UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 18)*
LIFEWAY FOODS, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
531914109
(CUSIP Number)
Edward Smolyansky
1219 N Wells St
Chicago, IL 60610
(847) 967-1010
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
April 24, 2024
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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SCHEDULE 13D CUSIP No. 531914109 | |||||
| 1. |
Names of reporting persons Ludmila Smolyansky | ||||
| 2. | Check the appropriate box if a member of a group (see instructions) | ||||
| (a) | ☒ | ||||
| (b) | ☐ | ||||
| 3. | SEC use only | ||||
| 4. |
Source of funds (see instructions) OO | ||||
| 5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐ | ||||
| 6. |
Citizenship of place of organization United States | ||||
| Number of shares beneficially owned by each reporting person with |
7. | Sole voting power 1,282,096 | |||
| 8. | Shared voting power 0 | ||||
| 9. | Sole dispositive power 1,282,096 | ||||
| 10. | Shared dispositive power 0 | ||||
| 11. |
Aggregate amount beneficially owned by each reporting person 1,282,096 | ||||
| 12. | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions) ☐ | ||||
| 13. |
Percent of class represented by amount in Row (11) 8.6% | ||||
| 14. |
Type of reporting person (see instructions) IN | ||||
| 2 |
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SCHEDULE 13D CUSIP No. 531914109 | |||||
| 1. |
Names of reporting persons Edward Smolyansky | ||||
| 2. | Check the appropriate box if a member of a group (see instructions) | ||||
| (a) | ☒ | ||||
| (b) | ☐ | ||||
| 3. | SEC use only | ||||
| 4. |
Source of funds (see instructions) OO | ||||
| 5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐ | ||||
| 6. |
Citizenship of place of organization United States | ||||
| Number of shares beneficially owned by each reporting person with |
7. | Sole voting power 2,604,975 | |||
| 8. | Shared voting power 500,000 | ||||
| 9. | Sole dispositive power 2,604,975 | ||||
| 10. | Shared dispositive power 500,000 | ||||
| 11. |
Aggregate amount beneficially owned by each reporting person 3,104,975 | ||||
| 12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions) ☐ | ||||
| 13. |
Percent of class represented by amount in Row (11) 21.1% | ||||
| 14. |
Type of reporting person (see instructions) IN | ||||
| 3 |
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SCHEDULE 13D CUSIP No. 531914109 | |||||
| 1. |
Names of reporting persons The Edward Smolyansky Trust 2/2/16 | ||||
| 2. | Check the appropriate box if a member of a group (see instructions) | ||||
| (a) | ☒ | ||||
| (b) | ☐ | ||||
| 3. | SEC use only | ||||
| 4. |
Source of funds (see instructions) OO | ||||
| 5. | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐ | ||||
| 6. |
Citizenship of place of organization United States | ||||
| Number of shares beneficially owned by each reporting person with |
7. | Sole voting power 1,233,333 | |||
| 8. | Shared voting power 0 | ||||
| 9. | Sole dispositive power 1,233,333 | ||||
| 10. | Shared dispositive power 0 | ||||
| 11. |
Aggregate amount beneficially owned by each reporting person 1,233,333 | ||||
| 12. | Check if the aggregate amount in Row (11) excludes certain shares (see instructions) ☐ | ||||
| 13. |
Percent of class represented by amount in Row (11) 8.7% | ||||
| 14. |
Type of reporting person (see instructions) OO | ||||
| 4 |
AMENDMENT NO. 18 to SCHEDULE 13D
This Amendment No. 18 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 No. 18 is being filed by the Filing Persons for the purpose of providing the additional information set forth below.
