Home › Companies › Lifeway Foods, Inc. › 2025-2026

Lifeway Foods, Inc. 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and Lifeway Foods, Inc.’s Form 8-K, filed 2025-12-31 (Item 5.07 on EDGAR). Page generated 02 October 2026.

45Reported items
141Asset managers
3,260Fund votes
2025-12-29Main meeting date

Proxy season: 2025-2026

Explore Lifeway Foods, Inc. in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by Lifeway Foods, Inc.

These tallies are Lifeway Foods, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-12-31 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX. Lifeway Foods, Inc. reported 2 meetings in this season; each is tabulated separately below, with its own filing.

Lifeway Foods, Inc. — official shareholder meeting results, meeting held 2025-12-29 (Form 8-K, filed 2025-12-31)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Proposal 2: According to the tabulation of voting results, the shareholders did not approve and adopt amendments to the Company's Articles of Incorporation to provide for: (a) the amendment and restatement of the Company's Articles of Incorporation to effectua	8,700,709	123,072	3,593,949	--	23,803	Majority: yes
(b) director indemnification and expense advancement	8,696,518	131,248	3,590,140	--	23,803	Majority: yes
Proposal 3: According to the tabulation of voting results, the shareholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accountants for the year ending December 31, 2025:	9,021,417	69,580	3,350,536	--	0	Majority: yes
Proposal 4: According to the tabulation of voting results, the shareholders approved, on a nonbinding advisory basis, executive compensation.	6,590,702	5,781,223	45,805	--	23,803	Majority: yes
Proposal 6: According to the tabulation of voting results, the shareholders did not approve the shareholder proposal to form a committee of the board to conduct reviews of the Company's management, the Company's strategic plan and the Company's strategic alter	3,619,138	8,520,935	277,657	--	23,803	Majority: no

Source: Lifeway Foods, Inc., Form 8-K, filed with the SEC on 2025-12-31 — read the filing on EDGAR.

Lifeway Foods, Inc. — official shareholder meeting results, meeting held 2026-06-17 (Form 8-K, filed 2026-06-18)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Proposal 2: According to the tabulation of voting results, the shareholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accountants for the year ending December 31, 2026:	10,600,831	142,402	3,238,891	--	0	Majority: yes
Proposal 3: According to the tabulation of voting results, the shareholders approved, on a nonbinding advisory basis, executive compensation.	9,480,869	3,347,326	45,913	--	1,108,016	Majority: yes
Proposal 4: According to the tabulation of voting results, the following is a record of votes cast with respect to the election of Jason Scher, to serve until the 2027 Annual Meeting of the Company's shareholders (or until a successor is elected and qualified)	8,891,948	3,837,148	145,012	--	1,108,016	Majority: yes

Source: Lifeway Foods, Inc., Form 8-K, filed with the SEC on 2026-06-18 — read the filing on EDGAR.

How asset managers voted at the Lifeway Foods, Inc. 2025-2026 meetings

Each item below shows how the 141 asset managers that disclosed a Lifeway Foods, Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of Lifeway Foods, Inc.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Vote, on a non-binding advisory basis, on the frequency (i.e., every one, two, or three years) of holding the say-on-pay vote.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-12-29.

Combines 3 wordings of this item as funds reported it.

65% fund support · no official result

ONE YEAR 69%1 YEAR 22%7%

The 117 asset managers below cast 65% of the shares they voted on this item FOR (1,889 for, 1,015 against).

FOR: 1,889 (0.0%)AGAINST: 1,015 (0.0%)ONE YEAR: 3,092,276 (69.0%)1 YEAR: 1,006,837 (22.5%)NOT VOTED: 331,878 (7.4%)THREE YEARS: 41,855 (0.9%)3 YEARS: 2,592 (0.1%)

Largest asset managers voting on “Vote, on a non-binding advisory basis, on the frequency (i.e., every one, two, or three years) of holding the ” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Divisadero Street Capital Management, LP	0	0	0	0	One Year
Renaissance	0	0	0	0	Not Voted
Vanguard	0	0	0	0	One Year
Gabelli	0	0	0	0	1 Year
BlackRock	0	0	0	0	1 Year
Northern Lights Fund Trust IV	0	0	0	0	1 Year
GEODE CAPITAL MANAGEMENT, LLC	0	0	0	0	One Year
Equitable	0	0	0	0	One Year
TUDOR INVESTMENT CORP ET AL	0	0	0	0	1 Year
Fidelity	0	0	0	0	One Year
BALYASNY ASSET MANAGEMENT L.P.	0	0	0	0	1 Year
State Street	0	0	0	0	One Year
American Century	0	0	0	0	One Year
Two Sigma	0	0	0	0	One Year
Northern Trust	0	0	0	0	1 Year
Dimensional	0	0	0	0	Three Years
Nuveen	0	0	0	0	One Year
TIAA	0	0	0	0	One Year
SEI	0	0	0	0	1 Year
Newton Investment Management North America, LLC	0	0	0	0	One Year
Charles Schwab	0	0	0	0	1 Year
Lazard	0	0	0	0	One Year
AMERIPRISE FINANCIAL INC	0	0	0	0	One Year
ACADIAN ASSET MANAGEMENT LLC	0	0	0	0	One Year
MARSHALL WACE, LLP	0	0	0	0	1 Year

Showing the 25 largest of 117 asset managers. See all 117 in the interactive database.

2. TO APPROVE, BY NON-BINDING ADVISORY VOTE, EXECUTIVE COMPENSATION.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2026-06-17.

Combines 2 wordings of this item as funds reported it.

74% Majority: yes · of votes cast

FOR 74%AGAINST 26%

FOR: 9,480,869AGAINST: 3,347,326

Lifeway Foods, Inc.’s own tally for this item (“Proposal 3: According to the tabulation of voting results, the shareholders approved, on a nonbinding advisory basis, executive compensation.”): 9,480,869 for, 3,347,326 against, per its Form 8-K filed 2026-06-18 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 62% for, 22% against (84% of the company cast a for/against vote).

