Lifeway Foods Inc., a leading U.S. supplier of kefir and fermented dairy products, is experiencing shareholder activism ahead of its 2025 Annual Meeting of Shareholders scheduled for December 29, 2025. Edward Smolyansky has submitted dissident nominees for election to the board, challenging the company's slate of director nominees. Institutional Shareholder Services (ISS), an independent proxy advisory firm, has recommended that shareholders vote in favor of all eight of the company’s nominees—Kirk Chartier, Juan Carlos ("JC") Dalto, Rachel Drori, Andee Harris, Susie Hultquist, Dorri McWhorter, Jason Scher, and Julie Smolyansky—and withhold votes from the dissident nominees, George Sent and Edward Smolyansky. Lifeway Foods has encouraged shareholders to vote in advance of the meeting using the WHITE proxy card.