# EDGAR Filing Document

**Accession Number:** 0000814586
**File Stem:** 0001683168-26-001682
**Filing Date:** 2026-3
**Character Count:** 25841
**Document Hash:** 631f1c72c6aed47908e28b97465a673a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-26-001682.hdr.sgml**: 20260311

**ACCESSION NUMBER**: 0001683168-26-001682

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20260306

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260311

**DATE AS OF CHANGE**: 20260311

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lifeway Foods, Inc.
- **CENTRAL INDEX KEY:** 0000814586
- **STANDARD INDUSTRIAL CLASSIFICATION:** DAIRY PRODUCTS [2020]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 363442829
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42398
- **FILM NUMBER:** 26743838

**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

?xml version='1.0' encoding='ASCII'? LIFEWAY FOODS, INC. 8-K

`

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

_________________

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **March 6, 2026**

**LIFEWAY FOODS, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| IL**LINOIS** | **000-17363** | **36-3442829** |
| (State or other jurisdiction of<br> incorporation) | (Commission <br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **6431 Oakton St.** **Morton Grove, IL** | **60053** |
| (Address of principal executive offices) | (Zip code) |

---

Registrant's telephone number, including area code: **(847) 967-1010**

<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **N/A**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each Class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, no par value | LWAY | The Nasdaq Stock Market |
| Preferred Stock Purchase Rights | None | The Nasdaq Stock Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b 2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02. Results of Operations and Financial Condition.**

(e)&nbsp;&nbsp;&nbsp;&nbsp; On March 6, 2026, pursuant to the Lifeway Foods, Inc. (the "Company") 2022 Omnibus Incentive Plan (the "Plan") the Compensation Committee of the Board of Directors of the Company approved the form of Notice of Deferred Time-Vested Cash Award under the Plan (the "Time-Vested Cash Award Notice Form") and the form of Notice of Deferred Performance-Based Cash Award under the Plan (the "Performance-Based Cash Award Notice Form" and, together with the Time-Vested Cash Award Notice Form, the "Plan Deferred Cash Award Notice Forms").

The foregoing description of the Plan Deferred Award Cash Notice Forms is qualified in its entirety by reference to the full text of the Time-Vested Cash Award Notice Form and the Performance-Based Cash Award Notice Form, which are attached hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Form of Notice of Deferred Time-Vested Cash Award](lifeway_ex1001.htm) |
| 10.2 | [Form of Notice of Deferred Performance-Based Cash Award](lifeway_ex1002.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  | **LIFEWAY FOODS, INC.** | **LIFEWAY FOODS, INC.** | **LIFEWAY FOODS, INC.** |
| Date: March 11, 2026 | By: | /s/ Eric Hanson | /s/ Eric Hanson |
|  |  | Name: | Eric Hanson |
|  |  | Title: | Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>NOTICE OF DEFERRED TIME-VESTED CASH AWARD</u>**

**under the**

**LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN**

**This AWARD, made as of the ___ day of ________, 20__,** by Lifeway Foods, Inc., an Illinois corporation (the "Company"), to **____________** ("Participant"), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan (the "Plan"). All terms that are used herein that are defined in the Plan shall have the same meanings given them in the Plan.

**<u>Grant of Deferred Cash Incentive Award</u>**

1.  **<u>Grant Date</u>** . Pursuant to the Plan, the Company, on _______ __, 20__ (the "Grant Date"), granted Participant
this time-vested deferred cash incentive award ("Award") in the amount of $__________, subject to the terms and conditions
of the Plan and subject to the terms and conditions set forth herein.

**<u>Vesting of Award</u>**

2.  **<u>Restrictions</u>** . Except as otherwise provided herein, the Award shall remain nonvested, nontransferable and subject to
a substantial risk of forfeiture as provided in paragraph 6.

