Werdein Jeffrey M. 4

What Happened Jeffrey M. Werdein, EVP—Commercial Division of Lake Shore Bancorp (LSBK), was granted 3,025 shares of restricted stock on March 18, 2026 (transaction code A). The award shows an acquisition price of $0 (compensation award), so no cash was paid. The new grant vests in four equal annual installments beginning on the first anniversary of the grant (first vesting 3/18/2027).

Key Details

• Transaction date: 2026-03-18; Price: $0.00 (restricted stock award).
• Grant size: 3,025 unvested restricted shares granted on 3/18/2026.
• Vesting: 4 equal annual installments beginning 3/18/2027 (first vesting on that date).
• Additional unvested holdings noted in the filing: 3,063 shares from a 3/12/2025 grant and 2,575 shares from a 4/23/2024 grant (each scheduled to vest in four equal annual installments from their respective first anniversaries).
• Other notes in the filing: some shares were acquired via an Employee Stock Ownership Plan allocation; options referenced in the filing are fully vested.
• Filing timeliness: Report period 3/18/2026, Form filed 3/20/2026 — filed within the standard Form 4 reporting window (timely).

Context Restricted stock awards are a form of compensation and, because these shares are unvested, they are not an immediate market purchase or sale and do not by themselves signal a near-term trading intent. For retail investors, purchases (open-market buys) often carry clearer sentiment signals than routine compensation grants. The filing also notes fully vested options exist, which could be exercised in the future, but no exercise or sale was reported here.