Lake Shore Bancorp (LSBK) CFO awarded 3,028 restricted shares with 4-year vesting

Rhea-AI Filing Summary

Gilden Taylor M reported acquisition or exercise transactions in this Form 4 filing.

Lake Shore Bancorp, Inc. CFO and Treasurer Taylor M. Gilden received a grant of 3,028 shares of restricted common stock on March 18, 2026 as compensation, at no cash cost per share. These restricted shares vest in four equal annual installments beginning on March 18, 2027.

After this grant, Gilden directly holds 22,403 common shares, which include earlier unvested restricted stock awards referenced in the footnotes. In addition, 2,522 shares are held indirectly through an IRA and 372 shares are held indirectly through an Employee Stock Ownership Plan allocation.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Gilden Taylor M

Role CFO and Treasurer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,028	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 22,403 shares (Direct); Common Stock — 2,522 shares (Indirect, By IRA)

Footnotes (1)

1. Shares of restricted stock vest in four equal annual installments beginning on March 18, 2027. Includes 2,788 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 4,245 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. Includes 3,028 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. These shares were acquired pursuant to an Employee Stock Ownership Plan Allocation.

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
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^*

Gilden Taylor 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)
	CFO and Treasurer

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		3,028(1)	A	$0.00	22,403(2)(3)(4)	D
Common Stock								2,522	I	By IRA
Common Stock								372(5)	I	By ESOP

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

Explanation of Responses:

1. Shares of restricted stock vest in four equal annual installments beginning on March 18, 2027.

2. Includes 2,788 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.

3. Includes 4,245 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.

4. Includes 3,028 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.

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

	/s/ Taylor M. Gilden	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 insider transaction did Lake Shore Bancorp (LSBK) report for CFO Taylor M. Gilden?

Lake Shore Bancorp reported that CFO Taylor M. Gilden received 3,028 shares of restricted common stock as a grant on March 18, 2026. The grant was at no cash cost per share and represents compensation rather than an open-market share purchase.

How do the new restricted stock awards for LSBK’s CFO vest?

The 3,028 restricted shares granted to Lake Shore Bancorp’s CFO vest in four equal annual installments, starting on March 18, 2027. This means a quarter of the award becomes unrestricted each year over four years, aligning compensation with longer-term service.

How many Lake Shore Bancorp shares does the CFO hold after this Form 4?

Following the March 18, 2026 transaction, the CFO directly holds 22,403 shares of Lake Shore Bancorp common stock. This total includes previously granted unvested restricted stock awards noted in the footnotes, reflecting both current and time-based equity compensation.

What indirect share holdings does the LSBK CFO report?

In addition to direct holdings, the CFO reports 2,522 Lake Shore Bancorp shares held indirectly through an IRA and 372 shares held indirectly through an Employee Stock Ownership Plan allocation. These indirect positions supplement the reported direct common stock ownership.

Is the Lake Shore Bancorp CFO’s Form 4 transaction an open-market buy or a compensation grant?

The reported Form 4 transaction is a compensation grant, not an open-market purchase. The CFO received 3,028 restricted shares at a price of $0.0000 per share, classified as a grant or award acquisition under transaction code A, with multi-year vesting conditions.