Lakeland Financial (LKFN) director adds 158 phantom stock units

Rhea-AI Filing Summary

Lakeland Financial Corporation director Bradley J. Toothaker received an award of 158 phantom stock units on February 5, 2026 at $62.10 per unit. Each phantom unit is economically tied to one share of common stock.

After this grant, Toothaker beneficially owns 19,025 phantom stock units directly. The phantom stock becomes exercisable only after his retirement from the board and expires after he retires as a director.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Toothaker Bradley J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	158	$62.10	$10K

Holdings After Transaction: Phantom Stock — 19,025 shares (Direct)

Footnotes (1)

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

Form 4 Insider Transactions: What Each Field Means →

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^*

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)
02/05/2026

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)	02/05/2026		A		158		(2)	(3)	Common Stock	158	$62.1	19,025	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	02/05/2026
	** 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.

FAQ

What insider transaction did LKFN director Bradley J. Toothaker report?

Bradley J. Toothaker reported receiving 158 phantom stock units tied to Lakeland Financial common stock. The award was dated February 5, 2026, and was reported as a derivative security transaction on Form 4, increasing his total phantom stock holdings to 19,025 units held directly.

How do Lakeland Financial (LKFN) phantom stock units convert into shares?

Each Lakeland Financial phantom stock unit reported by Bradley J. Toothaker converts into one share of common stock. The filing states that every phantom stock unit exercises on a one-for-one basis into common stock, aligning the phantom units’ value directly with the company’s common equity.

When can Bradley J. Toothaker exercise his LKFN phantom stock units?

The phantom stock units granted to Bradley J. Toothaker are exercisable only after he retires as a board member. This means he cannot convert these 158 units, or his other phantom holdings, into common shares until his service as a director has ended.

What happens to LKFN phantom stock units after the director retires?

According to the filing, the phantom stock units expire after the director’s retirement from the board. Toothaker’s phantom units become exercisable at retirement, but they also carry an expiration condition tied to that same retirement, defining the time window during which they can be used.

How many LKFN phantom stock units does Bradley J. Toothaker now hold?

Following the February 5, 2026 grant, Bradley J. Toothaker beneficially owns 19,025 phantom stock units. This total includes the newly awarded 158 units and is reported as directly owned derivative securities linked to Lakeland Financial common stock on his Form 4 filing.