---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-008943"
form_type: "8-K"
ticker: "LWAY"
cik: "0000814586"
company_name: "Lifeway Foods, Inc."
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:57:20.262015+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lifeway Foods enters new employment agreement with CEO Julie Smolyansky; $1M salary, $2M retention bonus

## Summary
- Base salary set at $1,000,000 per year; target annual bonus 80% of base salary, target equity grant 75% of base salary.
- One-time retention bonus of $2,000,000; repayment partially cliffs over 2 years if termination for cause or without good reason before Dec 20, 2026.
- Severance enhanced: 2x salary+bonus for without cause/good reason (non-CIC); 3x for change-in-control termination (new provision).
- New two-year non-compete and non-solicitation covenants added; company also clarified IP ownership except for 'The Kefir Cookbook'.
- Agreement effective January 1, 2025, supercedes prior 2002 agreement; compensation committee advised by independent consultant.

## SEC filing metadata
- accession: 0001683168-24-008943
- form_type: 8-K
- ticker: LWAY
- cik: 0000814586
- company_name: Lifeway Foods, Inc.
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/814586/000168316824008943/0001683168-24-008943-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/814586/000168316824008943/lifeway_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-008943
- JSON: https://secwatch.observer/filing/0001683168-24-008943.json
- Plain text: https://secwatch.observer/filing/0001683168-24-008943.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.