Jason Scott Scher - Aug 31, 2022 Form 4 Insider Report for Lifeway Foods, Inc. (LWAY)

Role
Director
Signature
/s/ Jason S. Scher
Stock symbol
LWAY
Transactions as of
Aug 31, 2022
Transactions value $
$0
Form type
4
Date filed
9/2/2022, 01:14 PM
Previous filing
Jun 29, 2022
Next filing
Feb 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LWAY Common stock, no par value 24.6K Aug 31, 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LWAY Restricted Stock Units Award $0 +4.8K $0.00 4.8K Aug 31, 2022 Common Stock 4.8K Direct F4
holding LWAY Restricted Stock Units 40.6K Aug 31, 2022 Common Stock 40.6K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes a time-based restricted stock award of which 3,802 shares will vest on July 15, 2023, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.
F2 Each restricted stock unit ("RSU") represents a contingent right once vested and as soon as practicable after the Reporting Person no longer serves as director to receive one share of Issuer's common stock, if the shareholders approve such issuance, or cash equal to the number of vested RSUs multiplied by the closing price of the common stock on the day the Reporting Person ceases to serve as director of the Company. Such RSUs were granted upon conversion of the Reporting Person's Board of Director compensation in fiscal year 2021 into RSUs.
F3 37,054 RSUs have vested and become non-forfeitable, and, unless there is an earlier change of control of the Company or death or disability of the Reporting Person, upon which all unvested RSUs become fully vested and non-forfeitable, 1,786 will vest and become non-forfeitable on August 12, 2023 and 1,785 will vest and become non-forfeitable on August 12, 2024. Unvested RSUs will be forfeited if the Reporting Person's service as director terminates for any reason other than his death or disability or a change in control of the Company.
F4 Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 1,600 will vest on each of August 31, 2023, 2024 and 2025, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.