The 114 asset managers below cast 99.4% of the shares they voted on this item FOR (2,461,170 for, 12,930 against).

FOR 99.4%

FOR: 2,461,170 (99.5%)AGAINST: 12,930 (0.5%)

Largest asset managers voting on “TO APPROVE, BY NON-BINDING ADVISORY VOTE, EXECUTIVE COMPENSATION.” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	325,527	For
Gabelli	267,960	For
Renaissance	248,337	For
BlackRock	205,412	For
Equitable	186,467	For
TUDOR INVESTMENT CORP ET AL	179,344	For
GEODE CAPITAL MANAGEMENT, LLC	144,058	For
Slotnik Capital, LLC	130,473	For
Fidelity	125,541	For
State Street	70,990	For
Dimensional	67,722	For
Two Sigma	54,772	For
De Lisle Partners LLP	50,150	For
Northern Trust	46,627	For
MARSHALL WACE, LLP	44,073	For
Northern Lights Fund Trust IV	27,257	For
Charles Schwab	27,230	For
American Century	17,723	For
Goldman Sachs	17,128	For
MELLON INVESTMENTS Corp	16,586	For
CORSAIR CAPITAL MANAGEMENT, L.P.	14,426	For
BRIDGEWAY CAPITAL MANAGEMENT, LLC	12,500	For
BRIDGEWAY FUNDS INC	12,100	For
Citadel	11,011	For
AMERIPRISE FINANCIAL INC	10,239	For

Showing the 25 largest of 114 asset managers. See all 114 in the interactive database.

3. TO APPROVE, BY NON-BINDING ADVISORY VOTE, EXECUTIVE COMPENSATION.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-12-29.

Combines 2 wordings of this item as funds reported it.

53.3% Majority: yes · of votes cast

FOR 53.3%AGAINST 46.7%

FOR: 6,590,702AGAINST: 5,781,223

Lifeway Foods, Inc.’s own tally for this item (“Proposal 4: According to the tabulation of voting results, the shareholders approved, on a nonbinding advisory basis, executive compensation.”): 6,590,702 for, 5,781,223 against, per its Form 8-K filed 2025-12-31 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 43% for, 38% against (81% of the company cast a for/against vote).

The 97 asset managers below cast 29% of the shares they voted on this item FOR (792,064 for, 1,960,382 against).

FOR 29%AGAINST 71%

FOR: 792,064 (28.8%)AGAINST: 1,960,382 (71.2%)

Largest asset managers voting on “TO APPROVE, BY NON-BINDING ADVISORY VOTE, EXECUTIVE COMPENSATION.” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Renaissance	0	633,058	Against
Vanguard	292,203	3,233	For
Gabelli	231,918	0	For
BlackRock	422	222,086	Against
Slotnik Capital, LLC	0	136,061	Against
GEODE CAPITAL MANAGEMENT, LLC	0	131,573	Against
TUDOR INVESTMENT CORP ET AL	0	127,943	Against
Equitable	112,500	8,361	For
Fidelity	323	104,678	Against
BALYASNY ASSET MANAGEMENT L.P.	0	70,657	Against
State Street	56,484	0	For
American Century	0	56,331	Against
Two Sigma	0	46,960	Against
Northern Trust	41,428	501	For
Nuveen	0	38,731	Against
SEI	0	36,748	Against
Newton Investment Management North America, LLC	0	32,829	Against
TIAA	0	32,780	Against
Charles Schwab	0	30,844	Against
Lazard	0	29,066	Against
AMERIPRISE FINANCIAL INC	0	27,675	Against
ACADIAN ASSET MANAGEMENT LLC	0	27,303	Against
Dimensional	0	25,389	Against
MARSHALL WACE, LLP	0	25,208	Against
MELLON INVESTMENTS Corp	0	17,878	Against

Showing the 25 largest of 97 asset managers. See all 97 in the interactive database.

4. Election of Directors: Company Nominees: Andee Harris

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.3%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (884,725 for, 0 against).

FOR: 884,725 (99.3%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Andee Harris” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	293,498	For
BlackRock	138,934	For
Equitable	128,267	For
Fidelity	114,678	For
TIAA	38,731	For
American Century	28,137	For
Dimensional	24,196	For
SEI	18,374	For
Northern Lights Fund Trust IV	16,624	For
Charles Schwab	15,405	For
Lincoln Financial	4,199	For
TETON WESTWOOD FUNDS	8,100	For
Goldman Sachs	8,054	For
QUANTITATIVE MASTER SERIES LLC	6,754	For
GDL FUND	6,000	For
Lazard	3,894	For
Brighthouse	1,800	For
Gabelli	3,000	For
AQR	2,837	For
Jackson National	2,592	For
Global X	2,397	For
Northern Trust	2,090	For
GPS Funds I	1,867	For
Pacific Life	1,718	For
John Hancock	1,662	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

5. Election of Directors: Company Nominees: Dorri McWhorter

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 5 wordings of this item as funds reported it.

100% fund support · no official result

FOR 81%13%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (725,652 for, 0 against).

FOR: 725,652 (81.5%)ABSTAIN: 46,573 (5.2%)WITHHELD: 112,500 (12.6%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Dorri McWhorter” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	293,498	0	For
BlackRock	138,934	0	For
Equitable	15,767	0	Withheld
Fidelity	114,678	0	For
TIAA	38,731	0	For
American Century	28,137	0	For
Dimensional	0	24,196	Abstain
SEI	18,374	0	For
Northern Lights Fund Trust IV	16,624	0	For
Charles Schwab	15,405	0	For
Lincoln Financial	3,500	699	Not Voted
TETON WESTWOOD FUNDS	0	8,100	Abstain
Goldman Sachs	8,054	0	For
QUANTITATIVE MASTER SERIES LLC	6,754	0	For
GDL FUND	0	6,000	Abstain
Lazard	3,894	0	For
Brighthouse	1,800	0	For
Gabelli	0	3,000	Abstain
AQR	2,837	0	For
Jackson National	0	2,592	Abstain
Global X	2,397	0	For
Northern Trust	2,090	0	For
GPS Funds I	1,867	0	For
Pacific Life	1,718	0	For
John Hancock	1,662	0	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

6. Election of Directors: Company Nominees: Jason Scher

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 81%13%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (725,652 for, 0 against).

