Lifeway Foods Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement.
On June 16, 2025, Lifeway Foods, Inc. (the “Company”) entered into an agreement (the “Separation Agreement”) with Amy Feldman, that provides for certain separation benefits to Amy Feldman in relation with her termination by the Company, as reported in the Company’s Current Report on Form 8-K filed on March 6, 2025.
Pursuant to the Separation Agreement, the Company has agreed, among other things, to (i) pay Amy Feldman a single lump sum of $555,313.13 (the “Separation Payment”), less applicable statutory deductions and authorized withholdings, (ii) vest 7,875 outstanding restricted stock units held by Amy Feldman, and (iii) vest 5,448 outstanding but unvested performance stock units under the Company’s 2022 Omnibus Incentive Plan.
Pursuant to the Separation Agreement, Amy Feldman waives and releases certain claims contained therein and agreed, among other things, (i) that the Company has already paid a payment for all unused paid time off that had accrued as of the Separation Date (as defined in the Separation Agreement) and (ii) that she is not entitled to and will not receive any additional compensation, payments or benefits of any kind from the Released Parties (as defined in the Separation Agreement). Further, such Separation Payment is made in full satisfaction of any amounts and benefits under the executive employment agreement between the Company and Amy Feldman, dated October 31, 2018.
The description of the Separation Agreement contained herein is qualified in its entirety by reference to the Separation Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit No. | Description |
| 10.1 | Separation Agreement dated as of June 16, 2025, between the Company and Amy Feldman. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
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.
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LIFEWAY FOODS, INC.
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| Dated: June 23, 2025 | By: | /s/ Eric Hanson | |
| Name: Eric Hanson | |||
| Title: Chief Financial Officer | |||
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