Lifeway Foods (LWAY) director boosts equity stake with RSU grant and exercise

Rhea-AI Filing Summary

Lifeway Foods director Dorri McWhorter reported equity compensation activity and updated holdings. She received a grant of 2,038 Restricted Stock Units (RSUs), each representing a contingent right to one share of common stock. She also exercised 1,356 RSUs into common stock at an exercise price of $0.00 per share.

Following these transactions, McWhorter directly holds 27,292 shares of common stock and retains unvested RSUs tied to continued board service. Footnotes state that certain RSUs vest on August 31, 2026, December 30, 2026, and July 1, 2027, aligning ongoing compensation with her future service as a director.

Insights

Equity compensation analyst

Routine director equity grant and RSU exercise with no share sales.

Dorri McWhorter, a director of Lifeway Foods, received 2,038 RSUs and exercised 1,356 RSUs into common stock at $0.00 per share. These are standard equity compensation mechanisms that increase her direct ownership without any open-market buying or selling.

After these events she holds 27,292 common shares directly, plus deferred equity via RSUs representing 1,551 and 2,512 underlying shares. Footnotes show vesting dates on August 31, 2026, December 30, 2026, and July 1, 2027, contingent on her continued board service.

The filing shows no dispositions, gifts, or tax-withholding sales, so the net effect is increased alignment between McWhorter and shareholders through larger equity-based compensation and future service-linked vesting. Overall, this appears to be routine governance and compensation activity rather than a directional signal about the company’s prospects.

Insider Trade Summary

1,356 shares exercised/converted

Mixed 5 txns

Insider McWhorter Dorri

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,356	$0.00	--
Grant/Award	Restricted Stock Units	2,038	$0.00	--
Exercise	Common Stock, no par value	1,356	$0.00	--
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--

Holdings After Transaction: Restricted Stock Units — 1,354 shares (Direct); Common Stock, no par value — 27,292 shares (Direct)

Footnotes (1)

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock. The RSUs vest on December 30, 2026 contingent on the Reporting Person's continued service as a Director on such vesting date. The remaining RSUs will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on such vesting date. The remaining RSUs will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on such vesting date. The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

Key Figures

RSU grant: 2,038 units RSUs exercised: 1,356 units Exercise price: $0.00 per share +3 more

6 metrics

RSU grant 2,038 units Restricted Stock Units granted to director on July 1, 2026

RSUs exercised 1,356 units RSUs converted into common stock on July 1, 2026

Exercise price $0.00 per share Price for RSU-to-common-stock conversion

Common shares held 27,292 shares Direct common stock ownership after transactions

Unvested RSUs block 1 1,551 underlying shares Remaining RSUs, direct ownership

Unvested RSUs block 2 2,512 underlying shares Additional RSUs, direct ownership

Key Terms

Restricted Stock Units, contingent right, Exercise or conversion of derivative security, Grant, award, or other acquisition, +1 more

5 terms

Restricted Stock Units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

contingent right financial

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

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

vesting financial

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

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 05:00 PM Accepted by SEC EDGAR 07/02/2026 - 05:00 PM Learn about SEC filing dates

FAQ

What insider transactions did Dorri McWhorter report for Lifeway Foods (LWAY)?

Dorri McWhorter reported receiving 2,038 Restricted Stock Units (RSUs) and exercising 1,356 RSUs into common stock at $0.00 per share. The filing shows equity compensation activity only, with no open-market purchases or sales disclosed in these transactions.

How many Lifeway Foods (LWAY) shares does Dorri McWhorter hold after this Form 4?

After these transactions, Dorri McWhorter directly holds 27,292 shares of Lifeway Foods common stock. This reflects the exercise of 1,356 RSUs into shares and updated post-transaction holdings, as disclosed in the non-derivative ownership table of the Form 4 filing.

What Restricted Stock Units did Dorri McWhorter receive from Lifeway Foods (LWAY)?

McWhorter received a grant of 2,038 Restricted Stock Units, each representing a contingent right to one share of common stock. These RSUs vest based on continued service as a director, with specific vesting dates in 2026 and 2027 outlined in the Form 4 footnotes.

Were any Lifeway Foods (LWAY) shares sold in Dorri McWhorter’s latest Form 4?

No sales were reported. The filing shows an exercise of 1,356 RSUs into common stock and a 2,038 RSU grant, but the transaction summary lists zero sell transactions, indicating no open-market or other share dispositions in this report.

When do Dorri McWhorter’s Lifeway Foods (LWAY) RSUs vest?

Footnotes state that certain RSUs vest on August 31, 2026, December 30, 2026, and July 1, 2027, contingent on her continued service as a director. These vesting schedules align her compensation with ongoing board tenure at Lifeway Foods.

What derivative positions does Dorri McWhorter still hold in Lifeway Foods (LWAY)?

The derivative summary shows remaining Restricted Stock Units linked to 1,551 and 2,512 underlying shares of common stock. These RSUs have an exercise price of $0.00 and vest on future dates, subject to 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

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^*

McWhorter Dorri

(Last) (First) (Middle)

C/O LIFEWAY FOODS, INC.

6431 OAKTON STREET

(Street)

MORTON GROVE ILLINOIS 60053

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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	07/01/2026		M		1,356	A	(3)	27,292	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)							(3)	(3)	Common Stock	1,551		1,550	D
Restricted Stock Units	(1)	07/01/2026		M			1,356	(4)	(4)	Common Stock	1,356	(4)	1,354	D
Restricted Stock Units	(1)	07/01/2026		A		2,038		(5)	(5)	Common Stock	2,038	(5)	2,038	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 remaining RSUs will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on such vesting date.

4. The remaining RSUs will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on such vesting date.

5. The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

	/s/ Eric Hanson, as attorney-in-fact	07/02/2026
	** 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)