FOR: 725,652 (81.5%)ABSTAIN: 46,573 (5.2%)WITHHELD: 112,500 (12.6%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Jason Scher” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	293,498	0	For
BlackRock	138,934	0	For
Equitable	15,767	0	Withheld
Fidelity	114,678	0	For
TIAA	38,731	0	For
American Century	28,137	0	For
Dimensional	0	24,196	Abstain
SEI	18,374	0	For
Northern Lights Fund Trust IV	16,624	0	For
Charles Schwab	15,405	0	For
Lincoln Financial	3,500	699	Not Voted
TETON WESTWOOD FUNDS	0	8,100	Abstain
Goldman Sachs	8,054	0	For
QUANTITATIVE MASTER SERIES LLC	6,754	0	For
GDL FUND	0	6,000	Abstain
Lazard	3,894	0	For
Brighthouse	1,800	0	For
Gabelli	0	3,000	Abstain
AQR	2,837	0	For
Jackson National	0	2,592	Abstain
Global X	2,397	0	For
Northern Trust	2,090	0	For
GPS Funds I	1,867	0	For
Pacific Life	1,718	0	For
John Hancock	1,662	0	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

7. Election of Directors: Company Nominees: Juan Carlos (JC) Dalto

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 96%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (856,252 for, 0 against).

FOR: 856,252 (96.1%)ABSTAIN: 28,473 (3.2%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Juan Carlos (JC) Dalto” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	293,498	0	For
BlackRock	138,934	0	For
Equitable	128,267	0	For
Fidelity	114,678	0	For
TIAA	38,731	0	For
American Century	28,137	0	For
Dimensional	0	24,196	Abstain
SEI	18,374	0	For
Northern Lights Fund Trust IV	16,624	0	For
Charles Schwab	15,405	0	For
Lincoln Financial	3,500	699	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
Goldman Sachs	8,054	0	For
QUANTITATIVE MASTER SERIES LLC	6,754	0	For
GDL FUND	6,000	0	For
Lazard	3,894	0	For
Brighthouse	1,800	0	For
Gabelli	3,000	0	For
AQR	2,837	0	For
Jackson National	0	2,592	Abstain
Global X	2,397	0	For
Northern Trust	2,090	0	For
GPS Funds I	1,867	0	For
Pacific Life	1,718	0	For
John Hancock	1,662	0	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

8. Election of Directors: Company Nominees: Julie Smolyansky

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 96%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (856,252 for, 0 against).

FOR: 856,252 (96.1%)ABSTAIN: 28,473 (3.2%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Julie Smolyansky” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	293,498	0	For
BlackRock	138,934	0	For
Equitable	128,267	0	For
Fidelity	114,678	0	For
TIAA	38,731	0	For
American Century	28,137	0	For
Dimensional	0	24,196	Abstain
SEI	18,374	0	For
Northern Lights Fund Trust IV	16,624	0	For
Charles Schwab	15,405	0	For
Lincoln Financial	3,500	699	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
Goldman Sachs	8,054	0	For
QUANTITATIVE MASTER SERIES LLC	6,754	0	For
GDL FUND	6,000	0	For
Lazard	3,894	0	For
Brighthouse	1,800	0	For
Gabelli	3,000	0	For
AQR	2,837	0	For
Jackson National	0	2,592	Abstain
Global X	2,397	0	For
Northern Trust	2,090	0	For
GPS Funds I	1,867	0	For
Pacific Life	1,718	0	For
John Hancock	1,662	0	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

9. Election of Directors: Company Nominees: Kirk Chartier

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.3%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (884,725 for, 0 against).

FOR: 884,725 (99.3%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Kirk Chartier” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	293,498	For
BlackRock	138,934	For
Equitable	128,267	For
Fidelity	114,678	For
TIAA	38,731	For
American Century	28,137	For
Dimensional	24,196	For
SEI	18,374	For
Northern Lights Fund Trust IV	16,624	For
Charles Schwab	15,405	For
Lincoln Financial	4,199	For
TETON WESTWOOD FUNDS	8,100	For
Goldman Sachs	8,054	For
QUANTITATIVE MASTER SERIES LLC	6,754	For
GDL FUND	6,000	For
Lazard	3,894	For
Brighthouse	1,800	For
Gabelli	3,000	For
AQR	2,837	For
Jackson National	2,592	For
Global X	2,397	For
Northern Trust	2,090	For
GPS Funds I	1,867	For
Pacific Life	1,718	For
John Hancock	1,662	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

10. Election of Directors: Company Nominees: Rachel Drori

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.3%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (884,725 for, 0 against).

FOR: 884,725 (99.3%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Rachel Drori” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	293,498	For
BlackRock	138,934	For
Equitable	128,267	For
Fidelity	114,678	For
TIAA	38,731	For
American Century	28,137	For
Dimensional	24,196	For
SEI	18,374	For
Northern Lights Fund Trust IV	16,624	For
Charles Schwab	15,405	For
Lincoln Financial	4,199	For
TETON WESTWOOD FUNDS	8,100	For
Goldman Sachs	8,054	For
QUANTITATIVE MASTER SERIES LLC	6,754	For
GDL FUND	6,000	For
Lazard	3,894	For
Brighthouse	1,800	For
Gabelli	3,000	For
AQR	2,837	For
Jackson National	2,592	For
Global X	2,397	For
Northern Trust	2,090	For
GPS Funds I	1,867	For
Pacific Life	1,718	For
John Hancock	1,662	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

11. Election of Directors: Company Nominees: Susie Hultquist

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.3%

The 47 asset managers below cast 100% of the shares they voted on this item FOR (884,725 for, 0 against).