3.  **<u>Vesting</u>** . Subject to Participant's continued employment with the Company (except as otherwise provided herein),
Participant's interest in the Award shall become non-forfeitable ("Vested") as follows:

---

| | |
|:---|:---|
| <u>Date of Vesting</u> | <u>Percentage of Award that will Vest</u> |
| _____________ | _____________ |
| _____________ | _____________ |
| _____________ | _____________ |

---

4.  **<u>Vesting Upon a Qualifying Termination Event</u>.** (a) Paragraph 3 to the contrary notwithstanding, if prior to the forfeiture
of this Award under Paragraph 6, Participant experiences a Qualifying Termination Event (as defined in subparagraph (b)), that forfeitable
portion of the Award shall become fully Vested upon the Qualifying Termination Event.

&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of this Award, Qualifying Termination Event shall mean the Participant's death or Disability. A Disability for purposes
of this sub-paragraph (b) means a Participant's Permanent Disability as defined in Section 22(e)(3) of the Code.

5.  **<u>Effects of a Change of Control</u>** . In the event of a Change of Control (as defined in the Plan) prior to the forfeiture
of the Award under paragraph 6, the provisions of Article 17 (and related provisions) of the Plan shall apply.

6.  **<u>Forfeiture of Non-Vested Portion of the Award</u>** . Except as provided in Section 5 above, the portion of the Award that
is forfeitable shall be forfeited if Participant's employment with the Company or an Affiliate terminates for any reason other than
by reason of a Qualifying Termination Event as outlined in Paragraph 4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a Qualifying Termination Event occurs after the date that Participant is advised that their
employment is being, or will be, terminated for Cause, on account of performance or in circumstances that prevent them from being in good
standing with the Company, accelerated Vesting shall not occur and all rights under this Award shall terminate, and this Award shall expire
on the date of Participant's termination of employment. For these purposes, unless otherwise specified in an applicable employment
agreement between the Company and the Participant, Cause for purposes of this Award shall have the meaning set forth in the Plan and the
Committee shall have the authority to determine whether Participant's termination from employment is for Cause or for any reason
other than Cause.

**<u>Payment of Award</u>**

7.  **<u>Time of Payment</u>** . Payment of this Award shall be made as soon as practicable after the Award has Vested, but in no event
later than March 15<sup>th</sup> of the calendar year after the year in which the Award Vests.

8.  **<u>Form of Payment</u>** . The Vested Award shall be paid in cash, *provided, however*, that in the event that Danone's
Consent is no longer required or the Company has received Danone's Consent, the Vested Award may be paid in (a) whole Shares of
the Company's common stock, (b) cash, or (c) a combination of whole Shares of the Company's common stock and cash, as determined
solely at the discretion of the Company.

9.  **<u>Death of Participant</u>** . If Participant dies prior to the payment of their non-forfeitable Award, the Award shall be paid
to their Beneficiary. Participant shall have the right to designate a Beneficiary in accordance with procedures established under the
Plan for such purpose. If Participant fails to designate a Beneficiary, or if at the time of Participant's death there is no surviving
Beneficiary, any amount payable will be paid to Participant's estate.

10.  **<u>Taxes</u>** . Tax withholding requirements attributable to the Vesting of this Award, including employment taxes, Federal income
taxes, and state and local income taxes with respect to the state and locality where, according to the Company's system of records, Participant
resides at the time the Award Vests, except as otherwise might be determined to be required by the Company, will be satisfied by Participant
as instructed in the established procedures of the Company; provided, however, to the extent, pursuant to Section 8 above, the Award can
be paid in Shares and the Company determines to pay the Award in Shares, the Company may, at the request of the Participant, withhold
from the Award the number of whole Shares of common stock necessary to satisfy tax-withholding requirements attributable to the Vesting
of the Award. It is Participant's responsibility to properly report all income and remit all Federal, state, and local taxes that may
be due to the relevant taxing authorities as the result of the Vesting of this Award.

**<u>General Provisions</u>**

11.  **<u>Account</u>** . This Award shall be credited to an account (the "Account") established and maintained for
Participant. Participant's Account shall be the record of the Award granted to Participant under the Plan, is solely for accounting
purposes and shall not require a segregation of any Company assets.

