Lake Shore Bancorp, Inc. filings document the company's public-company disclosures as the Maryland holding company for Lake Shore Bank. Current reports record quarterly and annual financial results, cash dividend declarations, share repurchase authorization disclosures, and material agreements affecting governance and board composition.
Proxy materials cover annual meeting matters, director elections, executive compensation and shareholder voting procedures. The filing record also reflects the company's capital structure and corporate-status history following the completed mutual-to-stock conversion and the Bank's conversion to a New York chartered commercial bank.
Gilden Taylor M reported acquisition or exercise transactions in this Form 4 filing.
Lake Shore Bancorp, Inc. CFO and Treasurer Taylor M. Gilden received a grant of 3,028 shares of restricted common stock on March 18, 2026 as compensation, at no cash cost per share. These restricted shares vest in four equal annual installments beginning on March 18, 2027.
After this grant, Gilden directly holds 22,403 common shares, which include earlier unvested restricted stock awards referenced in the footnotes. In addition, 2,522 shares are held indirectly through an IRA and 372 shares are held indirectly through an Employee Stock Ownership Plan allocation.
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.
Lake Shore Bancorp, Inc. executive vice president Jeffrey M. Werdein reported an equity compensation grant of 3,025 shares of Common Stock on March 18, 2026. These shares are unvested restricted stock that were granted at no cash cost and vest in four equal annual installments beginning on the first anniversary of the grant.
After this award, Werdein directly holds 54,557 Common shares and has a fully vested stock option covering 23,132 shares of Common Stock with a $10.62 exercise price, expiring on October 21, 2026. He also reports additional indirect Common Stock holdings through an IRA, an employee stock ownership plan allocation, and family accounts, which reflect ownership structure rather than new transactions.
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.
Lake Shore Bancorp director John L. Mehltretter reported receiving a grant of 667 shares of restricted Common Stock at no cash cost. These shares vest on March 18, 2027. Following the grant, he holds 19,600 Common shares directly and 20,000 shares indirectly through an IRA.
He also holds stock options over 5,237 Common shares with a $14.85 exercise price expiring on December 9, 2035, which vest 20% per year beginning on December 9, 2026, and options over 7,468 shares at $7.89 expiring on April 22, 2034, of which 5,975 are unvested and 1,493 are vested and exercisable.
Lake Shore Bancorp, Inc. director John P. McGrath received an equity grant of 589 shares of common stock as compensation. The shares are restricted stock that will vest on March 18, 2027, meaning he must wait until that date for them to fully become his.
After this award, McGrath holds 10,873 common shares directly, which include the 589 unvested restricted shares, and 79,927 additional shares indirectly through an IRA. He also holds stock options covering 8,220 common shares at an exercise price of $14.85 per share, vesting 20% per year starting December 9, 2026 and expiring in 2035.
Lake Shore Bancorp, Inc. director Kevin M. Sanvidge received an equity award of 893 shares of Common Stock as a grant at no cash cost on March 18, 2026. Following this award, he directly holds 57,324 common shares, which include unvested restricted stock scheduled to vest on December 9, 2026 and March 18, 2027.
He also holds stock options covering 14,563 common shares at an exercise price of 10.6200 per share that are fully vested and expire on October 21, 2026, and options covering 2,570 shares at 7.8900 per share expiring on April 22, 2034, of which 514 are currently vested and exercisable and 2,056 remain unvested. In addition, 3,150 common shares are held indirectly as custodian for his grandchildren.
Lake Shore Bancorp director Michelle M. DeBergalis received a grant of 480 shares of Common Stock as equity compensation. The shares were awarded at no cash cost and are restricted stock scheduled to vest on March 18, 2027. After this grant, she directly holds 8,859 shares of Common Stock, which include previously awarded unvested restricted shares that vest on December 9, 2026 and March 18, 2027. She also holds a stock option covering 8,220 shares of Common Stock at an exercise price of $14.8500 per share, expiring in 2035, with vesting at 20% per year commencing on December 9, 2026. In addition, 157 shares are held indirectly through an IRA.
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.
Lake Shore Bancorp, Inc. and the Stilwell activist group have amended their Schedule 13D to reflect a new standstill agreement and board changes. The group beneficially owns 773,675 shares of common stock, or about 9.9% of the 7,836,100 shares outstanding as of March 11, 2026.
Under a March 17, 2026 standstill agreement, Dennis Pollack, chosen by the Stilwell group, has been appointed to the boards of the company and its bank subsidiary, and the company will nominate and support him at the 2026 annual meeting for a term running to the 2029 annual meeting. In return, the Stilwell group has withdrawn its prior director nomination and shareholder proposal and agreed to extensive standstill restrictions, including limits on proxy solicitations, control efforts, certain M&A actions and further share acquisitions, while maintaining its activist investment aimed at improving perceived undervaluation.