FOR: 884,725 (99.3%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Company Nominees: Susie Hultquist” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	293,498	For
BlackRock	138,934	For
Equitable	128,267	For
Fidelity	114,678	For
TIAA	38,731	For
American Century	28,137	For
Dimensional	24,196	For
SEI	18,374	For
Northern Lights Fund Trust IV	16,624	For
Charles Schwab	15,405	For
Lincoln Financial	4,199	For
TETON WESTWOOD FUNDS	8,100	For
Goldman Sachs	8,054	For
QUANTITATIVE MASTER SERIES LLC	6,754	For
GDL FUND	6,000	For
Lazard	3,894	For
Brighthouse	1,800	For
Gabelli	3,000	For
AQR	2,837	For
Jackson National	2,592	For
Global X	2,397	For
Northern Trust	2,090	For
GPS Funds I	1,867	For
Pacific Life	1,718	For
John Hancock	1,662	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

12. Election of Directors: Opposition Nominees: Edward Smolyansky

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

— fund support · no official result

ABSTAIN 87%13%

No shares were cast for or against this item by the managers below — every disclosed position was an abstention or was not voted.

ABSTAIN: 772,225 (86.7%)WITHHELD: 112,500 (12.6%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Opposition Nominees: Edward Smolyansky” at Lifeway Foods, Inc., 2025-2026
Asset manager	Abstain	Vote
Vanguard	293,498	Abstain
BlackRock	138,934	Abstain
Equitable	15,767	Withheld
Fidelity	114,678	Abstain
TIAA	38,731	Abstain
American Century	28,137	Abstain
Dimensional	24,196	Abstain
SEI	18,374	Abstain
Northern Lights Fund Trust IV	16,624	Abstain
Charles Schwab	15,405	Abstain
Lincoln Financial	4,199	Abstain
TETON WESTWOOD FUNDS	8,100	Abstain
Goldman Sachs	8,054	Abstain
QUANTITATIVE MASTER SERIES LLC	6,754	Abstain
GDL FUND	6,000	Abstain
Lazard	3,894	Abstain
Brighthouse	1,800	Abstain
Gabelli	3,000	Abstain
AQR	2,837	Abstain
Jackson National	2,592	Abstain
Global X	2,397	Abstain
Northern Trust	2,090	Abstain
GPS Funds I	1,867	Abstain
Pacific Life	1,718	Abstain
John Hancock	1,662	Abstain

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

13. Election of Directors: Opposition Nominees: George Sent

DIRECTOR ELECTIONS

Meeting held 2025-12-29.

Combines 4 wordings of this item as funds reported it.

— fund support · no official result

ABSTAIN 87%13%

No shares were cast for or against this item by the managers below — every disclosed position was an abstention or was not voted.

ABSTAIN: 772,225 (86.7%)WITHHELD: 112,500 (12.6%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “Election of Directors: Opposition Nominees: George Sent” at Lifeway Foods, Inc., 2025-2026
Asset manager	Abstain	Vote
Vanguard	293,498	Abstain
BlackRock	138,934	Abstain
Equitable	15,767	Withheld
Fidelity	114,678	Abstain
TIAA	38,731	Abstain
American Century	28,137	Abstain
Dimensional	24,196	Abstain
SEI	18,374	Abstain
Northern Lights Fund Trust IV	16,624	Abstain
Charles Schwab	15,405	Abstain
Lincoln Financial	4,199	Abstain
TETON WESTWOOD FUNDS	8,100	Abstain
Goldman Sachs	8,054	Abstain
QUANTITATIVE MASTER SERIES LLC	6,754	Abstain
GDL FUND	6,000	Abstain
Lazard	3,894	Abstain
Brighthouse	1,800	Abstain
Gabelli	3,000	Abstain
AQR	2,837	Abstain
Jackson National	2,592	Abstain
Global X	2,397	Abstain
Northern Trust	2,090	Abstain
GPS Funds I	1,867	Abstain
Pacific Life	1,718	Abstain
John Hancock	1,662	Abstain

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

14. Provide for director indemnification and expense advancement.

CORPORATE GOVERNANCEMajority of the votes cast: yes

Meeting held 2025-12-29.

Combines 2 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 8,696,518AGAINST: 131,248

Lifeway Foods, Inc.’s own tally for this item (“(b) director indemnification and expense advancement”): 8,696,518 for, 131,248 against, per its Form 8-K filed 2025-12-31 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 57% for, 0.9% against (58% of the company cast a for/against vote).

The 47 asset managers below cast 100% of the shares they voted on this item FOR (754,125 for, 0 against).

FOR 85%ABSTAIN 15%

FOR: 754,125 (85.2%)ABSTAIN: 130,600 (14.8%)

Largest asset managers voting on “Provide for director indemnification and expense advancement.” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	293,498	0	For
BlackRock	138,934	0	For
Equitable	15,767	112,500	Abstain
Fidelity	114,678	0	For
TIAA	38,731	0	For
American Century	28,137	0	For
Dimensional	24,196	0	For
SEI	18,374	0	For
Northern Lights Fund Trust IV	16,624	0	For
Charles Schwab	15,405	0	For
TETON WESTWOOD FUNDS	0	8,100	Abstain
Goldman Sachs	8,054	0	For
QUANTITATIVE MASTER SERIES LLC	6,754	0	For
GDL FUND	0	6,000	Abstain
Lincoln Financial	4,199	0	For
Lazard	3,894	0	For
Gabelli	0	3,000	Abstain
AQR	2,837	0	For
Jackson National	2,592	0	For
Global X	2,397	0	For
Northern Trust	2,090	0	For
GPS Funds I	1,867	0	For
Brighthouse	1,800	0	For
Pacific Life	1,718	0	For
John Hancock	1,662	0	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

15. To approve and adopt amendments to the Articles of Incorporation to provide for: The amendment and restatement of the Articles to effectuate ministerial changes and provide for director exculpation.