12.  **<u>No Right to Continued Employment</u>** . Neither this Award nor the granting or Vesting of the Award shall confer upon Participant
any right with respect to continuance of employment by the Company or an Affiliate, nor shall it interfere in any way with the right of
the Company or an Affiliate to terminate Participant's employment at any time.

13.  **<u>Change in Capital Structure</u>** . In accordance with the terms of the Plan, the terms of this Award shall be adjusted as
the Committee determines is equitable in the event the Company effects one or more stock dividends, stock split-ups, subdivisions or consolidations
of shares or other similar changes in capitalization.

14.  **<u>Governing Law</u>** . This Award shall be governed by the laws of the State of Illinois and applicable Federal law. All disputes
arising under this Award shall be adjudicated solely within the State or Federal courts located within the Northern District of Illinois.

15.  **<u>Conflicts</u>** . In the event of any conflict between the provisions of the Plan as
in effect on the Grant Date and the provisions of this Award, the provisions of the Plan shall govern. All references herein to the Plan
shall mean the Plan as in effect on the Grant Date.

16.  **<u>Participant Bound by Plan</u>** . Participant has been provided a copy of the Plan and shall be bound by all the terms and
provisions thereof.

17.  **<u>Binding Effect</u>** . Subject to the limitations stated above and in the Plan, this Award shall be binding upon and inure
to the benefit of the legatees, distributees, and personal representatives of Participant and the successors of the Company.

18.  **<u>Recoupment</u>** . In addition to any other applicable provision of the Plan, this Award is subject to the terms of any separate
Clawback Policy maintained by the Company, as such Policy may be amended from time to time.

19.  **<u>Code Section 409A</u>** . Notwithstanding any other provision of this Award, it is intended that the provisions of this Award
be interpreted and administered, as necessary, so that the payments and benefits set forth herein either shall be exempt from or shall
comply with the requirements of Section 409A of the Internal Revenue Code. To the extent that the Company determines that any provision
of this Award would cause the Participant to incur any additional tax or interest under Section 409A, the Company shall be entitled to
reform such provision to attempt to comply with or be exempt from Section 409A. To the extent that any provision hereof is modified
in order to comply with Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible,
maintain the original intent and economic benefit to the Participant and the Company without violating the provisions of Section 409A.

IN WITNESS WHEREOF, the Company has caused this Award to be signed on its behalf.

---

| | |
|:---|:---|
| **LIFEWAY FOODS, INC.** | **LIFEWAY FOODS, INC.** |
| By: |  |
|  | Name: |
|  | Title: |

---

## Exhibit 10.2

**Exhibit 10.2**

**<u>NOTICE OF DEFERRED PERFORMANCE-BASED CASH AWARD</u>**

**under the**

**LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN**

**This AWARD, made as of the __h day of _______, 20__,** by Lifeway Foods, Inc., an Illinois corporation (the "Company"), to **____________** ("Participant"), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan (the "Plan"). All terms that are used herein that are defined in the Plan shall have the same meanings given them in the Plan.

**<u>Grant of Deferred Performance-Based Cash Award Grant</u>**

---

| | |
|:---|:---|
| 1. | **<u>Grant Date</u>**. Pursuant to the Plan, the Company, on _____ __, 20__ (the "Grant Date"), granted Participant a performance-based deferred cash incentive award ("Award") in the target amount of $__________, subject to the terms and conditions of the Plan and subject to the terms and conditions set forth herein. |
|  | The Award shall be divided into ___ []separate] tranch[es] as follows – ________________. |

---

2.  **<u>Restrictions</u>** . Except as otherwise provided herein, the Award is unearned, nontransferable and subject to a substantial
risk of forfeiture. In addition, the Award shall not be earned, and Participant's interest in the Award granted hereunder shall
be forfeited, except to the extent that the following paragraphs are satisfied.

