SEC Form 4 · accession 0001193125-26-365199
Lake Shore Bancorp, Inc. /MD/ · LSBK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey M. Werdein
Officer — EVP-Commercial Division
Period of report
Aug 21, 2026
Accepted (ET)
Aug 25, 2026 · 4:30 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0002059653
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Aug 21, 2026 | M | 23,132 | $10.62 | A | 77,387 | D | |
| Common StockF2,F3,F4,F5 | Aug 21, 2026 | F | 16,525 | $17.25 | D | 60,862 | D | |
| Common Stock | holding | — | — | — | 20,000 | I | By IRA | |
| Common StockF6 | holding | — | — | — | 7,782 | I | By ESOP | |
| Common StockF7 | holding | — | — | — | 2,000 | I | By Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F1,F8 | $10.62 | Aug 21, 2026 | M | 23,132 | D | — | Oct 21, 2026 | Common Stock | 23,132 | 0 | D |
Explanation of responses
- F1Exercise price amounted to $10.61342469, which represents the original exercise price of $14.38, updated for the 1.3549 to 1.00 exchange in connection with the Company's mutual to stock conversion, so that the aggregate cost of the options remained unchanged after conversion. This and previous filings present the exercise price rounded up to the nearest whole penny, or $10.62. No fractional shares were issued to the reporting person.
- F2The number of shares reported as disposed of represents shares withheld by the issuer through net settlement to satisfy the exercise price of the option award and the tax liability incident to the withholding of shares. No shares were sold in the open market.
- F3Includes 3,025 shares of unvested restricted stock that were granted on March 18, 2026 and vest in four equal installments beginning on the first anniversary of the grant.
- F4Includes 3,063 remaining shares of unvested restricted stock that were granted on March 12, 2025 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant.
- F5Includes 1,717 remaining shares of unvested restricted stock that were granted on April 23, 2024 and were scheduled to vest in four equal annual installments beginning on the first anniversary of the grant.
- F6These shares were acquired pursuant to an Employee Stock Ownership Plan Allocation.
- F7Shares previously reported as indirectly beneficially owned through the reporting person's son are no longer reported because the reporting person has no pecuniary interest in such shares and therefore is not deemed the beneficial owner of those shares.
- F8Options are fully vested.