Lifeway Foods (LWAY) 10% owner sells 35,647 shares in open market

Rhea-AI Filing Summary

Lifeway Foods, Inc. 10% owner Edward Smolyansky reported open-market sales of common stock. He sold 13,334 shares on March 16, 2026 at a weighted average price of $20.60 per share and 22,313 shares on March 17, 2026 at a weighted average price of $20.10 per share, for total reported sales of 35,647 shares. Following these transactions, he holds 1,115,995 shares directly. The filing also notes additional indirect holdings through a trust and an LLC, while shares held by a family foundation and by his son are specifically disclaimed for beneficial ownership.

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^*

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)
03/16/2026

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	03/16/2026		S		13,334	D	$20.6(1)	1,138,308	D
Common Stock, no par value	03/17/2026		S		22,313	D	$20.1(2)	1,115,995	D
Common Stock, no par value								1,233,333	I	See footnote(3)
Common Stock, no par value								100,000	I	By son(4)
Common Stock, no par value								500,000	I	See footnote(5)

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 $20.04 and $21.03, 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 ranges set forth in this footnote 1 and footnote 2. This Form 4 excludes 67,657 shares held by The Ludmila and Edward Smolyansky Family Foundation, of which the reporting person and his spouse are directors. The reporting person has no pecuniary intererst, direct or indirect, in such shares.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $20.00 and $20.99, inclusive.

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

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

5. 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	03/18/2026
	** 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 insider activity did Edward Smolyansky report in Lifeway Foods (LWAY) Form 4?

Edward Smolyansky reported selling Lifeway Foods common stock in open-market transactions. He executed two sales totaling 35,647 shares, reflecting routine liquidity activity, while remaining a large shareholder with over 1.1 million shares held directly after the reported trades.

How many Lifeway Foods (LWAY) shares did Edward Smolyansky sell and at what prices?

He sold 13,334 shares at a weighted average price of $20.60 and 22,313 shares at a weighted average price of $20.10. Footnotes state these were executed across multiple trades within price ranges between $20.00 and $21.03, inclusive.

What is Edward Smolyansky’s direct ownership in Lifeway Foods (LWAY) after these sales?

After the reported transactions, Edward Smolyansky directly owns 1,115,995 shares of Lifeway Foods common stock. This figure reflects his remaining direct stake following the open-market sales totaling 35,647 shares disclosed in the Form 4 filing.

Were the Lifeway Foods (LWAY) insider transactions open-market sales?

Yes. The Form 4 characterizes both transactions as open-market sales of Lifeway Foods common stock. The transaction code is “S,” described as a sale in open market or private transaction, with weighted average prices disclosed and detailed price ranges provided in the footnotes.

What indirect Lifeway Foods (LWAY) holdings related to Edward Smolyansky are disclosed?

The filing shows indirect holdings through the Edward Smolyansky Trust 2/2/16 and Smolyansky Holding LLC. It also notes shares held by his son and by the Ludmila and Edward Smolyansky Family Foundation, for which he disclaims beneficial ownership or pecuniary interest as described.

Does Edward Smolyansky hold any Lifeway Foods (LWAY) derivative securities in this Form 4?

No derivative securities are listed in this Form 4. The derivative section is empty, and all reported positions relate to Lifeway Foods common stock, indicating the activity involves only non-derivative equity holdings in this particular filing.