |
Ms. James(3) | | | | | — | | | | | | — | | | | | | — | | |
Mr. Sottile
|
| | | $ | 599,025 | | | | | | 114.1% | | | | | | 85.6% | | |
Ms. Lane
|
| | | $ | 621,281 | | | | | | 110.5% | | | | | | 82.8% | | |
Executive
|
| |
Target Equity Award Opportunity for 2023
(% of Salary) |
| |||
Mr. Wilson
|
| | | | 300% | | |
Mr. Chow(1) | | | | | 75% | | |
Ms. James(2) | | | | | 200% | | |
Mr. Sottile
|
| | | | 175% | | |
Ms. Lane
|
| | | | 200% | | |
Executive
|
| |
Date of Grants
|
| |
Time-Vesting
RSUs(1) |
| |
TSR RSUs(2)
|
| |
AEBITDA RSUs(2)
|
| ||||||||||||
Mr. Wilson
|
| | | | 03/24/2023 | | | | | | 34,099 | | | | | | 17,049 | | | | | | 17,049 | | |
Mr. Chow
|
| | | | 03/24/2023 | | | | | | 2,131 | | | | | | 1,065 | | | | | | 1,065 | | |
Ms. James(3) | | | | | 03/24/2023 | | | | | | 13,115 | | | | | | 6,557 | | | | | | 6,557 | | |
Mr. Sottile
|
| | | | 03/24/2023 | | | | | | 10,710 | | | | | | 5,355 | | | | | | 5,355 | | |
Ms. Lane
|
| | | | 03/24/2023 | | | | | | 13,115 | | | | | | 6,557 | | | | | | 6,557 | | |
| | |
Threshold
(50% payout) |
| |
Target
(100% Payout) |
| |
Actual Performance
|
| |
Payout %
|
|
AEBITDA RSUs(1)
|
| |
$843 million
|
| |
$1,124 million
|
| |
$1,083 million
|
| |
93%
|
|
TSR RSUs
|
| |
30th percentile of
S&P 400 average TSR |
| |
55th percentile of
S&P 400 average TSR |
| |
92nd percentile of
S&P 400 average TSR |
| |
100%
|
|
Executive
|
| |
AEBITDA
RSUs Earned |
| |
TSR
RSUs Earned |
| ||||||
Mr. Wilson
|
| | | | 6,683 | | | | | | 7,186 | | |
Mr. Chow(1) | | | | | — | | | | | | — | | |
Ms. James(2) | | | | | — | | | | | | — | | |
Mr. Sottile
|
| | | | 6,237 | | | | | | 6,707 | | |
Ms. Lane
|
| | | | 2,569 | | | | | | 2,763 | | |
Job Level
|
| |
Minimum Required Ownership Interest
|
|
President and Chief Executive Officer | | |
Lesser of five times annual base salary
|
|
Chief Financial Officer and Group Chief Executives | | |
Lesser of two times annual base salary
|
|
Other Executive Officers Reporting to the President and Chief Executive Officer | | | Lesser of annual base salary | |
Name
|
| |
Ownership
Requirement (# of Shares Based on Multiple of Salary) |
| |
Ownership
(# of Shares/ Units) |
| ||||||
Mr. Wilson
|
| | | | 88,499 | | | | | | 180,632 | | |
Mr. Chow(1) | | | | | 17,019 | | | | | | 9,588 | | |
Mr. Sottile
|
| | | | 9,531 | | | | | | 95,111 | | |
Ms. Lane
|
| | | | 20,423 | | | | | | 34,333 | | |
|
•
AppLovin Corporation
•
Aristocrat Leisure Limited
•
Bally’s Corporation
•
Boyd Gaming Corporation
•
DraftKings Inc.
•
Electronic Arts Inc.
•
Everi Holdings Inc.
•
IAC Inc.
|
| |
•
International Game Technology PLC
•
Match Group
•
PENN Entertainment, Inc.
•
Playtika Holding Crop.
•
Roblox Corporation
•
Take-Two Interactive Software, Inc.
