Divisadero Street Partners, L.P. 4

4 · Lifeway Foods, Inc. · Filed May 18, 2026

AI-generated summary of this filing

Updated May 19, 2026

Lifeway Foods (LWAY) 10% Owner Divisadero Street Capital Buys Shares

What Happened

Divisadero Street Capital Management, LP (reporting as a 10% owner/manager for Divisadero Street Partners, L.P.) purchased a total of 165,045 Lifeway Foods (LWAY) shares in open-market transactions on May 14–15, 2026. Transactions reported: 95,371 shares at a weighted avg $25.24 ($2,406,830); 1,500 shares at $22.98 ($34,469); 35,000 shares at $26.33 ($921,379); and 33,174 shares at $25.27 ($838,290). Total cash outlay reported is approximately $4.20 million. These were purchases (buying stock), which are typically considered a more informative signal than routine insider sales.

Key Details

Transaction dates: May 14–15, 2026. Filing date: May 18, 2026 (appears filed within the normal 2-business-day window).
Prices: weighted averages reported; ranges provided in footnotes:
- Footnote F1: purchases within $25.1592–$25.4584 (weighted avg $25.24)
- Footnote F3: purchases within $25.1845–$25.3121 (weighted avg $25.27)
- One small lot at $22.98 and one at $26.33 reported separately.
Shares acquired: 165,045 total shares for ~ $4.20M.
Shares owned after transaction: Not specified in the data provided on this summary filing.
Ownership structure (Footnote F2): the securities are owned directly by Divisadero Street Partners, L.P. (the Fund) and may be indirectly beneficially owned by the Adviser (Divisadero Street Capital Management, LP), Divisadero Street Capital, LLC (Adviser GP), Divisadero Street Partners GP, LLC (Fund GP), and William Zolezzi (manager). The Adviser GP, Fund GP, and William Zolezzi will be reported as Reporting Persons on a subsequent Form 4 once CIKs are received.
No 10b5-1 plan, option exercise, gift, or tax-withholding noted; this is coded as P (purchase).

Context

This is institutional buying by a reported >10% holder (an investment fund and its adviser/affiliated entities), not a company executive. Institutional purchases can reflect portfolio rebalancing or growing conviction, but the filing itself does not state motivation.
Weighted-average prices and ranges mean the purchases occurred in multiple trades; the reporting persons offered to provide a breakdown by individual trade price on request.

Form 4

Period: 2026-05-14

10% Owner

Transactions

Purchase
Common Stock, No Par Value
[F1][F2]
2026-05-14$25.24/sh+95,371$2,406,830→ 2,031,866 total(indirect: See Footnote)
Purchase
Common Stock, No Par Value
[F2]
2026-05-14$22.98/sh+1,500$34,469→ 2,033,366 total(indirect: See Footnote)
Purchase
Common Stock, No Par Value
[F2]
2026-05-14$26.33/sh+35,000$921,379→ 2,068,366 total(indirect: See Footnote)
Purchase
Common Stock, No Par Value
[F3][F2]
2026-05-15$25.27/sh+33,174$838,290→ 2,101,540 total(indirect: See Footnote)

Footnotes (3)

[F1]The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.1592 - $25.4584. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (1) to this Form 4.
[F2]The reported securities are owned directly by Divisadero Street Partners, L.P. (the "Fund"), which is a private investment fund managed by Divisadero Street Capital Management, LP (the "Adviser"), and may be deemed to be indirectly beneficially owned by (i) the Adviser, (ii) Divisadero Street Capital, LLC (the "Adviser GP"), the general partner of the Adviser, (iii) Divisadero Street Partners GP, LLC (the "Fund GP"), the general partner of the Fund, and (iv) William Zolezzi, the manager of both the Adviser GP and the Fund GP.
[F3]The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.1845 - $25.3121. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (3) to this Form 4.

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