Lake Shore Bancorp (LSBK) director receives 527 restricted shares and holds options

Rhea-AI Filing Summary

Lake Shore Bancorp director Sharon E. Brautigam received an equity grant of 527 shares of common stock on March 18, 2026. The shares are restricted stock that vest on March 18, 2027, so she does not receive them outright until that date.

After this grant, she holds 23,814 common shares directly, which include 893 unvested restricted shares scheduled to vest on December 9, 2026 and the 527 unvested shares vesting on March 18, 2027. She also has indirect holdings of 474 shares held by her spouse and 20,000 shares held by an IRA.

In addition, she holds stock options covering 2,570 shares of common stock at an exercise price of $7.89 per share, expiring on April 22, 2034. Of these options, 514 are vested and exercisable and 2,056 remain unvested, scheduled to vest in equal annual installments beginning one year after the April 23, 2024 grant date.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Brautigam Sharon E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	527	$0.00	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 23,814 shares (Direct); Stock Option (Right to Buy) — 2,570 shares (Direct); Common Stock — 474 shares (Indirect, By Spouse)

Footnotes (1)

1. Shares of restricted stock vest on March 18, 2027. Includes 893 shares of unvested restricted stock which vest on December 9, 2026, and 527 shares of unvested restricted stock which vest on March 18, 2027. Includes 2,056 remaining unvested options which were granted on April 23, 2024 and were scheduled to vest in five equal annual installments beginning on the first anniversary of the grant. 514 options are vested and exercisable.

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^*

Brautigam Sharon E

(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)

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		527(1)	A	$0.00	23,814(2)	D
Common Stock								474	I	By Spouse
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)	$7.89							(3)	04/22/2034	Common Stock	2,570		2,570	D

Explanation of Responses:

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

2. Includes 893 shares of unvested restricted stock which vest on December 9, 2026, and 527 shares of unvested restricted stock which vest on March 18, 2027.

3. Includes 2,056 remaining unvested options which were granted on April 23, 2024 and were scheduled to vest in five equal annual installments beginning on the first anniversary of the grant. 514 options are vested and exercisable.

	/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 did Lake Shore Bancorp (LSBK) director Sharon Brautigam receive in this Form 4 filing?

Sharon Brautigam received a grant of 527 shares of restricted common stock on March 18, 2026. These shares are part of her equity compensation and will vest after one year, rather than being immediately available for sale or transfer.

When do Sharon Brautigam’s new restricted Lake Shore Bancorp (LSBK) shares vest?

The 527 newly granted restricted shares vest on March 18, 2027. She also has 893 previously granted unvested restricted shares that are scheduled to vest on December 9, 2026, creating a staggered vesting schedule across two future dates.

How many Lake Shore Bancorp (LSBK) shares does Sharon Brautigam hold after this transaction?

Following the grant, she holds 23,814 common shares directly, including unvested restricted stock. She also has indirect ownership of 474 shares held by her spouse and 20,000 shares held through an IRA, as disclosed in the Form 4.

What stock options does Sharon Brautigam have in Lake Shore Bancorp (LSBK)?

She holds stock options on 2,570 shares of common stock with a $7.89 exercise price, expiring April 22, 2034. Of these, 514 options are currently vested and exercisable, while 2,056 remain unvested and will vest in five equal annual installments.

Is Sharon Brautigam’s Form 4 transaction a market purchase or sale of LSBK shares?

The Form 4 reports a grant of 527 restricted shares as compensation, not an open-market purchase or sale. The transaction code identifies it as a grant or award, and the price per share is shown as zero, reflecting non-cash compensation.

How significant is this Lake Shore Bancorp (LSBK) equity grant for Sharon Brautigam’s holdings?

The 527-share restricted stock grant modestly increases her direct holdings to 23,814 shares. In addition, she maintains indirect stakes via her spouse and IRA, and retains a sizeable stock option position, reinforcing a multi-layered equity exposure to the company.