•
Wynn Resorts, Limited.
|
|
Name and Principal Position
|
| |
Year
|
| |
Salary
($)(1) |
| |
Bonus
($)(2) |
| |
Stock
Awards ($)(3) |
| |
Non-Equity
Incentive Plan Compensation ($)(4) |
| |
All Other
Compensation ($)(5) |
| |
Total
($) |
| |||||||||||||||||||||
Matthew Wilson
Chief Executive Officer |
| | | | 2023 | | | | | | 1,300,000 | | | | | | — | | | | | | 3,899,846 | | | | | | 1,483,300 | | | | | | 8,750 | | | | | | 6,691,896 | | |
| | | 2022 | | | | | | 866,347 | | | | | | — | | | | | | 1,499,904 | | | | | | 818,656 | | | | | | 9,087 | | | | | | 3,193,994 | | | ||
| | | 2021 | | | | | | 750,000 | | | | | | — | | | | | | 1,190,332 | | | | | | 826,875 | | | | | | 1,741 | | | | | | 2,768,948 | | | ||
Oliver Chow
Executive Vice President, Chief Financial Officer and Treasurer |
| | | | 2023 | | | | | | 354,231 | | | | | | 200,000 | | | | | | 596,792 | | | | | | 214,797 | | | | | | 6,563 | | | | | | 1,372,383 | | |
Constance P. James
Former Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary |
| | | | 2023 | | | | | | 504,808 | | | | | | 500,000 | | | | | | 1,499,906 | | | | | | — | | | | | | 8,799 | | | | | | 2,513,513 | | |
| | | 2022 | | | | | | 750,000 | | | | | | — | | | | | | 1,987,404 | | | | | | 614,812 | | | | | | 183,485 | | | | | | 3,535,701 | | | ||
| | | 2021 | | | | | | 543,462 | | | | | | — | | | | | | 1,245,088 | | | | | | 469,909 | | | | | | 79,892 | | | | | | 2,338,351 | | | ||
James Sottile
Executive Vice President, Chief Legal Officer and Corporate Secretary |
| | | | 2023 | | | | | | 700,000 | | | | | | — | | | | | | 1,224,903 | | | | | | 599,025 | | | | | | 91,609 | | | | | | 2,615,537 | | |
| | | 2022 | | | | | | 700,000 | | | | | | — | | | | | | 1,687,522 | | | | | | 573,826 | | | | | | 98,547 | | | | | | 3,059,895 | | | ||
| | | 2021 | | | | | | 700,000 | | | | | | — | | | | | | 1,834,714 | | | | | | 734,475 | | | | | | 75,230 | | | | | | 3,344,419 | | | ||
Siobhan Lane
Executive Vice President, Group Chief Executive, Gaming |
| | | | 2023 | | | | | | 750,000 | | | | | | — | | | | | | 1,499,906 | | | | | | 621,281 | | | | | | 67,156 | | | | | | 2,938,343 | | |
| | | 2022 | | | | | | 592,308 | | | | | | — | | | | | | 824,948 | | | | | | 475,452 | | | | | | 49,043 | | | | | | 1,941,751 | | |
| | | | | | | | |
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards ($)(1) |
| |
Estimated
Future Payouts Under Equity Incentive Plan Awards(2) |
| |
All Other
Stock Awards: Number of Shares of Stock or Units or Units |
| |
Grant Date
Fair Value of Stock and Option Awards |
| ||||||||||||||||||||||||
| | | | | | | | |
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Target
|
| ||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
(#)
|
| |
(#)(3)
|
| |
($)(4)
|
| |||||||||||||||||||||
Matthew Wilson
|
| | |
|
—
|
| | | |
|
325,000
|
| | | |
|
1,300,000
|
| | | |
|
2,600,000
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| |
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
17,049
|
| | | |
|
—
|
| | | |
|
974,948
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
17,049
|
| | | |
|
—
|
| | | |
|
974,948
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
34,099
|
| | | |
|
1,949,952
|
| | ||
Oliver Chow
|
| | |
|
—
|
| | | |
|
46,871
|
| | | |
|
188,419
|
| | | |
|
374,966
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| |
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
1,065
|
| | | |
|
—
|
| | | |
|
60,903
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
1,065
|
| | | |
|
—
|
| | | |
|
60,903
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
2,131
|
| | | |
|
121,862
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
2,623
|
| | | |
|
149,997
|
| | ||
| |
|
08/30/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
2,636
|
| | | |
|
203,131
|
| | ||
Constance P. James(5)
|
