Jason Scott Scher - Jun 30, 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 30, 2024
Transactions value $
$0
Form type
4
Date filed
7/2/2024, 12:57 PM
Previous filing
Jun 11, 2024
Next filing
Sep 4, 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 30, 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 +1.78K +2.84% 64.5K Jun 30, 2024 Common Stock 1.78K Direct F4
transaction LWAY Restricted Stock Units Award +4.07K 4.07K Jul 1, 2024 Common Stock 4.07K Direct F5
holding LWAY Restricted Stock Units 1.79 Jun 30, 2024 Common Stock 1.79K Direct F1
holding LWAY Restricted Stock Units 3.2K Jun 30, 2024 Common Stock 3.2K Direct F2
holding LWAY Restricted Stock Units 4.65K Jun 30, 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. Such shares of phantom stock were acquired upon deferral of the Reporting Person's cash compensation for service on the Board of Directors in the quarter ended June 30, 2024. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.
F5 Each RSU has a value equal to one share of common stock. Of such RSUs, 1,356 will vest on each of July 1, 2025 and 2026 and 1,354 will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.