0001683168-22-006153.txt : 20220902 0001683168-22-006153.hdr.sgml : 20220902 20220902131405 ACCESSION NUMBER: 0001683168-22-006153 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220831 FILED AS OF DATE: 20220902 DATE AS OF CHANGE: 20220902 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SCHER JASON SCOTT CENTRAL INDEX KEY: 0001554866 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-17363 FILM NUMBER: 221224247 MAIL ADDRESS: STREET 1: 6431 WEST OAKTON STREET CITY: MORTON GROVE STATE: IL ZIP: 60053 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Lifeway Foods, Inc. CENTRAL INDEX KEY: 0000814586 STANDARD INDUSTRIAL CLASSIFICATION: DAIRY PRODUCTS [2020] IRS NUMBER: 363442829 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 6431 W OAKTON CITY: MORTON GROVE STATE: IL ZIP: 60053 BUSINESS PHONE: 847-967-1010 MAIL ADDRESS: STREET 1: 6431 W OAKTON CITY: MORTON GROVE STATE: IL ZIP: 60053 FORMER COMPANY: FORMER CONFORMED NAME: LIFEWAY FOODS INC DATE OF NAME CHANGE: 19920703 4 1 ownership.xml X0306 4 2022-08-31 0 0000814586 Lifeway Foods, Inc. LWAY 0001554866 SCHER JASON SCOTT C/O LIFEWAY FOODS, INC. 6431 OAKTON STREET MORTON GROVE IL 60053 1 0 0 0 Common stock, no par value 24567 D Restricted Stock Units Common Stock 40625 40625 D Restricted Stock Units 2022-08-31 4 A 0 4800 0 A Common Stock 4800 4800 D Includes a time-based restricted stock award of which 3,802 shares will vest on July 15, 2023, contingent on the Reporting Person's continued service as a Director on each applicable vesting date. Each restricted stock unit ("RSU") represents a contingent right once vested and as soon as practicable after the Reporting Person no longer serves as director to receive one share of Issuer's common stock, if the shareholders approve such issuance, or cash equal to the number of vested RSUs multiplied by the closing price of the common stock on the day the Reporting Person ceases to serve as director of the Company. Such RSUs were granted upon conversion of the Reporting Person's Board of Director compensation in fiscal year 2021 into RSUs. 37,054 RSUs have vested and become non-forfeitable, and, unless there is an earlier change of control of the Company or death or disability of the Reporting Person, upon which all unvested RSUs become fully vested and non-forfeitable, 1,786 will vest and become non-forfeitable on August 12, 2023 and 1,785 will vest and become non-forfeitable on August 12, 2024. Unvested RSUs will be forfeited if the Reporting Person's service as director terminates for any reason other than his death or disability or a change in control of the Company. 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. /s/ Jason S. Scher 2022-09-02