SHAREHOLDER RIGHTS AND DEFENSESMajority of the votes cast: yes

Meeting held 2025-12-29.

99% Majority: yes · of votes cast

FOR 99%

FOR: 8,700,709AGAINST: 123,072

Lifeway Foods, Inc.’s own tally for this item (“Proposal 2: According to the tabulation of voting results, the shareholders did not approve and adopt amendments to the Company's Articles of Incorporation to provide for: (a) the amendment and restatement of the Company”): 8,700,709 for, 123,072 against, per its Form 8-K filed 2025-12-31 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 57% for, 0.9% against (58% of the company cast a for/against vote).

The 47 asset managers below cast 100% of the shares they voted on this item FOR (754,125 for, 0 against).

FOR 85%ABSTAIN 15%

FOR: 754,125 (85.2%)ABSTAIN: 130,600 (14.8%)

Largest asset managers voting on “To approve and adopt amendments to the Articles of Incorporation to provide for: The amendment and restatement” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	293,498	0	For
BlackRock	138,934	0	For
Equitable	15,767	112,500	Abstain
Fidelity	114,678	0	For
TIAA	38,731	0	For
American Century	28,137	0	For
Dimensional	24,196	0	For
SEI	18,374	0	For
Northern Lights Fund Trust IV	16,624	0	For
Charles Schwab	15,405	0	For
TETON WESTWOOD FUNDS	0	8,100	Abstain
Goldman Sachs	8,054	0	For
QUANTITATIVE MASTER SERIES LLC	6,754	0	For
GDL FUND	0	6,000	Abstain
Lincoln Financial	4,199	0	For
Lazard	3,894	0	For
Gabelli	0	3,000	Abstain
AQR	2,837	0	For
Jackson National	2,592	0	For
Global X	2,397	0	For
Northern Trust	2,090	0	For
GPS Funds I	1,867	0	For
Brighthouse	1,800	0	For
Pacific Life	1,718	0	For
John Hancock	1,662	0	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

16. TO CONSIDER A NON-BINDING SHAREHOLDER PROPOSAL REGARDING FORMATION OF A COMMITTEE OF THE BOARD TO CONDUCT REVIEWS OF THE COMPANY'S MANAGEMENT, THE COMPANY'S STRATEGIC PLAN AND THE COMPANY'S STRATEGIC ALTERNATIVES.

CORPORATE GOVERNANCEMajority of the votes cast: no

Meeting held 2025-12-29.

30% Majority: no · of votes cast

FOR 30%AGAINST 70%

FOR: 3,619,138AGAINST: 8,520,935

Lifeway Foods, Inc.’s own tally for this item (“Proposal 6: According to the tabulation of voting results, the shareholders did not approve the shareholder proposal to form a committee of the board to conduct reviews of the Company's management, the Company's strategi”): 3,619,138 for, 8,520,935 against, per its Form 8-K filed 2025-12-31 (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 24% for, 56% against (80% of the company cast a for/against vote).

The 47 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 754,125 against).

AGAINST 85%ABSTAIN 15%

AGAINST: 754,125 (85.2%)ABSTAIN: 130,600 (14.8%)

Largest asset managers voting on “TO CONSIDER A NON-BINDING SHAREHOLDER PROPOSAL REGARDING FORMATION OF A COMMITTEE OF THE BOARD TO CONDUCT REVI” at Lifeway Foods, Inc., 2025-2026
Asset manager	Against	Abstain	Vote
Vanguard	293,498	0	Against
BlackRock	138,934	0	Against
Equitable	15,767	112,500	Abstain
Fidelity	114,678	0	Against
TIAA	38,731	0	Against
American Century	28,137	0	Against
Dimensional	24,196	0	Against
SEI	18,374	0	Against
Northern Lights Fund Trust IV	16,624	0	Against
Charles Schwab	15,405	0	Against
TETON WESTWOOD FUNDS	0	8,100	Abstain
Goldman Sachs	8,054	0	Against
QUANTITATIVE MASTER SERIES LLC	6,754	0	Against
GDL FUND	0	6,000	Abstain
Lincoln Financial	4,199	0	Against
Lazard	3,894	0	Against
Gabelli	0	3,000	Abstain
AQR	2,837	0	Against
Jackson National	2,592	0	Against
Global X	2,397	0	Against
Northern Trust	2,090	0	Against
GPS Funds I	1,867	0	Against
Brighthouse	1,800	0	Against
Pacific Life	1,718	0	Against
John Hancock	1,662	0	Against

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

17. To ratify Grant Thornton LLP as our independent auditor for fiscal 2025.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2025-12-29.

Combines 3 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 9,021,417AGAINST: 69,580

Lifeway Foods, Inc.’s own tally for this item (“Proposal 3: According to the tabulation of voting results, the shareholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accountants for the year ending December 31, 2025:”): 9,021,417 for, 69,580 against, per its Form 8-K filed 2025-12-31 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 59% for, 0.5% against (60% of the company cast a for/against vote).

The 47 asset managers below cast 100% of the shares they voted on this item FOR (884,725 for, 0 against).

