Eric A. Hanson - 07 Mar 2025 Form 4 Insider Report for Lifeway Foods, Inc. (LWAY)

Role
CFO
Signature
/s/ Eric A. Hanson
Issuer symbol
LWAY
Transactions as of
07 Mar 2025
Transactions value $
-$207,103
Form type
4
Filing time
11 Mar 2025, 14:13:32 UTC
Previous filing
14 Jan 2025
Next filing
01 Apr 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LWAY Common Stock, no par value Award $0 +22.3K +80.32% $0.00 50K 07 Mar 2025 Direct F1, F2
transaction LWAY Common Stock, no par value Tax liability -$207K -9.77K -19.54% $21.20 40.2K 07 Mar 2025 Direct F3

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 2.52K 07 Mar 2025 Common Stock 2.52K Direct F4
holding LWAY Restricted Stock Units 4.78K 07 Mar 2025 Common Stock 4.78K Direct F5
holding LWAY Restricted Stock Units 2.49K 07 Mar 2025 Common Stock 2.49K Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 31, 2022, the Reporting Person was granted performance share units ("PSUs"), the vesting of which was subject to the achievement of certain 3-year cumulative revenue criteria and 3-year cumulative adjusted EBITDA criteria. In light of the performance based conditions of the award, the award was not reportable under Section 16 until the performance-based conditions were certified by the Issuer's Compensation Committee. Such certification occurred on March 7, 2025.
F2 PSUs convert into common stock on a one-for-one basis.
F3 No stock was sold. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
F4 Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 1,263 will vest on January 10, 2026 and 1,261 will vest on January 10, 2027, contingent on the Reporting Person's continued service on each applicable vesting date.
F5 Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 2,390 will vest on June 16, 2025 and 2,390 will vest on June 16, 2026, contingent on the Reporting Person's continued service on each applicable vesting date.
F6 Each restricted stock unit has a value equal to one share of common stock. The restricted stock units will vest on August 31, 2025, contingent on the Reporting Person's continued service on the vesting date.