Sanvidge Kevin M. 4

What Happened

• Kevin M. Sanvidge, Chairman of the Board of Lake Shore Bancorp, was granted 893 restricted shares (reported as an award/acquisition, code A) on March 18, 2026. The reported acquisition price is $0 (typical for compensation awards); no cash was exchanged in this transaction.
• This is a grant of restricted stock (compensation), not an open-market purchase or sale.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (timely filing).
• Shares granted: 893 restricted shares; reported price: $0; total reported cash value: $0.
• Shares owned after transaction: Not specified in the filing.
• Relevant footnotes from the filing:
  • F1: Shares of restricted stock vest on March 18, 2027.
  • F2: Notes holdings include 893 unvested restricted shares vesting December 9, 2026, and 893 unvested restricted shares vesting March 18, 2027.
  • F3: Options are fully vested.
  • F4: Includes 2,056 remaining unvested options granted April 23, 2024 (vesting over five years); 514 options are vested and exercisable.
• Transaction type: Award/grant of restricted stock (code A). This is compensation, not a market purchase (code P) or sale (code S).

Context

• Restricted stock grants are commonly used as compensation and typically vest over time; they do not necessarily signal immediate insider buying or selling intent. In this case, the filing indicates vesting dates in late 2026 and March 2027.
• For retail investors, purchases (open-market buys) are generally more informative about an insider’s view of the stock; awards are primarily compensation-related.