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Lifeway Foods, Inc.·4

Jul 2, 5:00 PM ET

SCHER JASON SCOTT 4

4 · Lifeway Foods, Inc. · Filed Jul 2, 2026

Research Summary

AI-generated summary of this filing

Updated

Lifeway (LWAY) Director Jason Scher Receives RSUs, Converts 1,356 to Phantom

What happened

  • Jason Scott Scher, a Lifeway Foods (LWAY) director, received equity awards and converted vested restricted stock units (RSUs) into phantom stock. The filing shows RSU grants of 828 shares (6/30/2026) and 2,038 shares (7/1/2026), and a conversion on 7/1/2026 of 1,356 vested RSUs into 1,356 shares of phantom stock under the company’s Non‑Employee Director Equity and Deferred Compensation Plan. No cash prices are reported (N/A).

Key details

  • Transaction dates: 2026-06-30 (grant of 828 RSUs); 2026-07-01 (grant of 2,038 RSUs; conversion/exchange of 1,356 RSUs to 1,356 phantom shares).
  • Prices: N/A (awards/conversions, not open‑market trades).
  • Shares reported granted: 2,866 RSUs total (828 + 2,038). Converted: 1,356 RSUs exchanged for 1,356 phantom shares.
  • Shares owned after transaction: not specified in the filing.
  • Notable footnotes:
    • Each RSU = right to one common share (F1).
    • Phantom stock = right to one common share payable when the director leaves service (F6).
    • The 1,356 phantom shares reported were received in lieu of vested RSUs (deferred) under the Director Plan (F8). The filing also notes phantom shares can be acquired by deferral of cash compensation (F7).
    • Remaining RSUs vest on various future dates (Dec 30, 2026; Aug 31, 2026; Jul 1, 2027) as specified in the footnotes (F2–F5).
  • Filing timeliness: Report filed 2026-07-02 for activity through 2026-06-30/07-01 — no late filing flag noted.

Context

  • These transactions are awards and internal conversions (derivative instruments), not open‑market purchases or sales. RSU grants and conversions into phantom stock are common director compensation and deferral mechanisms; phantom shares are bookkeeping rights that pay out in the future rather than current shares available for sale. Such transactions are routine and reflect compensation/deferral choices rather than immediate market buying or selling.

Insider Transaction Report

Form 4
Period: 2026-06-30
Lifeway Foods, Inc.LWAY
SCHER JASON SCOTT
Director
Transactions
  • Exercise/Conversion

    Restricted Stock Units

    [F1][F4]
    2026-07-01−1,356→ 1,354 total
    → Common Stock (1,356 underlying)
  • Award

    Restricted Stock Units

    [F1][F5]
    2026-07-01+2,038→ 2,038 total
    → Common Stock (2,038 underlying)
  • Award

    Phantom Stock

    [F6][F7]
    2026-06-30+828→ 81,702 total
    → Common Stock (828 underlying)
  • Exercise/Conversion

    Phantom Stock

    [F6][F8]
    2026-07-01+1,356→ 83,058 total
    → Common Stock (1,356 underlying)
Holdings

  • Common Stock, no par value

    1

  • Restricted Stock Units

    [F1][F2]
    → Common Stock (2,512 underlying)
    2,512

  • Restricted Stock Units

    [F1][F3]
    → Common Stock (1,550 underlying)
    1,550
Footnotes (8)
  • [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.
  • [F2]The RSUs vest on December 30, 2026 contingent on the Reporting Person's continued service as a Director on such vesting date.
  • [F3]The remaining RSUs will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on such vesting date.
  • [F4]The remaining RSUs will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on such vesting date.
  • [F5]The RSUs vest on July 1, 2027 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. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.
  • [F7]The acquired shares of phantom stock were acquired upon deferral of the Reporting Person's cash compensation for service on the Board of Directors in the quarter ended June 30, 2026 pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan (the "Director Plan").
  • [F8]In connection with the vesting on July 1, 2026 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 1,356 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 1,356 shares of phantom stock pursuant to the Director Plan. The Reporting Person is therefore reporting the disposition of 1,356 RSUs in exchange for an equal number of shares of phantom stock.
Signature
/s/ Eric Hanson, as attorney-in-fact|2026-07-02

Documents

1 file
  • 4
    ownership.xmlPrimary