# EDGAR Filing Document

**Accession Number:** 0000814586
**File Stem:** 0001683168-25-004961
**Filing Date:** 2025-7
**Character Count:** 17858
**Document Hash:** e32a6592598a4673999ef4cf3309ecb7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-25-004961.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001683168-25-004961

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**SUBJECT COMPANY**: 

**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:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-50073
- **FILM NUMBER:** 251109308

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SMOLYANSKY LUDMILA
- **CENTRAL INDEX KEY:** 0001227848

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

## Exhibit 99.1

**Exhibit 99.1**

**Edward Smolyansky and Ludmila Smolyansky File Definitive Consent Statement to Replace Entire Board of Lifeway Foods (NASDAQ: LWAY)**

**CHICAGO, July 2, 2025 /PRNewswire/** — Edward and Ludmila Smolyansky, long-term shareholders of Lifeway Foods, Inc. (NASDAQ: LWAY) who together exercise voting control with respect to approximately 23.2% of the outstanding shares of Lifeway Foods, today announced the filing of a definitive consent statement with the U.S. Securities and Exchange Commission (SEC). The filing initiates a process to remove Lifeway's current board of directors and elect a new slate of nominees who will be focused on restoring accountability, transparency and long-term shareholder value.

Mr. Smolyansky and Mrs. Smolyansky are seeking shareholder approval on four proposals: to repeal any bylaw amendments adopted after March 24, 2023; to remove all current directors, including CEO and Chair Julie Smolyansky; to elect a new board of seven highly qualified nominees who collectively have deep experience in governance, finance, operations, and consumer products; and to amend Lifeway's by-laws to prohibit it from employing or engaging any immediate family member of its President or Chief Executive Officer. The Board Removal and Director Election Proposals are conditioned on one another to ensure continued board leadership during the transition.

"It is apparent to us that the current board has no intent to engage with us. We believe this consent solicitation is the most direct and effective way to return Lifeway to the people who actually own it," said Edward Smolyansky. "The company's circumstances demand bold, unprecedented action. We must end entrenched, self-serving control and bring in leadership that will act in the best interests of all shareholders."

"We believe that the board has repeatedly disregarded shareholder feedback, failed to articulate a credible strategy, and chosen to reward failure. It's clear to us that this board cannot be trusted to lead Lifeway forward," said Edward Smolyansky.

For more information, and to contact us, visit FreeLifeway.com and Linkedin

**Important Information and Where to Find It**

This communication is not a request for a proxy to vote on, or shareholder consent with respect to, any matter. Any written solicitation of a proxy or shareholder consent by Mr. Smolyansky or Mrs. Smolyansky will be made through a definitive proxy statement or definitive consent statement, including the [definitive consent statement filed by them with the SEC on July 2, 2025](https://www.sec.gov/Archives/edgar/data/814586/000168316825004873/lifeway_defn14a.htm) (the "Consent Statement"), which will be delivered or given to requisite shareholders. Lifeway shareholders are urged to read the Consent Statement, including any amendments or supplements thereto, and any other soliciting materials, when they become available because they will contain important information. Shareholders may obtain, free of charge, copies of the Consent Statement, and other relevant documents, at www.sec.gov.

**Participants in the Solicitation**

Mr. Smolyansky and Mrs. Smolyansky filed the Consent Statement with the SEC on July 2, 2025, which relates to, among other matters, their intent to seek shareholder consents to remove Lifeway's current board of directors and elect each of Ludmila Smolyansky, Edward Smolyansky, Richard Beleutz, Cindy Curry, Michael Leydervuder, George Sent and Robert Whalen (each, a "<u>Nominee</u>") as directors of Lifeway. In addition, Mr. Smolyansky filed a [preliminary proxy statement with the SEC on April 16, 2025](https://www.sec.gov/Archives/edgar/data/814586/000168316825002629/smolyansky-lifeway_prec14a.htm), relating to his intent to nominate each Nominee for election as directors of Lifeway at its 2025 annual meeting of shareholders. Each Nominee may be deemed to have an interest in any solicitation of written consents or proxies by Mr. Smolyansky and Mrs. Smolyansky, as applicable.

The participants (the "<u>Participants</u>") in any solicitation of shareholder consents or proxies by Mr. Smolyansky or Mrs. Smolyansky may be deemed to be Mr. Smolyansky, Mrs. Smolyansky and each of the other Nominees. Lifeway shareholders can obtain information regarding the Participants and their direct and indirect interests, by security holdings or otherwise, in Appendix B to the Consent Statement, which information is incorporated herein by reference.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 24)**

