Lakeland Financial director granted phantom stock

Christian Darrianne P reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Christian Darrianne P reported acquisition or exercise transactions in this Form 4 filing.

Lakeland Financial Corp director Darrianne P. Christian received a grant of 46 phantom stock units, each linked to one share of Common Stock. This non-cash award increases the director’s phantom stock holdings to 5,481 units. The phantom stock is exercisable, and then expires, after the director’s retirement from the board.

Insider Trade Summary

Grant/Award: 46 shares

Grant/Award 1 txn

Insider Christian Darrianne P

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	46	$61.9216	$3K

Holdings After Transaction: Phantom Stock — 5,481 contracts (Direct)

Footnotes (3)

1. F1. Each phantom stock unit exersises into 1 share of Common Stock.
2. F2. Phantom stock is exercisable after the directors' retirement as a Board member.
3. F3. Phantom shares expire after the directors' retirement as a Board member.

Key Figures

Phantom stock units granted: 46 units Reference price per unit: $61.9216 per unit Total phantom units after grant: 5,481 units +1 more

4 metrics

Phantom stock units granted 46 units Grant of phantom stock units on 2026-05-05

Reference price per unit $61.9216 per unit Transaction price per phantom stock unit

Total phantom units after grant 5,481 units Phantom stock units beneficially owned following transaction

Conversion ratio 1 unit : 1 share Each phantom stock unit exercises into one share of Common Stock

Key Terms

Phantom Stock, Common Stock, exercisable, expires, +1 more

5 terms

Phantom Stock financial

"security_title: "Phantom Stock""

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

exercisable financial

"Phantom stock is exercisable after the directors' retirement as a Board member."

expires financial

"Phantom shares expire after the directors' retirement as a Board member."

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LKFN director Darrianne P. Christian report?

Darrianne P. Christian reported receiving 46 phantom stock units of Lakeland Financial Corp (LKFN). These units are a compensation-related award, not an open-market purchase, and are tied to future delivery of Common Stock after board retirement.

How many phantom stock units does the LKFN director hold after this grant?

After the grant, the director holds a total of 5,481 phantom stock units. This figure reflects the newly awarded 46 units added to the existing balance, all linked to future delivery of Lakeland Financial Common Stock.

What does phantom stock mean in the LKFN Form 4 filing?

Phantom stock represents units whose value tracks Lakeland Financial Common Stock. According to the filing, each unit exercises into one share of Common Stock, typically providing equity-based compensation without immediate share issuance or cash payment.

When can the LKFN phantom stock units be exercised by the director?

The filing states that the phantom stock is exercisable after the director’s retirement as a board member. At that time, each phantom unit converts into one share of Common Stock, and the phantom shares then expire.

Was this LKFN insider transaction a market buy or sell of shares?

No. The transaction is coded as an A (grant or award) of phantom stock, not an open-market buy or sell. It reflects compensation in derivative units rather than trading existing Lakeland Financial Common Stock in the market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/06/2026 - 09:03 AM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Christian Darrianne P

(Last) (First) (Middle)

LAKELAND FINANCIAL CORPORATION

P.O. BOX 1387

(Street)

WARSAW INDIANA 46581

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LAKELAND FINANCIAL CORP [ LKFN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	05/05/2026		A		46		(2)	(3)	Common Stock	46	$61.9216	5,481	D

Explanation of Responses:

1. Each phantom stock unit exersises into 1 share of Common Stock.

2. Phantom stock is exercisable after the directors' retirement as a Board member.

3. Phantom shares expire after the directors' retirement as a Board member.

Remarks:

	/s/ Becka J. Turnbow, Attorney-in-Fact	05/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)