[Form 4] LENDWAY, INC. Insider Trading Activity

Rhea-AI Filing Summary

Chad Bruce Johnson, a director of Lendway, Inc. (LDWY), reported an acquisition on 09/30/2025 of 779 common stock equivalents under the company's Deferred Compensation Plan for Directors at an economic price of $5.4523 per equivalent. After the transaction, Mr. Johnson beneficially owns 13,432 shares (direct). The filing states these common stock equivalents will be settled in common stock upon separation from service or in cash upon an earlier change in control. The Form 4 was signed by an attorney-in-fact, Joyce E. Kobilka, on 10/02/2025.

Positive

• Director elected equity compensation by acquiring 779 common stock equivalents
• Beneficial ownership increased to 13,432 shares, indicating greater insider alignment

Negative

• None.

Insights

Corporate Governance Analyst

Director deferred fees into 779 stock equivalents, increasing direct holdings to 13,432.

What it means: The director elected to receive compensation in the form of common stock equivalents under the company deferred compensation plan, which aligns the director's economic exposure with shareholders because the equivalents convert to common stock at separation or cash on change in control.

Why it matters: This action increases the director's direct economic stake to 13,432 shares and signals preference for equity-linked compensation rather than immediate cash, a governance detail investors track when assessing insider alignment with long-term shareholder value.

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).

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)
09/30/2025

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)	09/30/2025		A		779		(1)	(1)	Common Stock	779	$5.4523	13,432	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	10/02/2025
	** 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 transaction did the LDWY Form 4 report?

The Form 4 reports a 09/30/2025 acquisition of 779 common stock equivalents by director Chad Bruce Johnson at an economic price of $5.4523 per equivalent.

How many LDWY shares does the reporting person own after the transaction?

After the reported transaction, the reporting person beneficially owns 13,432 shares (direct ownership).

Under what plan were the common stock equivalents acquired?

They were acquired pursuant to the Lendway, Inc. Deferred Compensation Plan for Directors, where directors may defer cash fees into common stock equivalents.

How will the common stock equivalents be settled?

The filing states equivalents will be settled in common stock upon separation from service or in cash upon an earlier change in control.

Who signed the Form 4 and when?

The Form 4 was signed by attorney-in-fact Joyce E. Kobilka on 10/02/2025.