Director Ann M. Segarra adds restricted stock at Lake Shore Bancorp (NASDAQ: LSBK)

Rhea-AI Filing Summary

Lake Shore Bancorp director Ann M. Segarra received a grant of 620 shares of restricted common stock on March 18, 2026, as compensation. These shares vest on March 18, 2027. After the grant, she directly holds 6,692 common shares, including unvested restricted stock.

Footnotes state that this direct position includes 5,058 unvested shares scheduled to vest on December 9, 2026, and the new 620-share award vesting on March 18, 2027. Segarra also holds 81,840 common shares indirectly through an IRA and stock options over 10,749 shares at an exercise price of $14.85 per share, vesting 20% per year starting December 9, 2026 and expiring on December 9, 2035.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Segarra Ann M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	620	$0.00	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 6,692 shares (Direct); Stock Option (Right to Buy) — 10,749 shares (Direct); Common Stock — 81,840 shares (Indirect, By IRA)

Footnotes (1)

1. Shares of restricted stock vest on March 18, 2027. Include 5,058 shares of unvested restricted stock which vest on December 9, 2026, and 620 shares of unvested restricted stock which vest on March 18, 2027. Stock options vest at a rate of 20% per year commencing on December 9, 2026.

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^*

Segarra Ann M

(Last) (First) (Middle)

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)

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

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		620(1)	A	$0.00	6,692(2)	D
Common Stock								81,840	I	By IRA

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)	$14.85							(3)	12/09/2035	Common Stock	10,749		10,749	D

Explanation of Responses:

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

2. Include 5,058 shares of unvested restricted stock which vest on December 9, 2026, and 620 shares of unvested restricted stock which vest on March 18, 2027.

3. Stock options vest at a rate of 20% per year commencing on December 9, 2026.

	/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 insider transaction did Ann M. Segarra report at Lake Shore Bancorp (LSBK)?

Ann M. Segarra reported receiving 620 shares of restricted common stock as a compensation grant on March 18, 2026. The award was recorded at a price of $0.00 per share and is classified as a grant or award acquisition rather than an open-market purchase.

When do Ann M. Segarra’s new restricted Lake Shore Bancorp (LSBK) shares vest?

The 620 newly granted restricted shares vest on March 18, 2027. Footnotes also note 5,058 earlier unvested restricted shares scheduled to vest on December 9, 2026, providing a clear timeline for when these compensation-related equity awards become fully vested common stock.

How many Lake Shore Bancorp (LSBK) shares does Ann M. Segarra hold after this Form 4?

After the grant, Segarra directly holds 6,692 common shares, including unvested restricted stock. She also indirectly holds 81,840 common shares through an IRA, giving her a combined visible equity position in the company across direct and indirect ownership reported in this filing.

What stock options does Ann M. Segarra have for Lake Shore Bancorp (LSBK)?

Segarra holds stock options covering 10,749 shares of common stock with a $14.85 exercise price. These options vest at a rate of 20% per year starting December 9, 2026, and expire on December 9, 2035, representing a long-dated derivative position.

Is Ann M. Segarra’s Lake Shore Bancorp (LSBK) transaction a market purchase or a grant?

The Form 4 shows a grant of 620 restricted shares coded as a grant or award acquisition, not an open-market purchase. The transaction price is $0.00 per share, consistent with equity compensation awarded by the company to a director rather than shares bought in the market.

How significant is the 620-share restricted stock grant for Ann M. Segarra’s LSBK holdings?

The 620-share restricted stock grant adds to an existing position of 6,692 directly held shares and 81,840 indirectly held shares through an IRA. It is a relatively small, routine compensation-related increase compared with her overall reported equity and option holdings in Lake Shore Bancorp.