3.  **<u>Performance Criteria</u>** . Participant's Award shall be earned as soon as practicable after the end of the relevant
Measurement Period based on the formulae and terms below. Such Award shall be subject to the terms and conditions set forth in the following
paragraphs of this Notice of Award.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Measurement Period for the Award is the period running from **_______ __, 20__ to _________ __, 20__.** 

&nbsp;&nbsp;&nbsp;&nbsp;(b)  ***[Description of Performance Criteria and Definitions of all Relevant Terms to be inserted]*** 

4.  **<u>Earning and Vesting of Award</u>.** As soon as practicable after the end of the Measurement Period, a determination shall
be made by the Committee of the number of whole Award that Participant has earned. The date as of which the Committee determines the total
Award earned shall be the "Award Date." Subject to paragraphs 7, 8, 9 and 12 of this Award, the Award shall not be deemed
to have been earned or be vested at any point before such Award Date. All portions of the Award that are earned (the "**Earned Date**") shall be immediately vested.

5.  **<u>Time of Payment</u>** . Payment of Participant's vested Award shall be made as soon as practicable after the Award has
become vested, but in no event later than March 15<sup>th</sup> of the calendar year after the year in which the Award becomes vested.

6.  **<u>Form of Payment</u>** . The vested Award shall be paid in cash, *provided, however*, that in the event that Danone's
Consent is no longer required or the Company has received Danone's Consent, the Vested Award may be paid in (a) whole Shares of
the Company's common stock, (b) cash, or (c) a combination of whole Shares of the Company's common stock and cash, as determined
solely at the discretion of the Company.

7.  **<u>Termination of Employment During the Measurement Period or Before the Award Date</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>During the Measurement Period</u>. Anything in this Notice of Award to the contrary notwithstanding, if
Participant separates from service during the Measurement Period but prior to the forfeiture of the Award under this paragraph 7, or paragraphs
8 and 9 below, and if the separation from service is due to a Qualifying Termination Event (as defined below), the forfeitable portion
of the Award shall become fully earned and vested at Target Level upon the Qualifying Termination Event. The non-vested portion of the
Award shall be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>After the Measurement Period but prior to the Award Date</u> *.* Anything in this Notice of Award to the contrary notwithstanding,
if, after the Measurement Period ends, but prior to the Award Date, Participant experiences a Qualifying Termination Event (as defined
below), such Participant shall be entitled to their Target Level Awards as of the Award Date to the extent earned pursuant to paragraph
4, and such earned Awards shall be fully vested as of the Award Date.

8.  **<u>Forfeiture of Unearned and Non-Vested Performance Award</u>** . Except as provided in Paragraph 12, any portion of the Award
that is unearned and/or forfeitable shall be forfeited if Participant's employment with the Company or an Affiliate terminates for
any reason other than by reason of a Qualifying Termination Event, as outlined in Paragraph 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a Qualifying Termination Event occurs after the date that Participant is advised that their
employment is being, or will be, terminated for Cause, on account of performance or in circumstances that prevent them from being in good
standing with the Company, accelerated Award earning and vesting shall not occur and all rights under this Award shall terminate, and
this Award shall expire on the date of Participant's termination of employment. Unless otherwise specified in an applicable
employment agreement between the Company and the Participant, Cause for purposes of this Award shall have the meaning set forth in the
Plan and the Committee shall have the authority to determine whether Participant's termination from employment is for Cause or for
any reason other than Cause.

9.  **<u>Qualifying Termination Events.</u>** For purposes of this Award Notice, Qualifying Termination Event shall mean the Participant's
death or Disability. A Disability for purposes of this paragraph 9 means a Participant's Permanent Disability as defined in Section 22(e)(3)
of the Code.

10.  **<u>Death of Participant</u>** . If Participant dies prior to the payment of their non-forfeitable Award, such Award shall be paid
to their Beneficiary. Participant shall have the right to designate a Beneficiary in accordance with procedures established under the
Plan for such purpose. If Participant fails to designate a Beneficiary, or if at the time of Participant's death there is no surviving
Beneficiary, any amounts payable will be paid to Participant's estate.

