[Form 4] Lakeland Financial Corp Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Lakeland Financial Corp. (LKFN): Director Bradley J. Toothaker reported the acquisition of 147 phantom stock units on 08/05/2025 at an implied price of $61.5128 each. Phantom units convert 1-for-1 into common shares and are exercisable only after the director retires from the Board, at which point they must also be exercised or will expire.

Following the transaction, Toothaker now beneficially owns 18,269 phantom stock units. No non-derivative common shares or dispositions were disclosed. The filing was signed by Attorney-in-Fact Becka J. Turnbow on 08/06/2025.

The purchase is modest in size and appears to be part of the company’s deferred fee/compensation program rather than an open-market buy, suggesting routine alignment of director compensation with shareholder value rather than a signal of material strategic change.

Insights

Securities Analyst

TL;DR: Routine deferred-comp phantom stock grant; immaterial size, neutral fundamental impact.

The 147-unit addition raises the director’s derivative stake by less than 1% and reflects scheduled Board compensation, not discretionary buying. While insider accumulation is directionally positive, the dollar value (~$9k) is negligible relative to LKFN’s market cap and trading volume. No immediate valuation or liquidity implications arise. I view the filing as informational, with neutral investment impact.

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
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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^*

Toothaker Bradley J

(Last) (First) (Middle)

LAKELAND FINANCIAL CORPORATION

P.O. BOX 1387

(Street)

WARSAW IN 46581-1387

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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

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

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

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)	08/05/2025		A		147		(2)	(3)	Common Stock	147	$61.5128	18,269	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. Phanton shares expire after the directors' retirement as a Board member.

Remarks:

	/s/ Becka J. Turnbow, Attorney-in-Fact	08/06/2025
	** 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.

FAQ

What did LKFN disclose in the latest Form 4 filing?

Director Bradley J. Toothaker acquired 147 phantom stock units at $61.5128 on 08/05/2025, lifting his total to 18,269 units.

How many LKFN shares does the director now beneficially own?

After the reported transaction, the director holds 18,269 phantom stock units; no common shares were listed.

What are LKFN phantom stock units?

Each unit converts into 1 share of LKFN common stock but is exercisable only after the director retires from the Board.

Was this an open-market purchase?

No. The filing indicates a deferred compensation award, classified under transaction code “A” for acquisition.

Does the transaction materially affect LKFN’s share count?

No. The 147 units are immaterial compared with LKFN’s total shares outstanding.