Lake Shore Bancorp (LSBK) director awarded 5,237 stock options

Rhea-AI Filing Summary

Lake Shore Bancorp, Inc. director John L. Mehltretter reported a new stock option grant on December 9, 2025. He received 5,237 stock options with a conversion or exercise price of $14.85 per share, expiring on December 9, 2035. These options vest at a rate of 20% per year starting on December 9, 2026.

After this grant, Mehltretter directly holds 18,933 shares of common stock, including 1,005 restricted shares that vest on March 12, 2026, plus an additional 20,000 shares held indirectly through an IRA. He also holds a previous stock option position for 7,468 shares at an exercise price of $7.89 per share, expiring on April 22, 2034, of which 1,493 options vested on April 23, 2025 and 5,975 remain unvested and vest in four equal annual installments beginning on April 23, 2026.

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

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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^*

Mehltretter John L

(Last) (First) (Middle)

C/O 31 EAST FOURTH STREET

(Street)

DUNKIRK NY 14048

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/09/2025

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
Common Stock								18,933(1)	D
Common Stock								20,000	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	12/09/2025		A		5,237		(2)	12/09/2035	Common Stock	5,237	$0	5,237	D
Stock Option (Right to Buy)	$7.89							(3)	04/22/2034	Common Stock	7,468		7,468	D

Explanation of Responses:

1. Includes 1,005 shares of restricted stock which vest on March 12, 2026.

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

3. Includes 1,493 options which vested on April 23, 2025. 5,975 remain unvested and vest in four equal annual installments beginning on April 23, 2026.

	/s/ Taylor M. Gilden, pursuant to power of attorney	01/23/2026
	** 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).
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FAQ

What insider transaction did LSBK director John L. Mehltretter report?

John L. Mehltretter, a director of Lake Shore Bancorp, Inc. (LSBK), reported receiving a grant of 5,237 stock options on December 9, 2025. The options give him the right to buy Lake Shore Bancorp common stock at an exercise price of $14.85 per share and expire on December 9, 2035.

How do the new LSBK stock options granted to the director vest?

The newly granted 5,237 stock options to director John L. Mehltretter vest over time. According to the filing, they vest at a rate of 20% per year, beginning on December 9, 2026, until fully vested by the end of the vesting schedule.

How many shares of Lake Shore Bancorp (LSBK) common stock does the director hold?

After the reported transactions, John L. Mehltretter directly holds 18,933 shares of Lake Shore Bancorp common stock, which includes 1,005 restricted shares that vest on March 12, 2026. He also indirectly holds 20,000 shares through an IRA.

What existing stock options on LSBK shares does the director report holding?

In addition to the new grant, John L. Mehltretter reports holding an existing stock option for 7,468 shares of Lake Shore Bancorp common stock with an exercise price of $7.89 per share, expiring on April 22, 2034. Of these, 1,493 options vested on April 23, 2025, and 5,975 options remain unvested and will vest in four equal annual installments starting on April 23, 2026.

Does the LSBK director hold any restricted stock, and when does it vest?

Yes. The filing states that the director’s direct holdings of 18,933 common shares include 1,005 shares of restricted stock. These restricted shares are scheduled to vest on March 12, 2026, at which point they become fully owned and unrestricted.

How much of the LSBK director’s ownership is held indirectly?

The director holds 20,000 shares of Lake Shore Bancorp common stock indirectly, noted as held "By IRA". These shares are in addition to his direct holdings and are reported separately as indirect beneficial ownership.