| | |
|
—
|
| | | |
|
140,625
|
| | | |
|
562,500
|
| | | |
|
1,125,000
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| |
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
6,557
|
| | | |
|
—
|
| | | |
|
374,963
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
6,557
|
| | | |
|
—
|
| | | |
|
374,963
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
13,115
|
| | | |
|
749,982
|
| | ||
James Sottile
|
| | |
|
—
|
| | | |
|
131,250
|
| | | |
|
525,000
|
| | | |
|
1,050,000
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| |
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
5,355
|
| | | |
|
—
|
| | | |
|
306,226
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
5,355
|
| | | |
|
—
|
| | | |
|
306,226
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
10,710
|
| | | |
|
612,452
|
| | ||
Siobhan Lane
|
| | |
|
—
|
| | | |
|
140,625
|
| | | |
|
562,500
|
| | | |
|
1,125,000
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| |
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
6,557
|
| | | |
|
—
|
| | | |
|
374,963
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
6,557
|
| | | |
|
—
|
| | | |
|
374,963
|
| | ||
| |
|
03/24/2023
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
—
|
| | | |
|
13,115
|
| | | |
|
749,982
|
| |
| | | | | | | | | | | | | | |
Option Awards
|
| |
Stock Awards
|
| |||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($/Sh) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($)(1) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(1) |
| | ||||||||||||||||||||||||||||||||
Matthew Wilson
|
| | | | 04/03/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,797(2) | | | | | | 804,432 | | | | | | — | | | | | | — | | | | ||
| | | 03/22/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,396(3) | | | | | | 196,736 | | | | | | — | | | | | | — | | | | ||||
| | | 03/22/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,186(4) | | | | | | 590,043 | | | | | | — | | | | | | — | | | | ||||
| | | 06/25/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,683(5) | | | | | | 548,742 | | | | | | — | | | | | | — | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,400(6) | | | | | | 689,724 | | | | | | — | | | | | | — | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,300(7) | | | | | | 517,293 | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,300(8) | | | | | | 517,293 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 34,099(9) | | | | | | 2,799,869 | | | | | | — | | | | | | — | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 17,049(10) | | | | | | 1,399,894 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 17,049(11) | | | | | | 1,399,894 | | | | ||||
Oliver Chow
|
| | | | 11/14/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,265(12) | | | | | | 185,980 | | | | | | — | | | | | | — | | | | ||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,131(9) | | | | | | 174,976 | | | | | | — | | | | | | — | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,065(10) | | | | | | 87,448 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,065(11) | | | | | | 87,448 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,749(13) | | | | | | 143,611 | | | | | | — | | | | | | — | | | | ||||
| | | 08/30/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,636(14) | | | | | | 216,442 | | | | | | — | | | | | | — | | | | ||||
James Sottile
|
| | | | 09/04/2018 | | | | | | 5,006(15) | | | | | | — | | | | | | — | | | | | | 30.33 | | | | | | 09/03/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
| | | 09/04/2018 | | | | | | 5,006(16) | | | | | | — | | | | | | — | | | | | | 30.33 | | | | | | 09/03/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||||
| | | 03/20/2019 | | | | | | 15,127(17) | | | | | | — | | | | | | — | | | | | | 22.69 | | | | | | 03/20/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||||
