LIDDELL KIM C 4

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.