EVP at Lake Shore Bancorp (LSBK) granted 3,025 restricted shares

Rhea-AI Filing Summary

Lake Shore Bancorp, Inc. executive vice president Jeffrey M. Werdein reported an equity compensation grant of 3,025 shares of Common Stock on March 18, 2026. These shares are unvested restricted stock that were granted at no cash cost and vest in four equal annual installments beginning on the first anniversary of the grant.

After this award, Werdein directly holds 54,557 Common shares and has a fully vested stock option covering 23,132 shares of Common Stock with a $10.62 exercise price, expiring on October 21, 2026. He also reports additional indirect Common Stock holdings through an IRA, an employee stock ownership plan allocation, and family accounts, which reflect ownership structure rather than new transactions.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Werdein Jeffrey M.

Role EVP-Commercial Division

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,025	$0.00	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 54,557 shares (Direct); Stock Option (Right to Buy) — 23,132 shares (Direct); Common Stock — 20,000 shares (Indirect, By IRA)

Footnotes (1)

1. Shares of restricted stock vest on March 18, 2027. Includes 3,025 shares of unvested restricted stock that were granted on March 18, 2026 and vest in four equal annual installments beginning on the first anniversary of the grant. Includes 3,063 remaining shares of unvested restricted stock that were granted on March 12, 2025 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant. Includes 2,575 remaining shares of unvested restricted stock that were granted on April 23, 2024 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant. These shares were acquired pursuant to an Employee Stock Ownership Plan Allocation. Options are fully vested.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

Werdein Jeffrey M.

(Last) (First) (Middle)

C/O 31 EAST FOURTH STREET

(Street)

DUNKIRK NEW YORK 14048

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lake Shore Bancorp, Inc. /MD/ [ LSBK ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP-Commercial Division

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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

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

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

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
Common Stock	03/18/2026		A		3,025(1)	A	$0.00	54,557(2)(3)(4)	D
Common Stock								20,000	I	By IRA
Common Stock								6,510(5)	I	By ESOP
Common Stock								2,000	I	By Spouse
Common Stock								1,056	I	By Son

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
Stock Option (Right to Buy)	$10.62							(6)	10/21/2026	Common Stock	23,132		23,132	D

Explanation of Responses:

1. Shares of restricted stock vest on March 18, 2027.

2. Includes 3,025 shares of unvested restricted stock that were granted on March 18, 2026 and vest in four equal annual installments beginning on the first anniversary of the grant.

3. Includes 3,063 remaining shares of unvested restricted stock that were granted on March 12, 2025 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant.

4. Includes 2,575 remaining shares of unvested restricted stock that were granted on April 23, 2024 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant.

5. These shares were acquired pursuant to an Employee Stock Ownership Plan Allocation.

6. Options are fully vested.

	/s/ Taylor M. Gilden, pursuant to power of attorney	03/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Lake Shore Bancorp (LSBK) report in Jeffrey Werdein’s latest Form 4?

Lake Shore Bancorp reported that EVP Jeffrey M. Werdein received a grant of 3,025 shares of Common Stock as restricted stock on March 18, 2026. The award was granted at no cash cost as part of his equity compensation package.

How many Lake Shore Bancorp (LSBK) shares did Jeffrey Werdein receive and how do they vest?

Jeffrey Werdein received 3,025 shares of restricted Common Stock. According to the filing, these shares vest in four equal annual installments beginning on the first anniversary of the March 18, 2026 grant, tying the award to multi-year service and retention.

What are Jeffrey Werdein’s direct Common Stock holdings in Lake Shore Bancorp (LSBK) after this Form 4?

Following the March 18, 2026 grant, Jeffrey Werdein directly holds 54,557 shares of Lake Shore Bancorp Common Stock. This figure includes unvested restricted stock grants disclosed in the footnotes, reflecting both previously granted and newly awarded restricted shares.

What stock options for Lake Shore Bancorp (LSBK) does Jeffrey Werdein hold?

Jeffrey Werdein holds a fully vested stock option on 23,132 shares of Lake Shore Bancorp Common Stock with an exercise price of $10.62 per share. The option expires on October 21, 2026, giving him the right to purchase those shares at that price until expiration.

Does the Lake Shore Bancorp (LSBK) Form 4 show any stock sales by Jeffrey Werdein?

The Form 4 shows a grant of 3,025 restricted shares to Jeffrey Werdein and several holding entries, but no reported sales. The transaction summary lists one acquisition event and no buy or sell transactions, indicating this filing reflects compensation and positions, not disposals.

What indirect Lake Shore Bancorp (LSBK) holdings are reported for Jeffrey Werdein?

In addition to direct holdings, the filing reports indirect Common Stock positions held by an IRA, an employee stock ownership plan allocation, his spouse, and his son. These entries describe how certain shares are held, rather than new purchases or sales on March 18, 2026.

Are any of Jeffrey Werdein’s Lake Shore Bancorp (LSBK) restricted stock awards still unvested?

Yes. Footnotes state that the 3,025-share grant from March 18, 2026 is unvested and vests over four years, and that remaining unvested shares from grants made in April 2024 and March 2025 continue to vest in four equal annual installments beginning on each grant’s first anniversary.