Lendway Insider Adds Shares via Deferred Compensation Plan Filing

Rhea-AI Filing Summary

Form 4 Overview

On 07/02/2025, Director Chad Bruce Johnson submitted a Form 4 describing an insider transaction dated 06/30/2025 for Lendway, Inc. (ticker: LDWY).

Key Transaction Details

• Security: Common Stock Equivalents (economically equal to one LDWY share each).
• Transaction code: “A” – acquisition under the Deferred Compensation Plan for Directors.
• Quantity acquired: 844 equivalents.
• Reference price: $5.03 per equivalent (as reported in the filing).
• Post-transaction derivative holdings: 12,653 equivalents, owned directly.

Plan Mechanics

The equivalents stem from cash board fees that the director elected to defer. Settlement will occur in LDWY common stock upon separation from service or in cash if a change of control happens earlier.

Investor Relevance

The incremental position (≈ $4.2 thousand) is modest and arises from routine compensation deferral rather than discretionary open-market buying, limiting its signaling value. No shares were sold, so the director’s net exposure increased slightly but the filing is unlikely to affect LDWY’s valuation or liquidity.

Insights

Financial Analyst

TL;DR: Routine, low-dollar insider acquisition—immaterial for investment thesis.

The 844 common-stock equivalents raise the director’s deferred holdings by roughly 7%, yet represent a fraction of a percent of LDWY’s total share base. Because the units were obtained through a standing deferred-comp plan, not open-market purchasing, the transaction provides limited insight into the director’s view of intrinsic value. I consider the disclosure not impactful for near-term price performance or governance risk assessments.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Johnson Chad Bruce

(Last) (First) (Middle)

5000 WEST 36TH STREET, STE 220

(Street)

MINNEAPOLIS MN 55416

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LENDWAY, INC. [ LDWY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Equivalent	(1)	06/30/2025		A		844		(1)	(1)	Common Stock	844	$5.03	12,653	D

Explanation of Responses:

1. Each Common Stock Equivalent is the economic equivalent of one share of Lendway, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Lendway, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Lendway, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

	/s/ Joyce E Kobilka, Attorney-In-Fact	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Lendway (LDWY) disclose in the latest Form 4?

Director Chad Bruce Johnson reported acquiring 844 common stock equivalents under the company’s Deferred Compensation Plan.

How many LDWY shares does the director now beneficially own?

After the transaction, Johnson holds 12,653 common stock equivalents directly.

What price was assigned to the acquired stock equivalents?

The filing lists a reference value of $5.03 per equivalent share.

Was this an open-market purchase or part of a compensation plan?

It was part of the Lendway Deferred Compensation Plan for Directors, not an open-market buy.

When will the stock equivalents be settled?

Settlement occurs in LDWY common stock upon separation from service, or in cash if there is an earlier change in control.