| | | 03/20/2019 | | | | | | 15,127(18) | | | | | | — | | | | | | — | | | | | | 22.69 | | | | | | 03/20/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||||
| | | 04/03/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,375(2) | | | | | | 769,782 | | | | | | — | | | | | | — | | | | ||||
| | | 03/22/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,236(3) | | | | | | 183,598 | | | | | | — | | | | | | — | | | | ||||
| | | 03/22/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,707(4) | | | | | | 550,712 | | | | | | — | | | | | | — | | | | ||||
| | | 06/25/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,237(5) | | | | | | 512,121 | | | | | | — | | | | | | — | | | | ||||
| | | 09/02/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,334(19) | | | | | | 273,755 | | | | | | — | | | | | | — | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,860(6) | | | | | | 563,275 | | | | | | — | | | | | | — | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,145(7) | | | | | | 422,456 | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,145(8) | | | | | | 422,456 | | | | ||||
| | | 10/05/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,667(20) | | | | | | 547,428 | | | | | | — | | | | | | — | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,710(9) | | | | | | 879,399 | | | | | | | | | | | | | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,355(10) | | | | | | 440,000 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,355(11) | | | | | | 440,000 | | | |
| | | | | | | | | | | | | | |
Option Awards
|
| |
Stock Awards
|
| |||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($/Sh) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($)(1) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(1) |
| | ||||||||||||||||||||||||||||||||
Siobhan Lane
|
| | | | 04/03/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,375(2) | | | | | | 359,232 | | | | | | — | | | | | | — | | | | ||
| | | 03/22/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 921(3) | | | | | | 75,624 | | | | | | — | | | | | | — | | | | ||||
| | | 03/22/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,763(4) | | | | | | 226,870 | | | | | | — | | | | | | — | | | | ||||
| | | 06/25/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,569(5) | | | | | | 210,941 | | | | | | — | | | | | | — | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,620(6) | | | | | | 379,349 | | | | | | — | | | | | | — | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,465(7) | | | | | | 284,512 | | | | ||||
| | | 03/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,465(8) | | | | | | 284,512 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,115(9) | | | | | | 1,076,873 | | | | | | — | | | | | | | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,557(10) | | | | | | 538,396 | | | | ||||
| | | 03/24/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,557(11) | | | | | | 538,396 | | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
Name
|
| |
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized
on Exercise ($) |
| |
Number of Shares
Acquired on Vesting (#)(1) |
| |
Value Realized
on Vesting ($)(2) |
| ||||||||||||
Matthew Wilson
|
| | | | — | | | | | | — | | | | | | 43,933 | | | | | $ | 2,885,414 | | |
Oliver Chow
|
| | | | — | | | | | | — | | | | | | 2,006 | | | | | $ | 173,008 | | |
Constance James
|
| | | | — | | | | | | — | | | | | | 11,924 | | | | | $ | 686,051 | | |
James Sottile
|
| | | | — | | | | | | — | | | | | | 27,135 | | | | | $ | 1,737,582 | | |
Siobhan Lane
|
| | | | — | | | | | | — | | | | | | 16,323 | | | | | $ | 1,062,842 | | |
| | |
Voluntary
Resignation |
| |
Termination
for Cause |
| |
Termination
Without Cause or for Good Reason |
| |
Termination
Without Cause or for Good Reason (w/ Change in Control)(a) |
