Lifeway Foods Insider Trading: Director Scher's $396K Sale Follows Recent Dispositions

Rhea-AI Filing Summary

Form 144 Notice of Proposed Sale filed by Lifeway Foods director Jason Scher, indicating intent to sell 16,366 shares of common stock with an aggregate market value of $396,734.75 through Morgan Stanley Smith Barney on NASDAQ.

The securities to be sold were acquired through multiple private transactions as compensation between 2021-2023:

• 3,802 shares each on 07/15/2021, 07/15/2022, and 07/15/2023
• 2,221 shares on 06/20/2021
• 2,739 shares on 06/20/2022

Recent trading activity shows Scher has already sold 8,200 shares for total proceeds of $198,604 through five separate transactions on 06/26/2025. The filing confirms no knowledge of material adverse information regarding Lifeway Foods' operations.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001554866
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	LIFEWAY FOODS INC.
SEC File Number	001-42398
Address of Issuer	6431 West Oakton Morton Grove ILLINOIS 60053
Phone	(847) 967-1010
Name of Person for Whose Account the Securities are To Be Sold	JASON SCHER
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	16366	396734.75	15203241	06/27/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/15/2021	Private Acquisition from Issuer/Affiliate	Issuer			3802	07/15/2021	Compensation
Common	06/20/2021	Private Acquisition from Issuer/Affiliate	Issuer			2221	06/20/2021	Compensation
Common	07/15/2023	Private Acquisition from Issuer/Affiliate	Issuer			3802	07/15/2023	Compensation
Common	07/15/2022	Private Acquisition from Issuer/Affiliate	Issuer			3802	07/15/2022	Compensation
Common	06/20/2022	Private Acquisition from Issuer/Affiliate	Issuer			2739	06/20/2022	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
JASON SCHER 6431 West Oakton Morton Grove IL 60053	Common	06/26/2025	1648	39914.56
JASON SCHER 6431 West Oakton Morton Grove IL 60053	Common	06/26/2025	1647	39890.34
JASON SCHER 6431 West Oakton Morton Grove IL 60053	Common	06/26/2025	2740	66362.80
JASON SCHER 6431 West Oakton Morton Grove IL 60053	Common	06/26/2025	1647	39890.34
JASON SCHER 6431 West Oakton Morton Grove IL 60053	Common	06/26/2025	518	12545.96

144: Remarks and Signature

Remarks
Date of Notice	06/27/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Jason Scher
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many LWAY shares is Director Jason Scher planning to sell according to the Form 144 filed on June 28, 2025?

According to the Form 144, Director Jason Scher plans to sell 16,366 shares of LWAY common stock with an aggregate market value of $396,734.75 through Morgan Stanley Smith Barney LLC.

What is the recent trading activity of LWAY Director Jason Scher in the past 3 months?

On June 26, 2025, Jason Scher sold a total of 8,200 shares of LWAY common stock in five separate transactions, generating total gross proceeds of approximately $198,604. The transactions ranged from 518 to 2,740 shares per sale.

How did LWAY Director Jason Scher acquire the shares he plans to sell?

Jason Scher acquired the shares through multiple compensation grants from Lifeway Foods (the Issuer) between 2021-2023. This includes 3,802 shares each on July 15, 2021, 2022, and 2023, plus 2,221 shares on June 20, 2021 and 2,739 shares on June 20, 2022.

What is the total number of LWAY shares outstanding as of the Form 144 filing?

According to the Form 144 filing dated June 28, 2025, Lifeway Foods (LWAY) has 15,203,241 shares outstanding.

On which exchange will LWAY Director Jason Scher's planned stock sale take place?

The planned sale of LWAY shares will take place on the NASDAQ exchange, with an approximate date of sale listed as June 27, 2025.