FOR 99.3%

FOR: 884,725 (99.3%)NOT VOTED: 6,099 (0.7%)

Largest asset managers voting on “To ratify Grant Thornton LLP as our independent auditor for fiscal 2025.” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	293,498	For
BlackRock	138,934	For
Equitable	128,267	For
Fidelity	114,678	For
TIAA	38,731	For
American Century	28,137	For
Dimensional	24,196	For
SEI	18,374	For
Northern Lights Fund Trust IV	16,624	For
Charles Schwab	15,405	For
Lincoln Financial	4,199	For
TETON WESTWOOD FUNDS	8,100	For
Goldman Sachs	8,054	For
QUANTITATIVE MASTER SERIES LLC	6,754	For
GDL FUND	6,000	For
Lazard	3,894	For
Brighthouse	1,800	For
Gabelli	3,000	For
AQR	2,837	For
Jackson National	2,592	For
Global X	2,397	For
Northern Trust	2,090	For
GPS Funds I	1,867	For
Pacific Life	1,718	For
John Hancock	1,662	For

Showing the 25 largest of 47 asset managers. See all 47 in the interactive database.

18. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Andee Harris

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 4 wordings of this item as funds reported it.

73% fund support · no official result

FOR 73%AGAINST 27%

The 46 asset managers below cast 73% of the shares they voted on this item FOR (656,882 for, 243,091 against).

FOR: 656,882 (73.0%)AGAINST: 243,091 (27.0%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,419	1	For
Equitable	14,467	172,000	Against
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	0	42,169	Against
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	10,600	0	For
TETON WESTWOOD FUNDS	0	10,000	Against
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	0	6,000	Against
TIAA	5,951	0	For
Gabelli	0	5,000	Against
Lincoln Financial	3,500	699	For
AIG/SunAmerica	2,684	0	For
Jackson National	0	2,592	Against
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	0	1,756	Against
John Hancock	0	1,579	Against
GPS Funds I	1,395	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

19. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Dorri McWhorter

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 5 wordings of this item as funds reported it.

72% fund support · no official result

FOR 72%AGAINST 28%

The 46 asset managers below cast 72% of the shares they voted on this item FOR (644,206 for, 255,767 against).

FOR: 644,206 (71.6%)AGAINST: 255,767 (28.4%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,179	241	For
Equitable	14,467	172,000	Against
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	0	42,169	Against
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	0	10,600	Against
TETON WESTWOOD FUNDS	0	10,000	Against
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	0	6,000	Against
TIAA	5,951	0	For
Gabelli	0	5,000	Against
Lincoln Financial	3,500	699	For
AIG/SunAmerica	2,684	0	For
Jackson National	0	2,592	Against
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	0	1,756	Against
John Hancock	0	1,579	Against
GPS Funds I	0	1,395	Against

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

20. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Julie Smolyansky

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 4 wordings of this item as funds reported it.

95% fund support · no official result

FOR 95%

The 46 asset managers below cast 95% of the shares they voted on this item FOR (850,632 for, 49,341 against).

FOR: 850,632 (94.5%)AGAINST: 49,341 (5.5%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,419	1	For
Equitable	186,467	0	For
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	0	42,169	Against
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	10,600	0	For
TETON WESTWOOD FUNDS	10,000	0	For
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	6,000	0	For
TIAA	5,951	0	For
Gabelli	5,000	0	For
Lincoln Financial	3,500	699	For
AIG/SunAmerica	2,684	0	For
Jackson National	0	2,592	Against
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	0	1,756	Against
John Hancock	0	1,579	Against
GPS Funds I	1,395	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

21. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Kirk Chartier

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 4 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.8%

The 46 asset managers below cast 99.8% of the shares they voted on this item FOR (898,394 for, 1,579 against).

FOR: 898,394 (99.8%)AGAINST: 1,579 (0.2%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,420	0	For
Equitable	186,467	0	For
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	42,169	0	For
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	10,600	0	For
TETON WESTWOOD FUNDS	10,000	0	For
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	6,000	0	For
TIAA	5,951	0	For
Gabelli	5,000	0	For
Lincoln Financial	4,199	0	For
AIG/SunAmerica	2,684	0	For
Jackson National	2,592	0	For
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	1,756	0	For
John Hancock	0	1,579	Against
GPS Funds I	1,395	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

22. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Rachel Drori

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 4 wordings of this item as funds reported it.

95% fund support · no official result

FOR 95%

The 46 asset managers below cast 95% of the shares they voted on this item FOR (850,632 for, 49,341 against).

FOR: 850,632 (94.5%)AGAINST: 49,341 (5.5%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,419	1	For
Equitable	186,467	0	For
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	0	42,169	Against
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	10,600	0	For
TETON WESTWOOD FUNDS	10,000	0	For
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	6,000	0	For
TIAA	5,951	0	For
Gabelli	5,000	0	For
Lincoln Financial	3,500	699	For
AIG/SunAmerica	2,684	0	For
Jackson National	0	2,592	Against
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	0	1,756	Against
John Hancock	0	1,579	Against
GPS Funds I	1,395	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

23. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Susie Hultquist

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 4 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.8%

The 46 asset managers below cast 99.8% of the shares they voted on this item FOR (898,394 for, 1,579 against).

FOR: 898,394 (99.8%)AGAINST: 1,579 (0.2%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,420	0	For
Equitable	186,467	0	For
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	42,169	0	For
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	10,600	0	For
TETON WESTWOOD FUNDS	10,000	0	For
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	6,000	0	For
TIAA	5,951	0	For
Gabelli	5,000	0	For
Lincoln Financial	4,199	0	For
AIG/SunAmerica	2,684	0	For
Jackson National	2,592	0	For
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	1,756	0	For
John Hancock	0	1,579	Against
GPS Funds I	1,395	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

24. TO ELECT JASON SCHER TO SERVE AS A MEMBER OF THE BOARD UNTIL THE 2027 ANNUAL MEETING OF SHAREHOLDERS (OR UNTIL SUCCESSORS ARE ELECTED AND QUALIFIED).

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-06-17.

Combines 2 wordings of this item as funds reported it.

70% Majority: yes · of votes cast

FOR 70%AGAINST 30%

FOR: 8,891,948AGAINST: 3,837,148

Lifeway Foods, Inc.’s own tally for this item (“Proposal 4: According to the tabulation of voting results, the following is a record of votes cast with respect to the election of Jason Scher, to serve until the 2027 Annual Meeting of the Company's shareholders (or unt”): 8,891,948 for, 3,837,148 against, per its Form 8-K filed 2026-06-18 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 58% for, 25% against (84% of the company cast a for/against vote).

