Who executed the Lifeway Foods (LWAY) share sale disclosed in the Form 4?

The sale was executed by the Ludmila Smolyansky Trust dated 2/1/05, for which Ludmila Smolyansky serves as trustee. The Form 4 identifies this trust as the indirect owner of the shares involved in the transaction.

Lifeway Foods (LWAY) insider trust sells 20,000 shares at $24.02 average

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Lifeway Foods insider Ludmila Smolyansky, through the Ludmila Smolyansky Trust dated 2/1/05, reported an open-market sale of 20,000 shares of Lifeway Foods common stock. The shares were sold at a weighted average price of $24.02 across trades between $23.50 and $24.49. After this transaction, the trust’s reported indirect holdings total 692,823 shares of Lifeway Foods common stock.

Insider Trade Summary

Net Seller: 20,000 shares ($480,400)

Net Sell 1 txn

Insider SMOLYANSKY LUDMILA

Role null

Sold 20,000 shs ($480K)

Type	Security	Shares	Price	Value
Sale	Common Stock, no par value	20,000	$24.02	$480K

Holdings After Transaction: Common Stock, no par value — 692,823 shares (Indirect, See footnote)

Footnotes (1)

See price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $23.50 and $24.49, 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. Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

Key Figures

Shares sold: 20,000 shares Weighted average sale price: $24.02 per share Sale price range: $23.50–$24.49 per share +1 more

4 metrics

Shares sold 20,000 shares Open-market sale of common stock

Weighted average sale price $24.02 per share Sale price for 20,000 shares

Sale price range $23.50–$24.49 per share Range of prices across multiple trades

Shares held after transaction 692,823 shares Indirect holdings by Ludmila Smolyansky Trust after sale

Key Terms

open-market sale, weighted average price, indirect ownership, trustee

4 terms

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"price reported in Column 4 is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

indirect ownership financial

"direct_or_indirect: I, ownership_type: indirect"

trustee financial

"of which Ludmila Smolyansky is the trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

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Form 4 Insider Transactions: What Each Field Means →

06/11/2026 - 03:46 PM

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 LUDMILA

(Last)

(First)

(Middle)

C/O EDWARD SMOLYANSKY

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		10% Owner
Officer (give title below)	X	Other (specify below)
		Member of 10% owner group

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value	06/10/2026		S		20,000	D	$24.02⁽¹⁾	692,823	I	See footnote⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. See price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $23.50 and $24.49, 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. Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

	/s/ Ludmila Smolyansky	06/11/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

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

Lifeway Foods reported that Ludmila Smolyansky, via the Ludmila Smolyansky Trust, sold 20,000 shares of common stock. The transaction was an open-market sale and reflects a routine adjustment of an existing indirect position.

At what price were the Lifeway Foods (LWAY) shares sold in the reported trade?

The 20,000 Lifeway Foods shares were sold at a weighted average price of $24.02. Individual trades occurred in a price range between $23.50 and $24.49, according to the Form 4 footnote disclosure.

How many Lifeway Foods (LWAY) shares does the reporting trust hold after the sale?

Following the reported sale, the Ludmila Smolyansky Trust holds 692,823 shares of Lifeway Foods common stock indirectly. This post-transaction holding figure is disclosed in the Form 4 as the total shares following the transaction.

Was the Lifeway Foods (LWAY) transaction a buy or a sell by the insider?

The Form 4 reports a sell transaction by the insider’s trust. It characterizes the event as an open-market sale of 20,000 shares of Lifeway Foods common stock at a weighted average price of $24.02 per share.