Ludmila Smolyansky - Dec 12, 2022 Form 4 Insider Report for Lifeway Foods, Inc. (LWAY)

Signature
/s/ Ludmila Smolyansky
Stock symbol
LWAY
Transactions as of
Dec 12, 2022
Transactions value $
-$202,200
Form type
4
Date filed
12/13/2022, 04:55 PM
Previous filing
Dec 7, 2022
Next filing
Dec 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LWAY Common Stock, no par value Sale -$134K -20K -0.83% $6.68 2.4M Dec 12, 2022 See footnote F1, F3
transaction LWAY Common Stock, no par value Sale -$68.6K -10K -0.42% $6.86 2.39M Dec 13, 2022 See Footnote F2, F3
holding LWAY Common Stock, no par value 27.3K Dec 12, 2022 See Footnote F4

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
holding LWAY Restricted Stock Units 4.8K Dec 12, 2022 Common Stock 4.8K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.62 to $6.73 per share, inclusive. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F2 The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.75 to $6.98 per share, inclusive. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.
F4 Held by The Smolyansky Family Foundation, of which Ludmila Smolyansky is the trustee
F5 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. The issuance of shares upon vesting of the restricted stock units is dependent on receipt by the Company of consent and agreement by DanoneWave PBC ("Danone") that such issuance will not constitute a breach of violation of or constitute "New Securities" under that certain Stockholders' Agreement, dated as of October 1, 1999, by and among the Corporation, Danone, Michael Smolyansky and the other stockholders of the Corporation listed therein, as amended by that certain letter agreement dated September 24, 1999 and as further amended from time to time.