| |
Termination
Due to Death |
| |
Termination
Due to Disability |
| ||||||||||||||||||
Cash Payments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | | — | | | | | | — | | | | | $ | 2,600,000(b) | | | | | $ | 2,600,000(c) | | | | | | — | | | | | | — | | |
Severance Bonus Amount
|
| | | | — | | | | | | — | | | | | | — | | | | | $ | 2,600,000(d) | | | | | | — | | | | | | — | | |
Bonus for Year of Termination
|
| | | | — | | | | | | — | | | | | $ | 1,483,300(e) | | | | | $ | 1,483,300(e) | | | | | | — | | | | | | — | | |
Total Cash Payments
|
| | | | — | | | | | | — | | | | | $ | 4,083,300 | | | | | $ | 6,683,300 | | | | | | — | | | | | | — | | |
Benefits & Perquisites | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Health and Welfare Benefits
|
| | | | — | | | | | | — | | | | | $ | 42,654(f) | | | | | $ | 56,872(f) | | | | | $ | 2,600,000(f) | | | | | | — | | |
Total Benefits & Perquisites
|
| | | | — | | | | | | — | | | | | $ | 42,654 | | | | | $ | 56,872 | | | | | $ | 2,600,000 | | | | | | — | | |
Long-Term Incentive Compensation
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value of Accelerated RSUs
|
| | | | — | | | | | | — | | | | | $ | 2,330,969 | | | | | $ | 9,505,300(g) | | | | | $ | 9,505,300(g) | | | | | $ | 9,505,300(g) | | |
Total Value of Payments and Benefits
|
| | | | — | | | | | | — | | | | | $ | 6,456,923 | | | | | $ | 16,245,472 | | | | | $ | 12,105,300 | | | | | $ | 9,505,300 | | |
| | |
Voluntary
Resignation |
| |
Termination
for Cause |
| |
Termination
Without Cause or for Good Reason |
| |
Termination
Without Cause or for Good Reason (w/ Change in Control)(a) |
| |
Termination
Due to Death |
| |
Termination
Due to Disability |
| ||||||||||||||||||
Cash Payments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | | — | | | | | | — | | | | | $ | 625,000(b) | | | | | $ | 625,000(b) | | | | | | — | | | | | | — | | |
Severance Bonus Amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Bonus for Year of
Termination |
| | | | — | | | | | | — | | | | | $ | 214,797(c) | | | | | $ | 214,797(c) | | | | | | — | | | | | | — | | |
Total Cash Payments
|
| | | | — | | | | | | — | | | | | $ | 839,797 | | | | | $ | 839,797 | | | | | | — | | | | | | — | | |
Benefits & Perquisites | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Health and Welfare Benefits
|
| | | | — | | | | | | — | | | | | $ | 24,618(d) | | | | | $ | 24,618(d) | | | | | $ | 1,250,000(d) | | | | | | — | | |
Total Benefits &
Perquisites |
| | | | — | | | | | | — | | | | | $ | 24,618 | | | | | $ | 24,618 | | | | | $ | 1,250,000 | | | | | | — | | |
Long-Term Incentive Compensation
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value of Accelerated RSUs
|
| | | | — | | | | | | — | | | | | $ | 118,496(e) | | | | | $ | 895,903(e) | | | | | $ | 895,903(e) | | | | | $ | 895,903(e) | | |
Total Value of Payments and Benefits
|
| | | | — | | | | | | — | | | | | $ | 982,911 | | | | | $ | 1,760,318 | | | | | $ | 2,145,903 | | | | | $ | 895,903 | | |
| | |
Voluntary
Resignation |
| |
Termination
for Cause |
| |
Termination
Without Cause or for Good Reason |
| |
Termination
Without Cause or for Good Reason (w/ Change in Control)(a) |
| |
Termination
Due to Death |
| |
Termination
Due to Disability |
| ||||||||||||||||||
Cash Payments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | | — | | | | | | — | | | | | $ | 700,000(b) | | | | | $ | 1,050,000(c) | | | | | | — | | | | | | — | | |
Severance Bonus Amount
|
| | | | — | | | | | | — | | | | | $ | 525,000(b)(d) | | | | | $ | 787,500(e) | | | | | | — | | | | | | — | | |
Bonus for Year of Termination
|
| | | | — | | | | | | — | | | | | $ | 599,025(f) | | | | | $ | 599,025(f) | | | | | | — | | | | | | — | | |
Total Cash Payments
|
| | | | — | | | | | | — | | | | | $ | 1,824,025 | | | | | $ | 2,436,525 | | | | | | — | | | | | | — | | |