11.  **<u>Taxes</u>** . Tax withholding requirements attributable to the earning and vesting of this Award, including employment taxes,
Federal income taxes, and state and local income taxes with respect to the state and locality where, according to the Company's system
of records, Participant resides at the time this Award is earned and vests, except as otherwise might be determined to be required by
the Company, will be satisfied by Participant as instructed in the established procedures of the Company; *provided, however*, to
the extent, pursuant to paragraph 6 above, the Award can be paid in Shares and the Company determines to pay the Award in Shares, the
Company may, at the request of the Participant, withhold from the Award, the number of whole Shares of common stock necessary to satisfy
tax-withholding requirements attributable to the earning and vesting of the Award. It is Participant's responsibility to properly report
all income and remit all Federal, state, and local taxes that may be due to the relevant taxing authorities as the result of the earning
and Vesting of this Award.

12.  **<u>Change in Control</u>** . Anything in this Notice of Award to the contrary notwithstanding, upon a Change in Control (as defined
in the Plan), prior to the forfeiture of the Award under paragraph 8, the provisions of Article 17 (and related provisions) of the Plan
shall apply, *provided, however*, for purposes of applying Section 17.1(c) of the Plan, such Section shall also apply to the Performance-Based
Cash Award hereunder.

13.  **<u>No Right to Continued Employment</u>** . Neither this Award nor the granting or vesting of this Award shall confer upon Participant
any right with respect to continuance of employment by the Company or an Affiliate, nor shall it interfere in any way with the right of
the Company or an Affiliate to terminate Participant's employment at any time.

14.  **<u>Change in Capital Structure</u>** . In accordance with the terms of the Plan, the terms of this Award shall be adjusted as
the Committee determines is equitable in the event the Company effects one or more stock dividends, stock split-ups, subdivisions or consolidations
of shares or other similar changes in capitalization.

15.  **<u>Governing Law</u>** . This Award shall be governed by the laws of the State of Illinois and applicable Federal law. All disputes
arising under this Award shall be adjudicated solely within the State or Federal courts located within the Northern District of the State
of Illinois.

16.  **<u>Conflicts</u>** . In the event of any conflict between the provisions of the Plan as
in effect on the Grant Date and the provisions of this Award, the provisions of the Plan shall govern. All references herein to the Plan
shall mean the Plan as in effect on the Grant Date.

17.  **<u>Participant Bound by Plan</u>** . Participant has been provided a copy of the Plan and shall be bound by all the terms and
provisions thereof.

18.  **<u>Binding Effect</u>** . Subject to the limitations stated above and in the Plan, this Award shall be binding upon and inure
to the benefit of the legatees, distributees, and personal representatives of Participant and the successors of the Company.

19.  **<u>Recoupment</u>** . In addition to any other applicable provision of the Plan, this Award is subject to the terms of any separate
Clawback Policy maintained by the Company, as such Policy may be amended from time to time.

20.  **<u>Code Section 409A</u>** . Notwithstanding any other provision of this Award, it is intended that the provisions of this Award
be interpreted and administered, as necessary, so that the payments and benefits set forth herein either shall be exempt from or shall
comply with the requirements of Section 409A of the Internal Revenue Code. To the extent that the Company determines that any provision
of this Award would cause the Participant to incur any additional tax or interest under Section 409A, the Company shall be entitled to
reform such provision to attempt to comply with or be exempt from Section 409A. To the extent that any provision hereof is modified
in order to comply with Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible,
maintain the original intent and economic benefit to the Participant and the Company without violating the provisions of Section 409A.

IN WITNESS WHEREOF, the Company has caused this Award to be signed on its behalf.

---

| | |
|:---|:---|
| **LIFEWAY FOODS, INC.** | **LIFEWAY FOODS, INC.** |
| By: |  |
|  | Name: |
|  | Title: |

---