How are LKFN phantom stock units related to common shares?

Each Lakeland Financial phantom stock unit exercises into one share of Common Stock. This 1:1 relationship means 163 phantom units correspond to 163 underlying common shares when they are eventually settled after the director’s retirement.

Lakeland director granted 163 phantom stock units

Lakeland Financial Corp director Blake Augsburger received a grant of 163 phantom stock units on Common Stock, recorded at $61.9216 per unit.

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Form Type

Rhea-AI Filing Summary

Lakeland Financial Corp director Blake Augsburger received a grant of 163 phantom stock units on Common Stock, recorded at $61.9216 per unit. After this compensation award, he holds 19,502 phantom stock units. Each unit converts into one share of Common Stock and becomes exercisable, then ultimately expires, after his retirement from the Board.

Insider Trade Summary

Grant/Award: 163 shares

Grant/Award 1 txn

Insider Augsburger Blake

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	163	$61.9216	$10K

Holdings After Transaction: Phantom Stock — 19,502 contracts (Direct)

Footnotes (3)

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

Key Figures

Phantom stock grant: 163 units Grant reference price: $61.9216 per unit Total phantom units after grant: 19,502 units +1 more

4 metrics

Phantom stock grant 163 units Grant of phantom stock units on 2026-05-05

Grant reference price $61.9216 per unit Phantom stock grant valuation

Total phantom units after grant 19,502 units Director’s phantom stock holdings post-transaction

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

Key Terms

Phantom Stock, grant/award acquisition, underlying security, expiration

4 terms

Phantom Stock financial

"Each phantom stock unit exercises into 1 share of Common 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.

grant/award acquisition financial

"transaction_action: grant/award acquisition for 163 phantom stock units"

underlying security financial

"underlying_security_title: Common Stock for the phantom stock units"

expiration financial

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

FAQ

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

What insider transaction did LKFN director Blake Augsburger report?

Blake Augsburger reported receiving 163 phantom stock units linked to Lakeland Financial Corp Common Stock. The grant is recorded at $61.9216 per unit and increases his total phantom stock holdings to 19,502 units as a form of director compensation.

Is the Lakeland Financial (LKFN) Form 4 a stock purchase or sale?

The Form 4 shows a grant of 163 phantom stock units, not an open-market purchase or sale. It is a compensation-related award classified as a grant or other acquisition rather than a discretionary trade in LKFN shares.

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

After the 163-unit grant, Blake Augsburger holds 19,502 phantom stock units tied to Lakeland Financial Corp Common Stock. This figure reflects his total phantom stock position following the reported compensation transaction on the Form 4.

When can the LKFN phantom stock units reported be exercised?

The phantom stock units become exercisable after the director’s retirement from the Board. According to the disclosure, the phantom shares are both exercisable and set to expire following the director’s retirement as a Board member.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/06/2026 - 09:04 AM

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^*

Augsburger Blake

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	05/05/2026		A		163		⁽²⁾	⁽³⁾	Common Stock	163	$61.9216	19,502	D

Explanation of Responses:

1. Each phantom stock unit exercises 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)

Source: View Original Filing on SEC EDGAR