Benefits & Perquisites | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Health and Welfare Benefits
|
| | | | — | | | | | | — | | | | | $ | 16,750(g) | | | | | $ | 25,125(g) | | | | | $ | 1,400,000(g) | | | | | | — | | |
Total Benefits & Perquisites
|
| | | | — | | | | | | — | | | | | $ | 16,750 | | | | | $ | 25,125 | | | | | $ | 1,400,000 | | | | | | — | | |
Long-Term Incentive Compensation
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value of Accelerated RSUs
|
| | | | — | | | | | | — | | | | | $ | 3,138,491(h) | | | | | $ | 6,042,968(h) | | | | | $ | 6,042,968(h) | | | | | $ | 6,042,968(h) | | |
Total Value of Payments and Benefits
|
| | | | — | | | | | | — | | | | | $ | 4,979,266 | | | | | $ | 8,504,618 | | | | | $ | 7,442,968 | | | | | $ | 6,042,968 | | |
| | |
Voluntary
Resignation |
| |
Termination
for Cause |
| |
Termination
Without Cause or for Good Reason |
| |
Termination
Without Cause or for Good Reason (w/ Change in Control)(a) |
| |
Termination
Due to Death |
| |
Termination
Due to Disability |
| ||||||||||||||||||
Cash Payments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Salary
|
| | | | — | | | | | | — | | | | | $ | 1,500,000(b) | | | | | $ | 1,500,000(b) | | | | | | — | | | | | | — | | |
Severance Bonus Amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Bonus for Year of Termination
|
| | | | — | | | | | | — | | | | | $ | 621,281(c) | | | | | $ | 621,281(c) | | | | | | — | | | | | | — | | |
Total Cash Payments
|
| | | | — | | | | | | — | | | | | $ | 2,121,281 | | | | | $ | 2,121,281 | | | | | | — | | | | | | — | | |
Benefits & Perquisites | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Health and Welfare Benefits
|
| | | | — | | | | | | — | | | | | $ | 22,787(d) | | | | | $ | 22,787(d) | | | | | $ | 1,500,000(d) | | | | | | — | | |
Total Benefits & Perquisites
|
| | | | — | | | | | | — | | | | | $ | 22,787 | | | | | $ | 22,787 | | | | | $ | 1,500,000 | | | | | | — | | |
Long-Term Incentive Compensation
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Value of Accelerated RSUs
|
| | | | — | | | | | | — | | | | | $ | 1,042,235(e) | | | | | $ | 3,990,629(e) | | | | | $ | 3,990,629(e) | | | | | $ | 3,990,629(e) | | |
Total Value of Payments and Benefits
|
| | | | — | | | | | | — | | | | | $ | 3,186,303 | | | | | $ | 6,134,697 | | | | | $ | 5,490,629 | | | | | $ | 3,990,629 | | |
| | | Summary Compensation Table Total for PEO | | | Compensation Actually Paid to PEO | | | | | | | | | | | | | | | Value of Initial Fixed $100 Investment Based On: | | | | | | | | | | | | | | |||||||||||||||||||||||||||
Year | | | First PEO ($)(1) | | | Second PEO ($)(1) | | | First PEO ($)(2) | | | Second PEO ($)(2) | | | Avg Summary Compensation Table Total for Non- PEO NEOs ($)(1) | | | Average Compensation Actually Paid to Non- PEO NEOs ($)(2) | | | Total Shareholder Return ($)(3) | | | Peer Group Total Shareholder Return ($)(3) | | | Net Income ($ millions) | | | Consolidated ($ millions)(4) | | ||||||||||||||||||||||||||||||
(a) | | | (b) | | | (c) | | | (d) | | | (e) | | | (f) | | | (g) | | | (h) | | | (i) | | | (j) | | | (k) | | ||||||||||||||||||||||||||||||
2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
2022 | | | | | | | | | | | | | | | | | | | | ( | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||
2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ( | | | | | | | |
Year | | | Summary Compensation Table Total (First PEO) ($) | | | Exclusion of Equity Awards Reported in the Summary Compensation Table Total (First PEO) ($)(a) | | | Equity Award Additions to Summary Compensation Table Total (First PEO) ($)(b) | | | Compensation Actually Paid (First PEO) ($) | | ||||||||||||
2023 | | | | | | | | | | | | | | | | | | | | | | ||||
2022 | | | | | | | | | | | | | | | | | | | | | |
