SMOLYANSKY JULIE (CEO, President and Secretary) exercised options at LIFEWAY FOODS, INC.

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 1 exercise

SMOLYANSKY JULIE

Filed: 3/10/2026ACC: 0001683168-26-001647

InsiderSMOLYANSKY JULIECIK 1227846

→

IssuerLIFEWAY FOODS, INC.CIK 814586

DirectorOfficer10% Owner· CEO, President and Secretary

Since Mar 2026

+95.09K

Net shares

Net buyer

$286.7K

Total sold

Open market trades

0B · 0S

Total transactions

121.76K acquired · 26.67K disposed

Non-Derivative Transactions2

Common Stock, no par value

Direct

M · Option Exercise

+13.33K

Price / share

—

Trade value

—

% of position

0.6%

3/6/2026

2.14M→2.15M

Common Stock, no par value

Direct

D · Disposition

−13.33K

Price / share

$21.50

Trade value

$286.68K

% of position

0.6%

3/6/2026

2.15M→2.14M

Total

Net shares

+0.00

Net value

-$286.68K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock, no par value Direct	3/6/2026	M · Option Exercise	+13.33K	—	—	0.6%	2.14M	2.15M
Common Stock, no par value Direct	3/6/2026	D · Disposition	−13.33K	$21.50	$286.68K	0.6%	2.15M	2.14M
Total			+0.00		-$286.68K

Derivative Transactions2

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock

13.33K shares

−13.33K

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Performance Share Units

Direct

A · Award

Converts to

Common Stock

108.43K shares

+108.43K

Strike price

Held after

108.43K

Exercisable

—

3/6/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Restricted Stock Units Direct	Common Stock13.33K shares	3/6/2026	M · Option Exercise	−13.33K		—	0.00
Performance Share Units Direct	Common Stock108.43K shares	3/6/2026	A · Award	+108.43K		—	108.43K

Non-Derivative Holdings (Post-Transaction)3

Common Stock, no par value

Indirect

Shares owned500K

Common Stock, no par value

Indirect

Shares owned22.22K

Common Stock, no par value

Indirect

Shares owned5.12K

Total

527.34K indirect527.34K

Security Title	Shares Owned	Ownership Type
Common Stock, no par value	500K	Indirect
Common Stock, no par value	22.22K	Indirect
Common Stock, no par value	5.12K	Indirect
Total	527.34K	527.34K indirect

Derivative Holdings (Post-Transaction)5

Restricted Stock Units

Indirect

Underlying security

Common Stock

Underlying shares

970.00

Shares owned

970.00

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units

Direct

Underlying security

Common Stock

Underlying shares

12.11K

Shares owned

12.11K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units

Indirect

Underlying security

Common Stock

Underlying shares

1.02K

Shares owned

1.02K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units

Direct

Underlying security

Common Stock

Underlying shares

10.19K

Shares owned

10.19K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units

Direct

Underlying security

Common Stock

Underlying shares

12.14K

Shares owned

12.14K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

36.43K

Owned

36.43K

Security	Underlying	Exercise Window	Expiration	Underlying Shares	Shares Owned
Restricted Stock Units Indirect	Common Stock	—	—	970.00	970.00
Restricted Stock Units Direct	Common Stock	—	—	12.11K	12.11K
Restricted Stock Units Indirect	Common Stock	—	—	1.02K	1.02K
Restricted Stock Units Direct	Common Stock	—	—	10.19K	10.19K
Restricted Stock Units Direct	Common Stock	—	—	12.14K	12.14K
Total				36.43K	36.43K