McGrath John P 4

What Happened
John P. McGrath, a director of Lake Shore Bancorp, was granted 589 shares of restricted stock on March 18, 2026. The grant was reported at $0 (no purchase price) and increases his beneficial ownership by 589 unvested shares. This was an equity award (compensation) rather than a market purchase or sale.

Key Details

• Transaction date: 2026-03-18; Transaction type: Award/Grant (code A). Price reported: $0.00 per share.
• Shares involved: 589 restricted shares granted (all unvested at grant).
• Shares owned after transaction: Not specified in the information provided in this summary.
• Filing date: 2026-03-20 — appears to be filed within the SEC two-business-day window (timely).
• Relevant footnotes from the filing:
  • F1/F2: The 589 restricted shares vest on March 18, 2027.
  • F3: Separate note that stock options (if any) vest 20% per year beginning December 9, 2026 — no option exercise was reported in this transaction.

Context
Restricted stock awards are a form of compensation that typically vest over time; because these shares are unvested until March 18, 2027, McGrath cannot freely sell them until they vest (subject to company plan rules). Grants reported at $0 reflect that no cash was paid at grant; they increase reported beneficial ownership but are different from open-market purchases and do not by themselves indicate a buying/selling decision in the market.