The 46 asset managers below cast 72% of the shares they voted on this item FOR (644,419 for, 255,554 against).

FOR 72%AGAINST 28%

FOR: 644,419 (71.6%)AGAINST: 255,554 (28.4%)

Largest asset managers voting on “TO ELECT JASON SCHER TO SERVE AS A MEMBER OF THE BOARD UNTIL THE 2027 ANNUAL MEETING OF SHAREHOLDERS (OR UNTIL” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,419	1	For
Equitable	14,467	172,000	Against
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	0	42,169	Against
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	0	10,600	Against
TETON WESTWOOD FUNDS	0	10,000	Against
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	0	6,000	Against
TIAA	5,951	0	For
Gabelli	0	5,000	Against
Lincoln Financial	3,500	699	For
AIG/SunAmerica	2,684	0	For
Jackson National	0	2,592	Against
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	0	1,756	Against
John Hancock	0	1,579	Against
GPS Funds I	0	1,395	Against

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

25. TO RATIFY GRANT THORNTON LLP AS OUR INDEPENDENT AUDITOR FOR FISCAL YEAR 2026.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2026-06-17.

99% Majority: yes · of votes cast

FOR 99%

FOR: 10,600,831AGAINST: 142,402

Lifeway Foods, Inc.’s own tally for this item (“Proposal 2: According to the tabulation of voting results, the shareholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accountants for the year ending December 31, 2026:”): 10,600,831 for, 142,402 against, per its Form 8-K filed 2026-06-18 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 15,228,763 outstanding shares: 70% for, 1.0% against (71% of the company cast a for/against vote).

The 46 asset managers below cast 100% of the shares they voted on this item FOR (899,973 for, 0 against).

FOR 100%

FOR: 899,973 (100.0%)

Largest asset managers voting on “TO RATIFY GRANT THORNTON LLP AS OUR INDEPENDENT AUDITOR FOR FISCAL YEAR 2026.” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Vote
Vanguard	282,420	For
Equitable	186,467	For
Fidelity	123,599	For
BlackRock	123,025	For
Dimensional	42,169	For
Northern Lights Fund Trust IV	27,257	For
Charles Schwab	13,615	For
BRIDGEWAY FUNDS INC	12,100	For
Goldman Sachs	10,600	For
TETON WESTWOOD FUNDS	10,000	For
American Century	8,833	For
WisdomTree	7,588	For
Crewe Advisors LLC	6,000	For
GDL FUND	6,000	For
TIAA	5,951	For
Gabelli	5,000	For
Lincoln Financial	4,199	For
AIG/SunAmerica	2,684	For
Jackson National	2,592	For
Northern Trust	2,370	For
Global X	2,200	For
Pacific Life	2,059	For
SA FUNDS INVESTMENT TRUST	1,756	For
John Hancock	1,579	For
GPS Funds I	1,395	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

26. To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meeting of Shareholders (or until successors are elected and qualified): Juan Carlos ("JC") Dalto

DIRECTOR ELECTIONS

Meeting held 2026-06-17.

Combines 4 wordings of this item as funds reported it.

95% fund support · no official result

FOR 95%

The 45 asset managers below cast 95% of the shares they voted on this item FOR (850,605 for, 49,341 against).

FOR: 850,605 (94.5%)AGAINST: 49,341 (5.5%)

Largest asset managers voting on “To elect seven (7) members of Lifeway's Board of Directors (the "Board") to serve until the 2027 Annual Meetin” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Vanguard	282,419	1	For
Equitable	186,467	0	For
Fidelity	123,599	0	For
BlackRock	123,025	0	For
Dimensional	0	42,169	Against
Northern Lights Fund Trust IV	27,257	0	For
Charles Schwab	13,615	0	For
BRIDGEWAY FUNDS INC	12,100	0	For
Goldman Sachs	10,600	0	For
TETON WESTWOOD FUNDS	10,000	0	For
American Century	8,833	0	For
WisdomTree	7,588	0	For
Crewe Advisors LLC	6,000	0	For
GDL FUND	6,000	0	For
TIAA	5,951	0	For
Gabelli	5,000	0	For
Lincoln Financial	3,500	699	For
AIG/SunAmerica	2,684	0	For
Jackson National	0	2,592	Against
Northern Trust	2,370	0	For
Global X	2,200	0	For
Pacific Life	2,059	0	For
SA FUNDS INVESTMENT TRUST	0	1,756	Against
John Hancock	0	1,579	Against
GPS Funds I	1,395	0	For

Showing the 25 largest of 45 asset managers. See all 45 in the interactive database.

27. The Anti-Nepotism Proposal: To amend the Company's by-laws, as reflected in Appendix A to the Shareholder Consent Statement, to prohibit the Company from employing or engaging any immediate family member of the Company's president or chief executive officer.

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

16% fund support · no official result

ABSTAIN 74%NOT VOTED 23%

The 16 asset managers below cast 16% of the shares they voted on this item FOR (1,065 for, 5,481 against).

