LIDDELL KIM C 4
4 · Lake Shore Bancorp, Inc. /MD/ · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
Lake Shore Bancorp (LSBK) CEO Kim C. Liddell Withholds 631 Shares for Taxes
What Happened
Kim C. Liddell (Director, President & CEO of Lake Shore Bancorp, ticker LSBK) had 631 shares withheld to satisfy tax withholding obligations related to the vesting of restricted stock. The shares were reported disposed at $15.85 per share for a total value of $10,001 on April 23, 2026. This was a tax-withholding disposition (transaction code F), not an open-market sale or a purchase.
Key Details
- Transaction date: April 23, 2026; filing date: April 24, 2026 (timely filed).
- Withheld/disposed: 631 shares at $15.85 per share; total value reported $10,001.
- Shares owned after transaction: not specified in the filing.
- Notable footnotes:
- F1: Withholding was done to cover tax liability on restricted stock vesting (market price used = $15.85).
- F3: 1,748 shares vested on April 23, 2026 (part of a grant made April 23, 2024); 3,499 remaining unvested from that grant.
- F2 & F4: Additional unvested restricted stock grants exist (6,363 shares from Mar 12, 2025; 6,285 shares from Mar 18, 2026) that vest in annual installments.
- F5: Some shares were acquired via an Employee Stock Ownership Plan allocation.
- Transaction code meaning: F = tax withholding/own shares surrendered to cover tax liability.
Context
This was a routine tax-withholding transaction tied to restricted stock vesting (a non-cash disposition). Such withholding is administrative and does not necessarily indicate a change in the insider’s view of the company. It differs from an open-market sale (S) or a deliberate cash sale; no 10b5‑1 plan or options exercise was reported here.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2][F3][F4]2026-04-23$15.85/sh−631$10,001→ 70,367 total
- 10,000(indirect: By Spouse)
Common Stock
- 41,661(indirect: By IRA)
Common Stock
- 1,949(indirect: By ESOP)
Common Stock
[F5]
Footnotes (5)
- [F1]The reporting person elected to pay for a tax liability by withholding securities incident to the vesting of a security (restricted stock) based on a market price of $15.85.
- [F2]Includes 6,363 remaining shares of unvested restricted stock that were granted on March 12, 2025 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant.
- [F3]Includes 3,499 remaining shares of unvested restricted stock that were granted on April 23, 2024 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant. 1,748 shares vested on April 23, 2026.
- [F4]Includes 6,285 shares of unvested restricted stock that were granted on March 18, 2026 and vest in four equal annual installments beginning on the first anniversary of the grant.
- [F5]These shares were acquired pursuant to an Employee Stock Ownership Plan Allocation.