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SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person* Divisadero Street Capital Management, LP (Last) (First) (Middle) 3480 MAIN HIGHWAY SUITE 204 (Street) MIAMI FL 33133 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Lifeway Foods, Inc. [ LWAY ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 08/13/2026
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, No Par Value	08/13/2026		P		195,616	A	$24.8729(1)	2,297,156	I	See footnote(2)
Common Stock, No Par Value	08/14/2026		P		15,000	A	$24.6901	2,312,156	I	See footnote(2)
Common Stock, No Par Value	08/17/2026		P		35,952	A	$24.7809(3)	2,348,108	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Divisadero Street Capital Management, LP (Last) (First) (Middle) 3480 MAIN HIGHWAY SUITE 204 (Street) MIAMI FL 33133 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Divisadero Street Partners GP, LLC (Last) (First) (Middle) 3480 MAIN HIGHWAY, SUITE 204 (Street) MIAMI FL 33133 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Divisadero Street Capital, LLC (Last) (First) (Middle) 3480 MAIN HIGHWAY, SUITE 204 (Street) MIAMI FL 33133 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Divisadero Street Partners, L.P. (Last) (First) (Middle) 3480 MAIN HIGHWAY SUITE 204 (Street) MIAMI FL 33133 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Zolezzi William (Last) (First) (Middle) 3480 MAIN HIGHWAY, SUITE 204 (Street) MIAMI FL 33133 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.5375 - $25.4022. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in this footnote to this Form 4.

2. The reported securities are owned directly by Divisadero Street Partners, L.P. (the "Fund"), which is a private investment fund managed by Divisadero Street Capital Management, LP (the "Adviser"), and may be deemed to be indirectly beneficially owned by (i) the Adviser, (ii) Divisadero Street Capital, LLC (the "Adviser GP"), the general partner of the Adviser, (iii) Divisadero Street Partners GP, LLC (the "Fund GP"), the general partner of the Fund, and (iv) William Zolezzi, the manager of both the Adviser GP and the Fund GP.

3. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.6705 - $24.8293. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.

	Divisadero Street Capital Management, LP, By: Divisadero Street Partners GP, LLC, its general partner, By: /s/ William Zolezzi, William Zolezzi, Manager	08/17/2026
	Divisadero Street Capital, LLC, By: /s/ William Zolezzi, William Zolezzi,Manager	08/17/2026
	Divisadero Street Partners GP, LLC, By: /s/ William Zolezzi, William Zolezzi,Manager	08/17/2026
	Divisadero Street Partners, L.P., By: Divisadero Street Partners GP, LLC, its general partner, By: /s/ William Zolezzi, William Zolezzi, Manager	08/17/2026
	William Zolezzi, By: /s/ William Zolezzi	08/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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