Smolyansky trust sells 15K Lifeway Foods (LWAY) shares

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Lifeway Foods insider filing reports an open-market sale by a trust associated with Ludmila Smolyansky. The Ludmila Smolyansky Trust 2/1/05 sold 15,000 shares of Lifeway Foods common stock at $26.50 per share on April 20, 2026.

After this transaction, the trust continues to hold 732,823 shares indirectly for her benefit. The filing also notes that shares held by The Smolyansky Family Foundation and The Ludmila and Edward Smolyansky Family Foundation are excluded because she has no direct or indirect pecuniary interest in those holdings.

Insider Trade Summary

Net Seller: 15,000 shares ($397,500)

Net Sell 1 txn

Insider SMOLYANSKY LUDMILA

Role null

Sold 15,000 shs ($398K)

Type	Security	Shares	Price	Value
Sale	Common Stock, no par value	15,000	$26.50	$398K

Holdings After Transaction: Common Stock, no par value — 732,823 shares (Indirect, See footnote)

Footnotes (1)

This Form 4 excludes shares held by The Smolyansky Family Foundation and by The Ludmila and Edward Smolyansky Family Foundation; the reporting person has no pecuniary intererst, direct or indirect, in such shares. Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

Key Figures

Shares sold: 15,000 shares Sale price: $26.50 per share Shares held after sale: 732,823 shares +1 more

4 metrics

Shares sold 15,000 shares Open-market sale on April 20, 2026

Sale price $26.50 per share Price for the 15,000 shares sold

Shares held after sale 732,823 shares Indirect holdings after the reported transaction

Net shares sold 15,000 shares Net change in reported non-derivative holdings

Key Terms

open-market sale, indirect ownership, pecuniary interest, trustee

4 terms

open-market sale financial

"reports an open-market sale by a trust associated"

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.

indirect ownership financial

"the trust continues to hold 732,823 shares indirectly"

pecuniary interest financial

"she has no pecuniary intererst, direct or indirect, in such shares"

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.

Form 4 Insider Transactions: What Each Field Means →

04/22/2026 - 08:45 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)
04/20/2026

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	04/20/2026		S		15,000	D	$26.5⁽¹⁾	732,823	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. This Form 4 excludes shares held by The Smolyansky Family Foundation and by The Ludmila and Edward Smolyansky Family Foundation; the reporting person has no pecuniary intererst, direct or indirect, in such shares.

2. Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

	/s/ Ludmila Smolyansky	04/21/2026
	** 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 Ludmila Smolyansky report at Lifeway Foods (LWAY)?

Ludmila Smolyansky reported an indirect open-market sale of 15,000 Lifeway Foods shares at $26.50 each on April 20, 2026, executed through the Ludmila Smolyansky Trust 2/1/05, where she serves as trustee and beneficial owner.

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

After selling 15,000 shares, the Ludmila Smolyansky Trust 2/1/05 holds 732,823 Lifeway Foods common shares indirectly for her benefit, according to the Form 4. This figure reflects the position immediately following the reported April 20, 2026 transaction.

Was the Lifeway Foods (LWAY) insider sale a direct or indirect holding for Ludmila Smolyansky?

The reported Lifeway Foods transaction involved indirect ownership. The 15,000 shares sold were held by the Ludmila Smolyansky Trust 2/1/05, where she is trustee. The Form 4 classifies the ownership as indirect and references a footnote for this trust structure.

Does Ludmila Smolyansky have an interest in Smolyansky family foundation shares of Lifeway Foods (LWAY)?

The filing states that shares held by The Smolyansky Family Foundation and The Ludmila and Edward Smolyansky Family Foundation are excluded because Ludmila Smolyansky has no direct or indirect pecuniary interest in those Lifeway Foods shares, meaning they are not counted in her reported holdings.

At what price were the Lifeway Foods (LWAY) shares sold in this Form 4 transaction?

The Form 4 reports that 15,000 shares of Lifeway Foods common stock were sold at $26.50 per share. This transaction price reflects the per-share value for the April 20, 2026 open-market sale executed through the Ludmila Smolyansky Trust 2/1/05.