Ludmila Smolyansky Reports 5.2% Beneficial Ownership in Lifeway Foods, Inc. Following Recent Sales

Ludmila Smolyansky filed an amendment to her Schedule 13D on May 20, 2026, reporting a beneficial ownership of 787,823 shares of Lifeway Foods, Inc. (LWAY), representing approximately 5.2% of the company's outstanding common stock. This filing is part of a collective report with Edward Smolyansky and the Edward Smolyansky Trust, who together beneficially own 3,673,798 shares, or roughly 24.5% of the class. The filing details recent open-market sales by both Ludmila and Edward Smolyansky between April and May 2026 at prices ranging from $24.21 to $26.50 per share. Specifically, the Ludmila Smolyansky Trust sold 35,000 shares, while Edward Smolyansky sold 49,000 shares. Despite these sales, the group maintains a significant stake. The filing also notes a potential discrepancy in the total outstanding share count due to a recent company stock repurchase and questions the validity of certain shares issued to other family members. Ludmila Smolyansky holds sole voting and dispositive power over 712,823 shares and shared power over 75,000 shares.