Lake Shore Bancorp CEO granted 6,285 restricted shares

LIDDELL KIM C reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

LIDDELL KIM C reported acquisition or exercise transactions in this Form 4 filing.

Lake Shore Bancorp reported that Kim C. Liddell, Dir., President and CEO of the bank, received a grant of 6,285 shares of restricted common stock on March 18, 2026 at a stated price of $0.00 per share as compensation. These restricted shares vest in four equal annual installments beginning on March 18, 2027. Following the grant, Liddell holds 70,998 common shares directly, which include earlier unvested restricted stock awards, and also has indirect ownership of additional shares through a spouse, an IRA, and an ESOP allocation.

Insider Trade Summary

Grant/Award: 6,285 shares

Grant/Award 4 txns

Insider LIDDELL KIM C

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	6,285	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 70,998 shares (Direct); Common Stock — 10,000 shares (Indirect, By Spouse); Common Stock — 41,661 shares (Indirect, By IRA); Common Stock — 677 shares (Indirect, By ESOP)

Footnotes (5)

1. F1. Shares of restricted stock vest in four equal installments beginning on March 18, 2027.
2. F2. Includes 6,363 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. F3. Includes 5,247 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. F4. Includes 6,285 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. F5. These shares were acquired pursuant to an Employee Stock Ownership Plan Allocation.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Lake Shore Bancorp (LSBK) disclose for Kim C. Liddell?

Lake Shore Bancorp disclosed that Kim C. Liddell received a grant of 6,285 shares of restricted common stock on March 18, 2026. The award was recorded at a price of $0.00 per share as part of his compensation package.

How do the new restricted shares for LSBK’s CEO vest over time?

The 6,285 restricted shares granted to LSBK’s CEO vest in four equal annual installments beginning on March 18, 2027. This schedule spreads the benefit over multiple years, encouraging longer-term alignment with the company’s performance.

What are Kim C. Liddell’s direct shareholdings in Lake Shore Bancorp after this Form 4?

After the grant, Kim C. Liddell directly holds 70,998 shares of Lake Shore Bancorp common stock. This total includes several tranches of unvested restricted stock granted in 2024, 2025, and 2026 under multi-year vesting schedules.

Does the Lake Shore Bancorp CEO have indirect ownership interests in LSBK shares?

Yes. In addition to direct holdings, the CEO has indirect interests through shares held by his spouse, an IRA, and an ESOP allocation. These separate accounts collectively represent additional exposure to Lake Shore Bancorp common stock beyond his direct position.

What do the footnotes reveal about unvested restricted stock for LSBK’s CEO?

Footnotes show remaining unvested restricted stock from grants on April 23, 2024 and March 12, 2025, plus the new March 18, 2026 grant. Each grant vests in four annual installments starting on the first anniversary of its grant date.

How were the ESOP shares for the Lake Shore Bancorp CEO acquired?

The filing notes that certain shares are held through an Employee Stock Ownership Plan allocation. These ESOP shares were acquired pursuant to an ESOP allocation rather than open-market purchases, representing an employee benefit-related holding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/20/2026 - 04:30 PM Learn about SEC filing dates

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^*

LIDDELL KIM C

(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)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Dir., Pres. and CEO of Bank

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		6,285(1)	A	$0.00	70,998(2)(3)(4)	D
Common Stock								10,000	I	By Spouse
Common Stock								41,661	I	By IRA
Common Stock								677(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 installments beginning on March 18, 2027.

2. Includes 6,363 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 5,247 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 6,285 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, 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)