Lifeway Foods (LWAY) 10% owner trims stake with 14,353-share sale

Rhea-AI Filing Summary

Lifeway Foods 10% owner Edward Smolyansky reported an open-market sale of 14,353 shares of common stock on March 19, 2026 at a weighted average price of $17.77 per share. The footnotes state the trades occurred between $17.50 and $18.41.

Following the sale, he directly holds 1,101,642 shares. He also has indirect holdings, including shares beneficially held by the Edward Smolyansky Trust dated 2/2/16, and additional shares held by Smolyansky Holding LLC, where he disclaims beneficial ownership except for any pecuniary interest, plus shares held by his son that he fully disclaims.

Insider Trade Summary

Net Seller: 14,353 shares ($255,053)

Net Sell 4 txns

Insider SMOLYANSKY EDWARD

Role 10% Owner

Sold 14,353 shs ($255K)

Type	Security	Shares	Price	Value
Sale	Common Stock, no par value	14,353	$17.77	$255K
holding	Common Stock, no par value	--	--	--
holding	Common Stock, no par value	--	--	--
holding	Common Stock, no par value	--	--	--

Holdings After Transaction: Common Stock, no par value — 1,101,642 shares (Direct); Common Stock, no par value — 1,233,333 shares (Indirect, See footnote)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $17.50 and $18.41, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Beneficially held by the Edward Smolyansky Trust 2/2/16, of which the reporting person is the trustee. The reporting person disclaims beneficial ownership of the shares owned by his son. Held by Smolyansky Holding LLC. The reporting person disclaims beneficial ownership of such shares except to the extent of any pecuniary interest therein.

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^*

SMOLYANSKY EDWARD

(Last) (First) (Middle)

1219 N. WELLS ST.

(Street)

CHICAGO ILLINOIS 60610

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lifeway Foods, Inc. [ LWAY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

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, no par value	03/19/2026		S		14,353	D	$17.77(1)	1,101,642	D
Common Stock, no par value								1,233,333	I	See footnote(2)
Common Stock, no par value								100,000	I	By son(3)
Common Stock, no par value								500,000	I	See footnote(4)

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $17.50 and $18.41, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. Beneficially held by the Edward Smolyansky Trust 2/2/16, of which the reporting person is the trustee.

3. The reporting person disclaims beneficial ownership of the shares owned by his son.

4. Held by Smolyansky Holding LLC. The reporting person disclaims beneficial ownership of such shares except to the extent of any pecuniary interest therein.

	/s/ Edward Smolyansky	03/19/2026
	** 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

How many Lifeway Foods (LWAY) shares did Edward Smolyansky sell in this Form 4?

Edward Smolyansky sold 14,353 shares of Lifeway Foods common stock. The transaction was an open-market sale at a weighted average price of $17.77 per share, with individual trades executed between $17.50 and $18.41, according to the disclosed pricing range.

What price range did Lifeway Foods (LWAY) shares sell for in Edward Smolyansky’s latest transaction?

The reported shares were sold in multiple trades between $17.50 and $18.41 per share. The filing lists a weighted average sale price of $17.77, and notes that full trade-by-trade price details are available upon request from the issuer or the reporting person.

How many Lifeway Foods (LWAY) shares does Edward Smolyansky hold directly after this Form 4 sale?

After the reported sale, Edward Smolyansky directly holds 1,101,642 shares of Lifeway Foods common stock. This figure reflects his remaining direct ownership position as of the transaction date reported in the filing, separate from any indirect or disclaimed holdings.

What indirect Lifeway Foods (LWAY) holdings are associated with Edward Smolyansky?

Indirect holdings include shares beneficially held by the Edward Smolyansky Trust dated 2/2/16, where he serves as trustee, and shares held by Smolyansky Holding LLC. The filing also notes shares owned by his son, for which he disclaims beneficial ownership.

Does Edward Smolyansky disclaim beneficial ownership of any Lifeway Foods (LWAY) shares?

Yes. He disclaims beneficial ownership of shares owned by his son and of shares held by Smolyansky Holding LLC, except to the extent of any pecuniary interest. These disclaimers clarify that some related holdings are not fully attributable to him economically.

What type of transaction is reported for Lifeway Foods (LWAY) in this Form 4?

The Form 4 reports an open-market sale of Lifeway Foods common stock by a 10% owner. It specifies a transaction code of “S,” indicating a sale in the open market or a private transaction, with detailed pricing information provided through a weighted average and price range.