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Filing Details

Accession Number:: 0001683168-22-008397
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-12-13 17:55:45
Reporting Period:: 2022-12-12

Accepted Time:: 2022-12-13 17:55:45
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
814586	Lifeway Foods Inc.	LWAY	Dairy Products (2020)	363442829

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1227848	Ludmila Smolyansky	C/O Lifeway Foods, Inc. 6431 Oakton Street Morton Grove IL 60053		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, No Par Value	Disposition	2022-12-12	20,000	$6.68	2,398,120	No	4	S	Indirect	See footnote
Common Stock, No Par Value	Disposition	2022-12-13	10,000	$6.86	2,388,120	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See footnote
No	4	S	Indirect	See Footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, No Par Value	27,343	Indirect	See Footnote

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Restricted Stock Units	$0.00			4,800	4,800	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	4,800	4,800	Direct

Footnotes

The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.62 to $6.73 per share, inclusive. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.75 to $6.98 per share, inclusive. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written 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.
Held by The Smolyansky Family Foundation, of which Ludmila Smolyansky is the trustee
Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 1,600 will vest on each of August 31, 2023, 2024 and 2025, contingent on the Reporting Person's continued service as a Director on each applicable vesting date. The issuance of shares upon vesting of the restricted stock units is dependent on receipt by the Company of consent and agreement by DanoneWave PBC ("Danone") that such issuance will not constitute a breach of violation of or constitute "New Securities" under that certain Stockholders' Agreement, dated as of October 1, 1999, by and among the Corporation, Danone, Michael Smolyansky and the other stockholders of the Corporation listed therein, as amended by that certain letter agreement dated September 24, 1999 and as further amended from time to time.