Year | | | Summary Compensation Table Total (Second PEO) ($) | | | Exclusion of Equity Awards Reported in the Summary Compensation Table Total (Second PEO) ($)(a) | | | Equity Award Additions to Summary Compensation Table Total (Second PEO) ($)(b) | | | Compensation Actually Paid (Second PEO) ($) | | ||||||||||||
2022 | | | | | | | | | | | | | | | ( | | | | | | ( | | | ||
2021 | | | | | | | | | | | | | | | | | | | | | | ||||
2020 | | | | | | | | | | | | | | | | | | | | | |
Year | | | Average Summary Compensation Table Total (Other NEOs) ($) | | | Exclusion of Average of Equity Awards Reported in the Summary Compensation Table Total (Other NEOs) ($)(a) | | | Average Equity Award Additions to Summary Compensation Table Total(Other NEOs) ($)(b) | | | Average Compensation Actually Paid (Other NEOs) ($) | | ||||||||||||
2023 | | | | | | | | | | | | | | | | | | | | | | ||||
2022 | | | | | | | | | | | | | | | | | | | | | | ||||
2021 | | | | | | | | | | | | | | | | | | | | | | ||||
2020 | | | | | | | | | | | | | | | | | | | | | |
Year | | | Year-End Fair Value of Current Year Equity Awards That Remain Unvested as of Last Day of Year (First PEO) ($) | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards (First PEO) ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year (First PEO) ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Year that Vested in the Year (First PEO) ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year (First PEO) ($) | | | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included (First PEO) ($) | | | Total Equity Award Additions (First PEO) ($) | | |||||||||||||||||||||
2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
2022 | | | | | | | | | | ( | | | | | | | | | | | ( | | | | | | | | | | | | | | | | | |
Year | | | Year-End Fair Value of Current Year Equity Awards That Remain Unvested as of Last Day of Year (Second PEO) ($) | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards (Second PEO) ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year (Second PEO) ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Year that Vested in the Year (Second PEO) ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year (Second PEO) ($) | | | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included (Second PEO) ($) | | | Total Equity Award Additions (Second PEO) ($) | | |||||||||||||||||||||
2022 | | | | | | | | | | | | | | | | | | | | ( | | | | | | ( | | | | | | | | | | | ( | | | ||||
2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
2020 | | | | | | | | | | | | | | | | | | | | ( | | | | | | ( | | | | | | | | | | | | |
Year | | | Average Year-End Fair Value of Current Year Equity Awards That Remain Unvested as of Last Day of Year (Other NEOs) ($) | | | Average Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards (Other NEOs) ($) | | | Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year (Other NEOs) ($) | | | Average Year over Year Change in Fair Value of Equity Awards Granted in Prior Year that Vested in the Year (Other NEOs) ($) | | | Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year (Other NEOs) ($) | | | Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included (Other NEOs) ($) | | | Average Total Equity Award Additions (Other NEOs) ($) | | |||||||||||||||||||||
2023 | | | | | | | | | | | | | | | | | | | | | | | | | ( | | | | | | | | | | | | | ||||||
2022 | | | | | | | | | | ( | | | | | | | | | | | ( | | | | | | ( | | | | | | | | | | | | | ||||
2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
2020 | | | | | | | | | | | | | | | | | | | | ( | | | | | | ( | | | | | | | | | | | | |
Plan Category
|
| |
Number of securities to
be issued upon exercise of outstanding options, warrants and rights (a) |
| |
Weighted average
