Jason Scott Scher - Jun 7, 2024 Form 4 Insider Report for Lifeway Foods, Inc. (LWAY)

Role
Director
Signature
/s/ Eric Hanson, as attorney-in-fact for Jason S. Scher
Stock symbol
LWAY
Transactions as of
Jun 7, 2024
Transactions value $
$0
Form type
4
Date filed
6/11/2024, 02:39 PM
Previous filing
Apr 1, 2024
Next filing
Jul 2, 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 Jun 7, 2024 Direct

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 Phantom Stock Award +8.71K +16.14% 62.7K Jun 7, 2024 Common Stock 8.71K Direct F4, F5
holding LWAY Restricted Stock Units 1.79 Jun 7, 2024 Common Stock 1.79K Direct F1
holding LWAY Restricted Stock Units 3.2K Jun 7, 2024 Common Stock 3.2K Direct F2
holding LWAY Restricted Stock Units 4.65K Jun 7, 2024 Common Stock 4.65K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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. Such RSUs were granted upon conversion of the Reporting Person's Board of Director compensation in fiscal year 2021 into RSUs. 1,785 will vest and become non-forfeitable on August 12, 2024 and 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.
F2 Each RSU has a value equal to one share of common stock. Of such restricted stock units, 1,600 will vest on each of August 31, 2024 and 2025, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.
F3 Each RSU has a value equal to one share of common stock. Of such RSUs, 1,551 will vest on each of August 31, 2024 and 2025 and 1,550 will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.
F4 Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.
F5 Such shares of phantom stock represent 8,708 deferred RSUs acquired upon conversion of $114,250 of the Reporting Person's Board of Director deferred cash compensation for service on the Board of Directors into deferred RSUs on June 7, 2024 pursuant to the Company's 2022 Non-Employee Director Equity and Deferred Compensation Plan, as amended and modified from time to time.