Lake Shore Bancorp (LSBK) awards director new restricted stock, options

Rhea-AI Filing Summary

Lake Shore Bancorp, Inc. director Michelle M. DeBergalis reported new equity awards. On December 9, 2025, she received 3,868 shares of common stock at $0.00 per share as restricted stock, bringing her directly held common shares to 8,379, plus 157 shares held indirectly through an IRA. The filing notes these 3,868 restricted shares vest on December 9, 2026, and that her total direct holdings include an additional 647 restricted shares vesting on March 12, 2026.

She was also granted a stock option for 8,220 shares with an 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, which means the right to exercise them builds gradually over time.

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

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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^*

DeBergalis Michelle M

(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	12/09/2025		A		3,868(1)	A	$0.00	8,379(2)	D
Common Stock								157	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		8,220		(3)	12/09/2035	Common Stock	8,220	$0	8,220	D

Explanation of Responses:

1. Shares of restricted stock vest on December 9, 2026.

2. Includes 647 shares of restricted stock which vest on March 12, 2026 and 3,868 shares of restricted stock which vest on December 9, 2026.

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	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 did LSBK director Michelle M. DeBergalis receive in this Form 4 filing?

Michelle M. DeBergalis reported receiving 3,868 restricted shares of Lake Shore Bancorp common stock at $0.00 per share and a stock option for 8,220 shares with an exercise price of $14.85 per share, both dated December 9, 2025.

How many Lake Shore Bancorp (LSBK) shares does the director own after the reported transactions?

After the reported grant, Michelle M. DeBergalis directly beneficially owns 8,379 shares of common stock and indirectly owns 157 shares through an IRA, according to the filing.

When do the restricted LSBK shares reported by the director vest?

The 3,868 restricted shares granted on December 9, 2025 vest on December 9, 2026. Her direct holdings also include 647 restricted shares that vest on March 12, 2026, as described in the footnotes.

What are the key terms of the stock options granted to the LSBK director?

The filing shows a grant of a stock option for 8,220 shares of Lake Shore Bancorp common stock with an exercise price of $14.85 per share, expiring on December 9, 2035. The options vest at 20% per year starting on December 9, 2026.

Are any of the LSBK shares in this Form 4 held indirectly?

Yes. The Form 4 reports 157 shares of common stock held indirectly by Michelle M. DeBergalis through an IRA, in addition to her directly held shares.

Does the Form 4 indicate these LSBK transactions were purchases or grants?

The transactions are coded as "A" (acquired) with a price of $0.00 per share for both the restricted stock and the option, indicating they are equity awards rather than open-market purchases.