exercise price of outstanding options, warrants and rights(3) (b) |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) |
| |||||||||
Equity compensation plans approved by security
holders(1) |
| | | | 3,860,536 | | | | | $ | 42.04 | | | | | | 5,867,629 | | |
Equity compensation plans not approved by security holders(2)
|
| | | | — | | | | | | — | | | | | | 69,517 | | |
Total
|
| | | | 3,860,536 | | | | | $ | 42.04 | | | | | | 5,937,146 | | |
| | |
2023 Fees
(in millions) |
| |
2022 Fees
(in millions) |
| ||||||||||||||||||||||||||||||
| | |
Light &
Wonder |
| |
SciPlay
|
| |
Consolidated
|
| |
Light &
Wonder |
| |
SciPlay
|
| |
Consolidated
|
| ||||||||||||||||||
Audit Fees
|
| | | $ | 6.1 | | | | | $ | 0.5 | | | | | $ | 6.6 | | | | | $ | 7.2 | | | | | $ | 1.1 | | | | | $ | 8.3 | | |
Audit-Related Fees
|
| | | $ | 0.1 | | | | | $ | — | | | | | $ | 0.1 | | | | | $ | 0.1 | | | | | $ | — | | | | | $ | 0.1 | | |
Tax Fees
|
| | | $ | 2.8 | | | | | $ | 0.6 | | | | | $ | 3.4 | | | | | $ | 3.3 | | | | | $ | 0.2 | | | | | $ | 3.5 | | |
All Other Fees
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
| | | | By Order of the Board of Directors | |
| | | |
|
|
| Dated: April 24, 2024 | | |
James Sottile
Executive Vice President, Chief Legal Officer and Corporate Secretary |
|
| | |
Year Ended
December 31, 2023 |
| |||||||||
(unaudited, $ in millions)
|
| |
Gaming
|
| |
Consolidated
|
| ||||||
Revenue
|
| | | $ | 1,850 | | | | | $ | 2,902 | | |
Compensation Committee adjustments
|
| | | | — | | | | | | — | | |
LWICP Revenue
|
| | | $ | 1,850 | | | | | $ | 2,902 | | |
(unaudited, $ in millions)
|
| |
December 31,
2023 |
| |
December 31,
2022 |
| |
December 31,
2021 |
| |
December 31,
2020 |
| | | | ||||||||||||
Reconciliation of Net Income (Loss) Attributable to L&W to Consolidated AEBITDA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to L&W
|
| | | $ | 163 | | | | | $ | 3,675 | | | | | $ | 371 | | | | | | (569) | | | | | |
Net income attributable to noncontrolling interest
|
| | | | 17 | | | | | | 22 | | | | | | 19 | | | | | | 21 | | | | ||
Net income from discontinued operations, net of
tax |
| | | | — | | | | | | (3,873) | | | | | | (366) | | | | | | (253) | | | | | |
Net income (loss) from continuing operations
|
| | | | 180 | | | | | | (176) | | | | | | 24 | | | | | | (801) | | | | | |
Restructuring and other
|
| | | | 92 | | | | | | 146 | | | | | | 167 | | | | | | 56 | | | | | |
Depreciation, amortization and impairments
|
| | | | 384 | | | | | | 420 | | | | | | 398 | | | | | | 449 | | | | | |
Goodwill impairment
|
| | | | — | | | | | | — | | | | | | — | | | | | | 54 | | | | | |
Other (income) expense, net
|
| | | | (5) | | | | | | (6) | | | | | | (28) | | | | | | 9 | | | | | |
Interest expense
|
| | | | 309 | | | | | | 327 | | | | | | 478 | | | | | | 503 | | | | | |
Income tax expense (benefit)
|
| | | | 25 | | | | | | 13 | | | | | | (318) | | | | | | (3) | | | | | |
Stock-based compensation
|
| | | | 118 | | | | | | 69 | | | | | | 113 | | | | | | 56 | | | | | |
Loss on debt financing transactions
|
| | | | 15 | | | | | | 147 | | | | | | — | | | | | | — | | | | | |
(Gain) loss on remeasurement of debt
|
| | | | — | | | | | | (27) | | | | | | (41) | | | | | | 51 | | | | | |
Consolidated AEBITDA
|
| | | $ | 1,118 | | | | | $ | 913 | | | | | $ | 793 | | | | | $ | 374 | | | | | |
| | |
Year Ended
December 31, 2023 |
| |||||||||
(unaudited, $ in millions)
|
| |
Gaming
|
| |
Consolidated
|
| ||||||
Consolidated AEBITDA
|
| | | $ | 918 | | | | | $ | 1,118 | | |
LWICP adjustments(1)
|
| | | | (24) | | | | | | (48) | | |
LWICP AEBITDA
|
| | | $ | 894 | | | | | $ | 1,070 | | |
(unaudited, $ in millions)
|
| |
Year Ended
December 31, 2023 (Consolidated) |
| |||
Consolidated AEBITDA
|
| | | $ | 1,118 | | |
Compensation Committee adjustments(1)
|
| | | | (35) | | |
RSU AEBITDA
|
| | | $ | 1,083 | | |