**Lifeway Foods, Inc.**

*(Name of Issuer)*

**Common Stock**

*(Title of Class of Securities)*

**531914109**

*(CUSIP Number)*

**Edward Smolyansky**<br>1219 N Wells St<br>Chicago IL 60610<br>847-967-1010

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**07/02/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **531914109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ludmila Smolyansky** | Name of reporting person<br>**Ludmila Smolyansky** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**865166.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**75000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**865166.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**75000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**940166.00** | Aggregate amount beneficially owned by each reporting person<br>**940166.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.2%** | Percent of class represented by amount in Row (11)<br>**6.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Note to Row (11): In accordance with Rule 13d-101 under the Act, the reporting person has calculated the percentage of outstanding shares beneficially owned by her based on 15,203,241 shares reported to be outstanding as of May 6, 2025 (the "Reported Outstanding Shares"), as contained in the issuer's Quarterly Report on Form 10-Q for the period ended March 31, 2025, as filed with the Securities and Exchange Commission on May 13, 2025.  The reporting person does not hereby concede that all such Reported Outstanding Shares are validly issued and outstanding, including, without limitation, any shares purported to have been issued to Julie Smolyansky or her spouse without the consent of Danone North America PBC.

| **CUSIP No.** | **531914109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Edward Smolyansky** | Name of reporting person<br>**Edward Smolyansky** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2584975.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**575000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2584975.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**575000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3159975.00** | Aggregate amount beneficially owned by each reporting person<br>**3159975.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**20.8%** | Percent of class represented by amount in Row (11)<br>**20.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Note to Row (11): In accordance with Rule 13d-101 under the Act, the reporting person has calculated the percentage of outstanding shares beneficially owned by him based on the Reported Outstanding Shares.  The reporting person does not hereby concede that all such Reported Outstanding Shares are validly issued and outstanding, including, without limitation, any shares purported to have been issued to Julie Smolyansky or her spouse without the consent of Danone North America PBC.

| **CUSIP No.** | **531914109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**The Edward Smolyansky Trust 2/2/16** | Name of reporting person<br>**The Edward Smolyansky Trust 2/2/16** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1233333.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1233333.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1233333.00** | Aggregate amount beneficially owned by each reporting person<br>**1233333.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**8.1%** | Percent of class represented by amount in Row (11)<br>**8.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row (11): In accordance with Rule 13d-101 under the Act, the reporting person has calculated the percentage of outstanding shares beneficially owned by it based on the Reported Outstanding Shares.  The reporting person does not hereby concede that all such Reported Outstanding Shares are validly issued and outstanding, including, without limitation, any shares purported to have been issued to Julie Smolyansky or her spouse without the consent of Danone North America PBC.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock

**(b) Name of Issuer:**
Lifeway Foods, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
6431 W Oakton, Morton Grove, IL, 60053

This Amendment No. 24 (this "Amendment") further amends and supplements the Schedule 13D filed by Ludmila Smolyansky, Edward Smolyansky and The Edward Smolyansky Trust 2/2/16 (the "Edward Smolyansky Trust" and, together with Ludmila Smolyansky and Edward Smolyansky, the "Filing Persons"). This Amendment is being filed by the Filing Persons for the purpose of providing the additional information set forth below.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended and supplemented by the addition of the following:

On July 2, 2025, Edward Smolyansky and Ludmila Smolyansky filed a definitive consent statement with the Securities and Exchange Commission, relating to a consent solicitation with respect to the following proposals: (i) to repeal any amendment to the Second Amended and Restated By-Laws (the "Bylaws") of Lifeway Foods, Inc. (the "Company") that is made by the Company's board of directors (the "Board") and becomes effective on or after March 24, 2023 and prior to the effective this proposal becoming effective; (ii) to remove each director of the Company and any other director appointed by the Board on or after June 15, 2024 and prior to this proposal becoming effective, subject to the election of at least one Nominee pursuant to the proposal described in clause (iii), below; (iii) to elect each of Ludmila Smolyansky, Edward Smolyansky, Richard Beleutz, Cindy Curry, Michael Leydervuder, George Sent and Robert Whalen (each a "Nominee"), to serve as directors of the Company until the Company's next annual meeting of shareholders and until their respective successors are duly elected and qualified (or, if any such Nominee is unable or unwilling to serve as a director of the Company, or if the Board changes the number of directorships to be a number other than seven, the persons designated as Nominees by the then-remaining Nominee(s)), subject to the approval of the proposal described in clause (ii), above; and (iv) to amend the Bylaws, as reflected in the consent statement, to prohibit the Company from employing or engaging any immediate family member of the Company's president or chief executive officer.

On July 2, 2025, Mrs. Smolyansky and Mr. Smolyansky also issued a press release, attached hereto as Exhibit 99.1, which is incorporated herein by reference.

On July 7, 2025, Mr. Smolyansky sent a letter to the Company's President requesting, in accordance with Section 7.05 of the Illinois Business Corporation Act, that the Company give notice of an annual meeting of the shareholders of the Company (the "2025 Annual Meeting") and demanding, in accordance with Section 2.1.1 of the Bylaws, that the Company hold the 2025 Annual Meeting, in each case as promptly as practicable.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ludmila Smolyansky

**Signature:** /s/ Ludmila Smolyansky

**Name/Title:** Ludmila Smolyansky

**Date:** 07/07/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Edward Smolyansky

**Signature:** /s/ Edward Smolyansky

**Name/Title:** Edward Smolyansky

**Date:** 07/07/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** The Edward Smolyansky Trust 2/2/16

**Signature:** /s/ Edward Smolyansky

**Name/Title:** Edward Smolyansky, Trustee

**Date:** 07/07/2025