Lifeway (LWAY) Director Jason Scher Converts 1,550 RSUs

What Happened Jason Scott Scher, a director of Lifeway Foods, reported the conversion on Aug 31, 2026 of 1,550 restricted stock units (RSUs) into 1,550 shares of phantom stock. The Form 4 shows both a disposition of 1,550 RSUs and an acquisition of 1,550 derivative shares (transaction code M). No cash price is reported (N/A) — this was an in-kind conversion/deferral rather than an open-market buy or sell.

Key Details

• Transaction date: 2026-08-31; Form 4 filed: 2026-09-02 (appears timely).
• Transaction code: M (exercise or conversion of a derivative). Reported quantities: disposition of 1,550 RSUs and acquisition of 1,550 phantom shares; price: N/A.
• Shares owned after transaction: not disclosed in the provided filing.
• Relevant footnotes: F3 notes the RSUs vested on Aug 31, 2026; F7 explains the vested RSUs were deferred and exchanged for phantom stock under the Company’s Non-Employee Director Equity and Deferred Compensation Plan; F6 clarifies each phantom share represents a right to one common share payable when the director leaves the board.
• This was not a purchase or sale of common stock; it’s a deferral/conversion of compensation.

Context Phantom stock is deferred compensation that tracks share value but does not immediately transfer common shares — it becomes payable later (here, when the director stops serving). Converting vested RSUs into phantom stock is typically an administrative/compensation election and does not by itself signal a buy or sell decision in the market.