Jason Scott Scher - Aug 12, 2024 Form 4 Insider Report for Lifeway Foods, Inc. (LWAY)

Role
Director
Signature
/s/ Eric Hanson, as attorney-in-fact
Stock symbol
LWAY
Transactions as of
Aug 12, 2024
Transactions value $
$0
Form type
4
Date filed
9/4/2024, 06:48 PM
Previous 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 Aug 12, 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 Restricted Stock Units Disposed to Issuer -1.79K -100% 0 Aug 12, 2024 Common Stock 1.79K Direct F1, F2
transaction LWAY Restricted Stock Units Disposed to Issuer -1.6K -50% 1.6K Aug 31, 2024 Common Stock 1.6K Direct F3, F4
transaction LWAY Restricted Stock Units Disposed to Issuer -1.55K -33.34% 3.1K Aug 31, 2024 Common Stock 1.55K Direct F4, F5
transaction LWAY Phantom Stock Award +1.79K +2.77% 66.2K Aug 12, 2024 Common Stock 1.79K Direct F2, F6, F7
transaction LWAY Phantom Stock Award +3.15K +4.76% 69.4K Aug 31, 2024 Common Stock 3.15K Direct F4, F6, F7
holding LWAY Restricted Stock Units 4.07K Aug 12, 2024 Common Stock 4.07K Direct F8
* 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.
F2 In connection with the vesting on August 12, 2024 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 1,785 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 1,785 shares of phantom stock pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan (the "Director Plan"). The Reporting Person is therefore reporting the disposition of 1,785 RSUs in exchange for an equal number of shares of phantom stock.
F3 Each RSU has a value equal to one share of common stock. The remaining RSUs will vest on August 31, 2025, contingent on the Reporting Person's continued service as a Director on the vesting date.
F4 In connection with the vesting on August 31, 2024 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 3,151 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 3,151 shares of phantom stock pursuant to the Director Plan. The Reporting Person is therefore reporting the disposition of 3,151 RSUs in exchange for an equal number of shares of phantom stock.
F5 Each RSU has a value equal to one share of common stock. Of such RSUs, 1,551 will vest on August 31, 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.
F6 Each share of phantom stock represents a right to receive one share of common stock.
F7 The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.
F8 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.