# EDGAR Filing Document

**Accession Number:** 0000814586
**File Stem:** 0001999371-25-016469
**Filing Date:** 2025-10
**Character Count:** 12554
**Document Hash:** 80945cc145fcd6ee756fe2afa4548570
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-25-016469.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001999371-25-016469

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251029

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251029

**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:** 251431697

**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'?

**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): October 29, 2025

**LIFEWAY FOODS, INC.**

(Exact Name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **Illinois** | **000-17363** | **36-3442829** |
| (State or Other Jurisdiction<br> of Incorporation) | (Commission <br> File Number) | (IRS Employer <br> Identification No.) |

---

---

| | | |
|:---|:---|:---|
| **6431 Oakton Street<br> Morton Grove, Illinois** | **6431 Oakton Street<br> Morton Grove, Illinois** | <br> **60053** |
| (Address of Principal Executive Offices) | (Zip Code) | (Zip Code) |

---

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

**N/A**

(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 or to be registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | LWAY | Nasdaq Global Market |
| Preferred Stock Purchase Rights | None | Nasdaq Global 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. ◻

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| | |
|:---|:---|
| **Item 1.01.** | **Entry into a Material Definitive Agreement.** |

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On October 29, 2025, the board of directors (the "***Board***") of Lifeway Foods, Inc., an Illinois corporation (the "***Company***"), approved and adopted, and on October 29, 2025, the Company and Computershare Trust Company, N.A., as rights agent (and any successor rights agent, the "***Rights Agent***"), entered into, that certain Amendment No. 1 to Shareholder Rights Agreement (the "***Amendment***"), which amends the shareholder rights agreement, dated as of November 4, 2024 (the "***Rights Agreement***"), by and between the Company and the Rights Agent. Capitalized terms used, but not defined, below have the meanings given to such terms in the Rights Agreement.

The Rights Agreement was originally scheduled to expire at the Close of Business on November 4, 2025. On October 29, 2025, the Company and the Rights Agent entered into the Amendment, which extended the Final Expiration Time to the Close of Business on October 29, 2026 (and made other conforming changes to the Rights Agreement).

The Board determined to extend the Rights Agreement based on its belief that the Company and its shareholders remain vulnerable to the acquisition of actual or *de facto* control by one or more shareholders without paying a control premium to the Company's other shareholders. In particular, the Board noted the Company's highly concentrated share ownership, which could enable a shareholder or group of shareholders to gain *de* facto control if additional shares are acquired or if other large holders dispose of their shares. In addition, the Board noted the potential for a substantial number of shares of Company common stock to become available for sale in the near term under the Company's existing agreements and registration obligations, which could increase the likelihood of an accumulation of control without fair compensation to all shareholders.

The Rights Agreement is intended to ensure that all Company shareholders have the opportunity to realize the full value of their investment and to protect against tactics that could result in any person or group gaining actual or *de facto* control of the Company without paying other Company shareholders a premium for that control.

The foregoing description of the Rights Agreement and the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Rights Agreement and the Amendment, which are filed as Exhibit 4.1 to the Company's Form 8-A filed on November 5, 2024 and Exhibit 4.2 to the Company's Amendment No. 1 to Form 8-A filed on October 29, 2025, respectively, and which are incorporated herein by reference.

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| | |
|:---|:---|
| **Item 3.03.** | **Material Modification to Rights of Security Holders.** |

---

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.

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| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure.** |

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On October 29, 2025, the Company issued a press release announcing the adoption of the Amendment. A copy of that press release is furnished as [Exhibit 99.1](ex99-1.htm) to this Current Report and incorporated herein by reference. The information under Item 7.01 of this Current Report on Form 8-K and [Exhibit 99.1](ex99-1.htm) attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, or incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing regardless of any general incorporation language in such filing.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Certificate of Designations of Series A Junior Participating Preferred Stock of the Company, dated November 4, 2024 (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q, filed on November 14, 2024)](https://www.sec.gov/Archives/edgar/data/814586/000168316824008025/lifeway_ex0301.htm) |
| 4.1 | [Shareholder Rights Agreement, dated as of November 4, 2024, by and between the Company and Computershare Trust Company, N.A., as rights agent (which includes the Form of Rights Certificate as <u>Exhibit B</u> thereto) (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form 8-A, filed on November 5, 2024)](https://www.sec.gov/Archives/edgar/data/814586/000183988224037645/ex4-1.htm) |
| 4.2 | [Amendment No. 1 to Shareholder Rights Agreement, dated as of October 29, 2025, by and between the Company and Computershare Trust Company, N.A., as rights agent (incorporated by reference to Exhibit 4.2 to the Company's Amendment No. 1 to Registration Statement on Form 8-A, filed on October 29, 2025)](https://www.sec.gov/Archives/edgar/data/814586/000199937125016430/ex4-2.htm) |
| 99.1 | [Press Release issued by the Company on October 29, 2025](ex99-1.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: October 29, 2025 | By: | /s/ Julie Smolyansky | /s/ Julie Smolyansky |
|  |  | Name: | Julie Smolyansky |
|  |  | Title: | Chief Executive Officer and Secretary |

---

## Exhibit 99.1

[LIFEWAY FOODS, INC. 8-K](lway-8k_102925.htm)

**Exhibit 99.1**

**Lifeway Foods Extends Existing Shareholder Rights Plan**

Morton Grove, Ill. — October 29, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway" or the "Company"), the leading U.S. supplier of kefir and fermented probiotic products that support the microbiome, today announced that its Board of Directors has approved an amendment to the Company's existing Shareholder Rights Agreement (the "Rights Plan") to extend its expiration date for one year. All other terms and conditions of the Rights Plan remain unchanged.

The Board determined to extend the Rights Plan based on its belief that the Company and its shareholders remain vulnerable to the acquisition of actual or *de facto* control by one or more shareholders without paying a control premium to other shareholders. In reaching its decision, the Board noted Lifeway's highly concentrated share ownership, which could enable a shareholder or group of shareholders to gain *de facto* control if additional shares are acquired or if other large holders dispose of their shares. The Board also considered the potential for a substantial number of shares to become available for sale in the near term under the Company's existing agreements and registration obligations, which could increase the likelihood of an accumulation of control without fair compensation to all shareholders.

The Rights Plan is intended to ensure that all Lifeway shareholders have the opportunity to realize the full value of their investment and to protect against tactics that could result in a transfer of control without the payment of a premium. The extension of the Rights Plan is not in response to any specific takeover proposal.

Unless earlier redeemed, terminated or exchanged pursuant to the Rights Plan, the rights will expire on October 29, 2026.

Further details about the Rights Plan will be contained in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.

Evercore is serving as a financial advisor to Lifeway, and Sidley Austin LLP is serving as legal counsel to Lifeway.

**About Lifeway Foods, Inc.**

Lifeway Foods, Inc., which has been recognized as one of America's Growth Leaders by TIME, as Dairy Foods' Processor of the Year 2025 and one of Forbes' Best Small Companies, is America's leading supplier of the probiotic, fermented beverage known as kefir. In addition to its line of drinkable kefir, the Company also produces a variety of cheeses and a ProBugs® line for kids. Lifeway's tart and tangy fermented dairy products are now sold across the United States, Mexico, Ireland, South Africa, United Arab Emirates, and France. Learn how Lifeway is good for more than just you at lifewayfoods.com.

**Contact:**

Derek Miller

Vice President of Communications, Lifeway Foods<br> derekm@lifeway.net

Perceptual Advisors

Dan Tarman

Email: dtarman@perceptualadvisors.com