4//SEC Filing
SCHER JASON SCOTT 4
Accession 0001683168-24-006195
CIK 0000814586other
Filed
Sep 3, 8:00 PM ET
Accepted
Sep 4, 6:48 PM ET
Size
18.2 KB
Accession
0001683168-24-006195
Insider Transaction Report
Form 4
SCHER JASON SCOTT
Director
Transactions
- Award
Phantom Stock
2024-08-31+3,151→ 69,391 total→ Common Stock (3,151 underlying) - Disposition to Issuer
Restricted Stock Units
2024-08-12−1,785→ 0 total→ Common Stock (1,785 underlying) - Disposition to Issuer
Restricted Stock Units
2024-08-31−1,600→ 1,600 total→ Common Stock (1,600 underlying) - Disposition to Issuer
Restricted Stock Units
2024-08-31−1,551→ 3,101 total→ Common Stock (1,551 underlying) - Award
Phantom Stock
2024-08-12+1,785→ 66,240 total→ Common Stock (1,785 underlying)
Holdings
- 24,567
Common Stock, no par value
- 4,066
Restricted Stock Units
→ Common Stock (4,066 underlying)
Footnotes (8)
- [F1]Each restricted stock unit ("RSU") represents a contingent right once vested and as soon as practicable after the Reporting Person no longer serves as director to receive one share of Issuer's common stock. Such RSUs were granted upon conversion of the Reporting Person's Board of Director compensation in fiscal year 2021 into RSUs.
- [F2]In connection with the vesting on August 12, 2024 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 1,785 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 1,785 shares of phantom stock pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan (the "Director Plan"). The Reporting Person is therefore reporting the disposition of 1,785 RSUs in exchange for an equal number of shares of phantom stock.
- [F3]Each RSU has a value equal to one share of common stock. The remaining RSUs will vest on August 31, 2025, contingent on the Reporting Person's continued service as a Director on the vesting date.
- [F4]In connection with the vesting on August 31, 2024 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 3,151 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 3,151 shares of phantom stock pursuant to the Director Plan. The Reporting Person is therefore reporting the disposition of 3,151 RSUs in exchange for an equal number of shares of phantom stock.
- [F5]Each RSU has a value equal to one share of common stock. Of such RSUs, 1,551 will vest on August 31, 2025 and 1,550 will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.
- [F6]Each share of phantom stock represents a right to receive one share of common stock.
- [F7]The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.
- [F8]Each RSU has a value equal to one share of common stock. Of such RSUs, 1,356 will vest on each of July 1, 2025 and 2026 and 1,354 will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.
Documents
Issuer
Lifeway Foods, Inc.
CIK 0000814586
Entity typeother
Related Parties
1- filerCIK 0001554866
Filing Metadata
- Form type
- 4
- Filed
- Sep 3, 8:00 PM ET
- Accepted
- Sep 4, 6:48 PM ET
- Size
- 18.2 KB