Lifeway Foods (LWAY) director reports RSU vesting and 25,936 shares

Rhea-AI Filing Summary

Lifeway Foods director Dorri McWhorter reported equity award activity involving restricted stock units and common shares. On January 10, 2026, 3,151 shares of Lifeway Foods common stock were acquired following the vesting and settlement of previously granted restricted stock units, bringing her directly held common stock to 25,936 shares.

The filing also shows she continues to hold 2,512 restricted stock units scheduled to vest on December 30, 2026, and 2,710 restricted stock units scheduled to vest in two installments on July 1, 2026 and July 1, 2027, all contingent on her continued service as a director.

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^*

McWhorter Dorri

(Last) (First) (Middle)

C/O LIFEWAY FOODS, INC.

6431 OAKTON STREET

(Street)

MORTON GROVE IL 60053

(City) (State) (Zip)

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

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)
01/10/2026

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, no par value	01/10/2026		M		3,151	A	(3)(4)	25,936	D

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
Restricted Stock Units	(1)							(2)	(2)	Common Stock	2,512		2,512	D
Restricted Stock Units	(1)	01/10/2026		M			1,600	(3)	(3)	Common Stock	1,600	(3)	0	D
Restricted Stock Units	(1)	01/10/2026		M			1,551	(4)	(4)	Common Stock	1,551	(4)	1,550	D
Restricted Stock Units	(1)							(5)	(5)	Common Stock	2,710		2,710	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

2. The RSUs vest on December 30, 2026 contingent on the Reporting Person's continued service as a Director on such vesting date.

3. The RSUs vested on August 31, 2025. The underlying shares of common stock were delivered on January 10, 2026.

4. Of such RSUs, 1,551 vested on August 31, 2025. The underlying shares of common stock were delivered on January 10, 2026. The remaining 1,550 RSUs will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.

5. Of such RSUs, 1,356 will vest on July 1, 2026 and 1,354 will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on each applicable vesting date.

	/s/ Eric Hanson, as attorney-in-fact	01/12/2026
	** 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).
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FAQ

What insider activity did Lifeway Foods (LWAY) report in this Form 4?

The Form 4 reports that director Dorri McWhorter acquired 3,151 shares of Lifeway Foods common stock on January 10, 2026 through the settlement of previously granted restricted stock units.

How many Lifeway Foods shares does the director own after the reported transactions?

After the January 10, 2026 transactions, director Dorri McWhorter directly beneficially owns 25,936 shares of Lifeway Foods common stock.

What restricted stock units (RSUs) vested for the Lifeway Foods director?

RSUs that had vested on August 31, 2025 converted into common shares delivered on January 10, 2026, including 1,600 and 1,551 restricted stock units that were settled into shares.

What future RSU vesting does the Lifeway Foods Form 4 disclose?

The filing states that 2,512 RSUs vest on December 30, 2026, and of another RSU grant, 1,356 units vest on July 1, 2026 and 1,354 units vest on July 1, 2027, contingent on continued board service.

Does this Lifeway Foods Form 4 involve stock options or restricted stock units?

The activity involves restricted stock units (RSUs), each representing a contingent right to receive one share of Lifeway Foods common stock, which vest and are then delivered as shares.

Is the reported ownership in Lifeway Foods held directly or indirectly by the director?

The Form 4 indicates that the 25,936 common shares and all reported restricted stock units are held with direct beneficial ownership by director Dorri McWhorter.