Lakeland Finl Corp SEC Filings

UBS AG is offering unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of HP Inc. (HPQ). The notes have an 18-month expected term (trade date 16 Jul 2025, maturity 22 Jan 2027) but may terminate early via an automatic call on any quarterly observation date if HPQ’s closing price is at or above the Call Threshold (100 % of the Initial Level).

Investors will receive a contingent fixed coupon between 14.25 % and 15.25 % p.a. (≈ $35.63-$38.13 per $1,000 note per quarter) only when the underlying closes at or above the Coupon Barrier (75 % of Initial Level). Missed coupons are not made up.

Redemption scenarios

• Automatic Call: Principal plus the due coupon is paid on the relevant payment date; no further obligations.
• Held to Maturity: • If final HPQ price ≥ Downside Threshold (75 % of Initial Level), principal is repaid in full. • If final price < Downside Threshold, repayment equals $1,000 × (1 + Underlying Return); investors suffer the same percentage loss as HPQ, down to total loss.

Key economic terms

• Issue price: $1,000; underwriting discount $27.50.
• Estimated initial value: $929.50-$959.50, reflecting dealer fees, hedging and UBS funding spreads.
• Coupon/valuation calendar: semi-annual coupon dates (Oct 21 2025, Jan 22 2026, Apr 21 2026, Jul 21 2026, Oct 21 2026, Maturity).
• Notes are not listed; UBS Securities LLC intends, but is not obliged, to make a market. Initial secondary prices may exceed fair value by the amount of the embedded fees but that premium decays to zero within six months.

Principal risks highlighted

• Market risk: If HPQ falls >25 % and no call occurs, investors face full downside exposure.
• Coupon risk: No payment if HPQ closes below the 75 % barrier on an observation date.
• Credit risk: All payments depend on UBS AG’s ability to pay; the notes carry no FDIC or other guarantee.
• Liquidity / valuation: No exchange listing; sale prior to maturity may be at a substantial discount. Estimated initial value is below issue price.
• Tax: Treated as prepaid derivatives with ordinary income on coupons; tax rules remain uncertain.

The filing emphasises that the product is suitable only for investors who can tolerate the risks of equity-linked, unsecured debt, accept potential loss of principal, require no dividends, and are comfortable with UBS credit exposure.

Lakeland Financial Corp (LKFN) Form 4 filing: Director Brian J. Smith reported two transactions dated 07/07-08/2025.

• Common stock: 650 shares acquired at $0 cost, likely a board equity grant, lifting his direct ownership to 41,435 shares.
• Phantom stock: 268 units credited at a reference price of $65.2852. Total derivative (phantom) holdings rise to 20,091 units, which convert 1-for-1 into common shares after the director’s retirement.

No shares were sold and there is no indication of a 10b5-1 trading plan. The filing reflects routine director compensation and modestly increases alignment between the director and shareholders. The magnitude of the purchase is small relative to LKFN’s outstanding float and therefore is unlikely to be materially market-moving.

The Bank of Nova Scotia (BNS) is marketing a one-year, principal-at-risk structured note linked to Apple Inc. (AAPL) common stock. The Contingent Income Auto-Callable Securities, issued under BNS’s Senior Note Program (Series A), are expected to settle on 16 July 2025 and mature on 16 July 2026 unless called earlier.

Key commercial terms

• Denomination: $1,000 per security; minimum investment $1,000.
• Contingent quarterly coupon: $28.20 (11.28% p.a.) paid if AAPL’s closing price on a determination date is ≥ 80% of the initial share price (“downside threshold”). Missed coupons accrue under a memory feature.
• Automatic call: If on any observation date (other than the final) AAPL closes ≥ 100% of the initial share price (“call threshold”), the note is redeemed for par plus the applicable coupon(s). First call can occur after ~3 months.
• Principal repayment at maturity:
  • If final share price ≥ 80% of initial: return of par plus due coupon(s).
  • If final share price < 80%: physical delivery of AAPL shares (exchange ratio = $1,000 ÷ initial price) whose value may be substantially below par; fractional shares paid in cash.
• Initial estimated value: $946.40 – $976.40 (94.6%–97.6% of issue price) reflecting selling & structuring costs and BNS’s internal funding rate.
• Secondary market / listing: none; any liquidity to be provided by Scotia Capital (USA) Inc., but not guaranteed.
• Credit: senior unsecured obligation of BNS; subject to issuer default risk; not CDIC or FDIC insured and not bail-inable.
• CUSIP/ISIN: 06419DAQ6 / US06419DAQ60.

Investor profile: suited only for investors who (1) accept full downside risk in exchange for an above-market coupon, (2) can tolerate potential delivery of depreciated AAPL shares, (3) do not require dividends, liquidity or upside participation, and (4) are comfortable with BNS credit exposure.

