LWAY Lifeway Foods, Inc. - 8-K

Item 8.01.

Other Events.

On April 30, 2026 Lifeway Foods, Inc. (the “Company) filed a
definitive proxy statement (the “Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) for
the solicitation of proxies in connection with the annual meeting of the Company’s shareholders to be held on June 17, 2026 to consider
and vote on, among other proposals, the election of directors to the Company’s board of directors (the “Board”).

Proposal One in the Proxy Statement presented seven (7) nominees for
election to the Board consisting of all of the current members of the Board other than Jason Scher (the “Proposal One Nominees”).
Upon the election of the Proposal One Nominees at the Annual Meeting, the Board had approved a decrease in the size of the Board from
eight (8) directors to seven (7).

The Board has determined that Mr. Scher provides the Board historical
knowledge and continuity while the newer members of the Board continue to learn about the Company and the Board. Accordingly, the Board
has nominated Mr. Scher to stand for re-election as director of the Company at the Annual Meeting and determined that the size of the
Board should continue to be eight (8) directors after election of directors at the Annual Meeting.

Accordingly, on June 3, 2026, the Company filed a supplement to the
Proxy Statement (the “Supplement”) with the SEC to include Jason Scher as a director nominee for election at the Annual Meeting
for a term to expire at the 2027 annual meeting of shareholders (the “2027 Annual Meeting”) and until his successor is duly
elected and qualified.

For technical purposes, the election of Mr. Scher is being considered
as a separate voting matter (Proposal Four).

Shareholders are urged to read the Proxy Statement, the Supplement,
and materials accompanying the Proxy Statement and Supplement carefully before making a voting decision.

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