SCHER JASON SCOTT 4

What Happened
Jason Scott Scher, a director of Lifeway Foods, received an award of 1,277 restricted stock units (RSUs) on January 10, 2026. The award is recorded as a derivative grant (no per-share price reported — N/A). RSUs represent a contingent right to receive one share of common stock upon vesting; no shares were sold or purchased on the open market.

Key Details

• Transaction date: 2026-01-10; reported on Form 4 filed 2026-04-02. Price: N/A (award/derivative).
• Grant type: Restricted stock units (RSUs) — each RSU converts 1:1 into a share upon vesting (Footnote F1).
• Vesting: Footnotes indicate vesting is contingent on continued board service. Specific vesting mentions include Dec 30, 2026 (F2), Aug 31, 2026 (F3), and tranches of 1,356 and 1,354 vesting July 1, 2026 and July 1, 2027 (F4).
• Phantom stock: filing also references phantom stock rights (payable upon cessation of board service) and phantom shares acquired via deferral of director cash compensation for the quarter ended Mar 31, 2026 (F5, F6).
• Shares owned after transaction: not specified in the provided filing.
• Timeliness: The Form 4 was filed on Apr 2, 2026 for a Jan 10, 2026 grant — more than two business days after the transaction, so the filing appears late.

Context
This was an equity compensation award for a non-employee director (routine grants and deferred-compensation conversions are common). Because these are RSUs/phantom shares that vest later and are contingent on continued service, they do not represent an immediate purchase or sale of stock and do not signal an immediate market position change.