ITEM 5. Interest in Securities of the Issuer
Item 5 is hereby amended and supplemented by the addition of the following:
| (a) | As of April 26, 2024, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (i) Ludmila Smolyansky may be deemed to be the beneficial owner of 1,282,096 shares of Common Stock, representing approximately 8.6% of the outstanding shares of Common Stock, (ii) Edward Smolyansky may be deemed to be the beneficial owner of 3,104,975 shares of Common Stock, representing approximately 21.1% of the outstanding shares of Common Stock, (iii) the Edward Smolyansky Trust may be deemed to be the beneficial owner of 1,233,333 shares of Common Stock, representing approximately 8.7% of the outstanding shares of Common Stock, and (iv) the Filing Persons together may be deemed to be the beneficial owners of an aggregate of 4,387,071 shares of Common Stock, representing approximately 29.9% of outstanding shares of Common Stock. The foregoing percentage calculations were based on 14,690,987 shares outstanding as of Mach 15, 2024, as reported by the Company on its Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC. | |
| (b) | Ludmila Smolyansky has sole power to vote or direct the vote of, and sole power to dispose or direct the disposition of, 1,282,096 shares of Common Stock. Edward Smolyansky has sole power to vote or direct the vote of, and sole power to dispose or direct the disposition of, 3,104,975 shares of Common Stock, which includes the 1,233,333 shares beneficially owned by the Edward Smolyansky Trust and 100,000 shares held by his son, and shared power to vote or direct the vote of, and shared power to dispose or direct the disposition of, 500,000 shares of Common Stock, which are held by Smolyansky Family Holdings LLC, and over which Edward Smolyansky and Julie Smolyansky share voting power and dispositive power. Julie Smolyansky is a United States citizen and the Chief Executive Officer of the Company, with a business address at 6431 Oakton Street, Morton Grove, IL 60053. Edward Smolyansky disclaims beneficial ownership of shares held by Smolyansky Family Holdings LLC, except to the extent of any pecuniary interest therein, and disclaims beneficial ownership of the shares held by his son. The Edward Smolyansky Trust has sole power to vote or direct the vote of, and sole power to dispose or direct the disposition of, 1,233,333 shares of Common Stock. | |
| (c) | Except as set forth below, there have been no transactions in the shares of Common Stock by any of the Filing Persons during the past sixty days: |
| Date | Reporting Person | Amount Acquired (Disposed) | Price Per Share | Type of Transaction |
| April 26, 2024 | Ludmila Smolyansky | 10,000 | $23.90 | Open market sale |
| April 26, 2024 | Ludmila Smolyansky | 10,000 | 22.13 | Open market sale |
| April 25, 2024 | Ludmila Smolyansky | 3,620 | 21.56 | Open market sale |
| April 24, 2024 | Ludmila Smolyansky | 10,000 | 21.64 | Open market sale |
| April 23, 2024 | Ludmila Smolyansky | 21,968 | 20.33 | Open market sale |
| April 17, 2024 | Ludmila Smolyansky | 10,000 | 20.04 | Open market sale |
| April 15, 2024 | Ludmila Smolyansky | 2,193 | 20.50 | Open market sale |
| April 9, 2024 | Ludmila Smolyansky | 5,000 | 21.59 | Open market sale |
| April 8, 2024 | Ludmila Smolyansky | 5,000 | 20.40 | Open market sale |
| April 5, 2024 | Ludmila Smolyansky | 5,000 | 19.56 | Open market sale |
| March 27, 2024 | Ludmila Smolyansky | 7,000 | 19.04 | Open market sale |
| March 26, 2024 | Ludmila Smolyansky | 13,000 | 18.71 | Open market sale |
| March 25, 2024 | Ludmila Smolyansky | 10,000 | 17.57 | Open market sale |
| March 22, 2024 | Ludmila Smolyansky | 3,852 | 15.80 | Open market sale |
| March 21, 2024 | Ludmila Smolyansky | 2,000 | 13.91 | Open market sale |
| March 21, 2024 | Ludmila Smolyansky | 3,000 | 14.52 | Open market sale |
| March 21, 2024 | Ludmila Smolyansky | 3,000 | 15.05 | Open market sale |
| March 20, 2024 | Ludmila Smolyansky | 13,000 | 12.87 | Open market sale |
| February 27, 2024 | Ludmila Smolyansky | 1,606 | 12.35 | Open market sale |
| February 26, 2024 | Ludmila Smolyansky | 13,542 | 12.34 | Open market sale |
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct.
| Date: April 26, 2024 | /s/ Ludmila Smolyansky | |
| Ludmila Smolyansky | ||
| Date: April 26, 2024 | /s/ Edward Smolyansky | |
| Edward Smolyansky | ||
| THE EDWARD SMOLYANSKY TRUST 2/2/16 | ||
| Date: April 26, 2024 | By: | /s/ Edward Smolyansky |
| Name: | Edward Smolyansky | |
| Title: | Trustee | |
| 6 |