LIDDELL KIM C 4

What Happened

• Kim C. Liddell, Director and President & CEO of Lake Shore Bancorp, was granted 6,285 shares of restricted stock on March 18, 2026. The grant is reported as an award (code A) at $0.00 per share (reported acquisition value $0). These shares are unvested and subject to vesting.

Key Details

• Transaction date: 2026-03-18; Filing date (Form 4): 2026-03-20 (filed within the normal 2-business-day window).
• Transaction type/code: Award/Grant (A).
• Shares granted: 6,285 restricted shares; reported price: $0.00; reported cash value: $0.
• Vesting: These 6,285 shares vest in four equal annual installments beginning on March 18, 2027 (see footnote F4 / F1).
• Other unvested awards reported in the filing: 6,363 shares from a 3/12/2025 grant (F2) and 5,247 shares from an 4/23/2024 grant (F3). Combined unvested shares from these grants = 17,895.
• Footnote F5 indicates some shares in the filing were acquired via an Employee Stock Ownership Plan (ESOP) allocation.
• Shares owned after the transaction: not specified in the provided filing details.

Context

• This was a compensation award of restricted stock, not an open-market purchase or sale. Restricted shares typically vest over time and are not immediately liquid; vesting schedules matter for when the insider can sell.
• Awards like this are common for executive compensation and do not by themselves indicate buying or selling sentiment. Purchases are often considered more directly bullish than grant awards.