Principal risks

• Loss of principal: a ≥20% decline in AAPL at final observation triggers share delivery worth less than par; loss can reach 100%.
• Coupon uncertainty: coupons are contingent; none may be paid if AAPL trades below the 80% barrier on all observation dates.
• Re-investment risk: early call could limit return to 3–9 months, forcing reinvestment at potentially lower yields.
• Valuation / liquidity: bid prices will reflect dealer models and could be materially below par before maturity.
• Conflict & hedging: BNS and affiliates may hedge or trade AAPL in ways that affect note valuations.
• Tax: intended U.S. treatment as prepaid derivative contracts; coupons taxable as ordinary income; tax results remain uncertain.

Form 4 highlights: Lakeland Financial Corp. (LKFN) director Bradley J. Toothaker reported two insider acquisitions dated 07/07-08/2025.

• Common stock: 650 shares acquired on 07/08/2025 at an indicated price of $0 (likely a board equity grant). Toothaker’s direct ownership rose to 25,213 shares, a 2.6% increase.
• Derivative – Phantom stock: 383 units added on 07/07/2025 at a reference value of $65.2852 each, lifting his phantom balance to 18,122 units. Each unit converts 1-for-1 into common stock and becomes exercisable after the director retires from the Board.

No sales were disclosed, and the filing shows the director remains a board member with no 10% ownership. While the absolute share count is modest relative to the company’s float, continued insider accumulation can signal confidence and aligns director incentives with shareholders.

Lakeland Financial Corp (LKFN) – Insider Form 4 filing dated 7 July 2025

Director Darrianne P. Christian reported two transactions:

• Common stock award: 650 shares acquired on 8 July 2025 under transaction code A (grant/award). No cash price was paid (listed at $0). Post-transaction direct holdings rise to 10,100 shares.
• Phantom stock award: 344 units granted on 7 July 2025 at a reference value of $65.2852 per unit. The units settle 1-for-1 into common shares after the director retires; total phantom units now stand at 4,910.

No dispositions were reported. The filing reflects routine director compensation rather than open-market buying; nevertheless, the increase in both common and deferred equity slightly aligns the director’s interests with shareholders. No other material events, option exercises, or sales were disclosed in this filing.

Lakeland Financial Corp. (LKFN) Form 4 filing dated July 9, 2025 discloses routine director equity activity.

• Reporting person: Director Faraz Abbasi.
• Common-stock transaction: 650 shares acquired on 07/08/2025 at a stated price of $0, likely a board equity award. Direct common-stock holdings rise to 5,200 shares.
• Derivative grant: 293 phantom-stock units awarded on 07/07/2025 at a reference value of $65.2852 each. Total phantom-stock balance increases to 2,061 units. Units convert one-for-one into common stock after the director retires; they expire at that time if unexercised.
• No dispositions, sales, or 10b5-1 plan indications were reported.

The filing signals a modest increase in insider ownership but represents an immaterial number of shares relative to LKFN’s ~25 million shares outstanding. As such, the event is viewed as routine board compensation rather than a market-moving insider purchase.

ALPS Advisors, Inc. and its advised vehicle, Alerian MLP ETF, filed Amendment No. 11 to Schedule 13G disclosing their ownership in Plains All American Pipeline LP (PAA) as of 30 June 2025.

The filing shows the two reporting persons hold 74,402,915 common units, representing 10.58 % of PAA’s outstanding units. Both entities report shared voting and shared dispositive power over the entire stake, with no sole voting or dispositive authority. The ownership is held on behalf of multiple registered investment companies (the “Funds”) for which ALPS Advisors acts as investment adviser; ALPS disclaims beneficial ownership beyond its advisory capacity.

The signatory, Chief Compliance Officer Matthew Sutula, certifies that the securities were acquired and are held in the ordinary course of business, not for the purpose of influencing control of the issuer. No other group activity, subsidiary involvement, or change-of-control intent is indicated.

• Stake size: 74.4 million units
• Ownership percentage: 10.58 %
• Control implications: None stated; passive investment under Rule 13d-1(b)
• Filing type: Passive institutional Schedule 13G, Amendment 11

For investors, the amendment confirms continued, significant passive institutional ownership, which may support liquidity and market stability but does not signal strategic change.

Lakeland Financial Corp (LKFN) – Form 4 insider filing

Director Emily E. Pichon reported the acquisition of 650 common shares on 07/08/2025 (Transaction Code A). The filing shows no cash consideration (price listed as $0), suggesting the shares were likely awarded under a director compensation plan or received as a gift rather than purchased on the open market. Following the transaction, Pichon’s total direct holding increases to 19,488 shares.

The added stake is modest relative to the company’s ~25 million shares outstanding (≈0.003%) and therefore unlikely to be financially material. Nonetheless, any increase in insider ownership is often interpreted as a marginally positive governance signal, indicating ongoing alignment of director and shareholder interests.