FOR: 1,065 (0.6%)AGAINST: 5,481 (3.0%)ABSTAIN: 132,850 (73.6%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “The Anti-Nepotism Proposal: To amend the Company's by-laws, as reflected in Appendix A to the Shareholder Cons” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Abstain	Vote
Equitable	0	0	113,000	Abstain
SEI	0	0	0	Not Voted
Charles Schwab	0	0	0	Not Voted
TETON WESTWOOD FUNDS	0	0	8,100	Abstain
GDL FUND	0	0	7,000	Abstain
Lincoln Financial	0	3,500	0	Against
Gabelli	0	0	3,000	Abstain
Global X	0	0	0	Not Voted
Comstock Funds, Inc.	0	0	1,750	Abstain
State Street	0	1,395	0	Against
Invesco	1,065	0	0	For
Brinker Capital Destinations Trust	0	233	0	Against
PENN SERIES FUNDS INC	0	200	0	Against
Innovator ETFs Trust	0	153	0	Against
Blackstone Alternative Investment Funds	0	0	0	Not Voted
First Trust	0	0	0	--

28. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Dorri McWhorter

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

29. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Jason Scher

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

30. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Jody Levy

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

31. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Juan Carlos Dalto

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

32. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Julie Smolyansky

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

33. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Perfecto Sanchez

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

34. To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and prior to this Proposal becoming effective, subject to the election of at least one Nominee pursuant to the Director Election Proposal: Pol Sikar

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To remove director of the Company, and any other director appointed by the Board on or after June 15, 2024 and” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

35. The Bylaws Restoration Proposal. To repeal any amendment to the Company's by-laws that is made by the Company's board of directors (the "Board") and becomes effective on or after March 24, 2023 and prior to this Proposal becoming effective:

CORPORATE GOVERNANCE

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 4 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “The Bylaws Restoration Proposal. To repeal any amendment to the Company's by-laws that is made by the Company'” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

36. To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until their respective successors are duly elected and qualified (or, if any such Nominee is unable or unwilling to serve as a director of the Company, or if the Board changes the number of directorships to be a number other than seven, the persons designated as Nominees by the then-remaining N

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

37. To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until their respective successors are duly elected and qualified (or, if any such Nominee is unable or unwilling to serve as a director of the Company, or if the Board changes the number of directorships to be a number other than seven, the persons designated as Nominees by the then-remaining N

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

38. To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until their respective successors are duly elected and qualified (or, if any such Nominee is unable or unwilling to serve as a director of the Company, or if the Board changes the number of directorships to be a number other than seven, the persons designated as Nominees by the then-remaining N

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

39. To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until their respective successors are duly elected and qualified (or, if any such Nominee is unable or unwilling to serve as a director of the Company, or if the Board changes the number of directorships to be a number other than seven, the persons designated as Nominees by the then-remaining N

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

40. To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until their respective successors are duly elected and qualified (or, if any such Nominee is unable or unwilling to serve as a director of the Company, or if the Board changes the number of directorships to be a number other than seven, the persons designated as Nominees by the then-remaining N

OTHER

Meeting held 2025-09-30; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

96% fund support · no official result

FOR 74%NOT VOTED 23%

The 16 asset managers below cast 96% of the shares they voted on this item FOR (133,915 for, 5,481 against).

FOR: 133,915 (74.2%)AGAINST: 5,481 (3.0%)NOT VOTED: 41,147 (22.8%)

Largest asset managers voting on “To elect to serve as director of the Company until the Company's next annual meeting of shareholders and until” at Lifeway Foods, Inc., 2025-2026
Asset manager	For	Against	Vote
Equitable	113,000	0	For
SEI	0	0	Not Voted
Charles Schwab	0	0	Not Voted
TETON WESTWOOD FUNDS	8,100	0	For
GDL FUND	7,000	0	For
Lincoln Financial	0	3,500	Against
Gabelli	3,000	0	For
Global X	0	0	Not Voted
Comstock Funds, Inc.	1,750	0	For
State Street	0	1,395	Against
Invesco	1,065	0	For
Brinker Capital Destinations Trust	0	233	Against
PENN SERIES FUNDS INC	0	200	Against
Innovator ETFs Trust	0	153	Against
Blackstone Alternative Investment Funds	0	0	Not Voted
First Trust	0	0	--

Showing the 40 reported items with the widest manager coverage, of 45 in total. View every item.

Largest Lifeway Foods, Inc. shareholders voting in 2025-2026

Ranked by the number of Lifeway Foods, Inc. shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 15,228,763 shares outstanding at the time of that meeting.

Top Lifeway Foods, Inc. shareholders by shares voted, 2025-2026
#	Asset manager	% of shares outstanding
1	Divisadero Street Capital Management, LP	10.48%
2	Renaissance	4.16%
3	Vanguard	2.02%
4	Gabelli	1.53%
5	BlackRock	1.46%
6	Northern Lights Fund Trust IV	1.09%
7	GEODE CAPITAL MANAGEMENT, LLC	0.86%
8	Equitable	0.84%
9	TUDOR INVESTMENT CORP ET AL	0.84%
10	Fidelity	0.76%

Reported Lifeway Foods, Inc. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

Lifeway Foods, Inc. beneficial owners on record for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
Edward Smolyansky	19.44%	13D
Kenneth Griffin	5.81%	13G
Renaissance Technologies	2.42%	13F
Vanguard Group	2.25%	13F
BlackRock	1.82%	13F
Dimensional Fund Advisors	1.55%	13F
Two Sigma	0.79%	13F
State Street	0.61%	13F
Citadel Advisors	0.47%	13F
BNY Mellon	0.36%	13F

Percentages above are of 15,228,763 shares outstanding, as reported by Lifeway Foods, Inc. on its Form 10-Q dated 2025-11-06 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Lifeway Foods, Inc.’s 10-Q dated 2025-11-06. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At Lifeway Foods, Inc.'s 3 shareholder meetings in the 2025-2026 proxy season (held 2025-09-30, 2025-12-29 and 2026-06-17), 141 asset managers reported how they voted in their SEC Form N-PX filings, covering 3,260 separate fund positions. Their filings are grouped here into 45 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. Lifeway Foods, Inc.'s own Form 8-K tally for this meeting is published below, but no row in it could be matched to the most widely held item, so this page states no certified outcome for that item. On that item — Vote, on a non-binding advisory basis, on the frequency (i.e., every one, two, or three years)… — the reporting funds cast 65% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

Lifeway Foods, Inc. proxy season coverage: 2025-2026 (this page).