Lifeway Foods (LWAY) Proxy filing summary

Executive summary

• Supplement amends the proxy statement for the 2026 annual meeting scheduled for June 17, 2026, to include Jason Scher as a director nominee.

• Shareholders are now asked to vote on eight nominees for the board, not seven as previously stated.

• Danone North America PBC sold all its shares on May 19, 2026, ending most obligations under a prior cooperation agreement.

Voting matters and shareholder proposals

• Proposal to elect eight directors, including Jason Scher, to serve until the 2027 annual meeting.

• Separate vote (Proposal 4) for the election of Jason Scher as director.

• Advisory vote on executive compensation and ratification of Grant Thornton LLP as independent auditor for 2026.

• Voting instructions can be submitted online, by QR code, or by mail.

Board of directors and corporate governance

• Board size remains at eight directors following the inclusion of Jason Scher.

• Jason Scher brings extensive operational, financial, and strategic experience, especially in the food industry.

• Audit and Corporate Governance Committee recommended Scher's nomination.