Lakeland Financial (NASDAQ: LKFN) director details stock and phantom unit changes

Rhea-AI Filing Summary

Lakeland Financial Corporation director Melinda Jo Truex reported several equity transactions involving company stock and phantom stock awards. On January 13, 2026, she acquired 650 shares of common stock at a price of $0, bringing her directly held common stock to 36,135 shares. On January 14, 2026, 2,138 phantom stock units were exercised into 2,138 shares of common stock, held indirectly through her spouse, at an exercise price of $0, resulting in 33,754 common shares held indirectly by her spouse after the transaction.

The filing also shows 2,138 phantom stock units converted as part of a larger phantom stock position. After this exercise, 10,118 phantom stock units remain held indirectly through her spouse. Each phantom stock unit converts into one share of common stock, and the phantom stock is scheduled to be delivered in six remaining annual installments, providing a structured, time-based delivery of additional equity-linked value.

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^*

Truex Melinda Jo

(Last) (First) (Middle)

LAKELAND FINANCIAL CORPORATION

P.O. BOX 1387

(Street)

WARSAW IN 46581

(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)
01/13/2026

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
Common Stock	01/13/2026		A		650	A	$0	36,135	D
Common Stock	01/14/2026		M		2,138	A	$0	33,754	I	By Spouse

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)	01/14/2026		M			2,138	(2)	(2)	Common Stock	2,138	$0	10,118	I	By Spouse

Explanation of Responses:

1. Each Phantom Stock unit exercises into 1 share of Common Stock.

2. The Phantom Stock will be delivered in 6 remaining annual installments.

Remarks:

	/s/ Becka J. Turnbow, Attorney-in-Fact	01/13/2026
	** 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 transactions did LKFN director Melinda Jo Truex report?

The director reported acquiring 650 shares of Lakeland Financial common stock on January 13, 2026 at $0, and the exercise of 2,138 phantom stock units into 2,138 common shares on January 14, 2026, with those shares held indirectly through her spouse.

How many Lakeland Financial (LKFN) shares does the director hold after these transactions?

After the reported transactions, Melinda Jo Truex holds 36,135 shares of Lakeland Financial common stock directly, and 33,754 shares indirectly through her spouse as of the reported dates.

What is the nature of the phantom stock reported for LKFN?

The filing shows phantom stock units that each convert into one share of Lakeland Financial common stock. On January 14, 2026, 2,138 phantom stock units were exercised, and 10,118 phantom stock units remain held indirectly through the director's spouse.

At what price were the LKFN stock and phantom stock transactions executed?

The 650 common shares acquired on January 13, 2026 and the 2,138 phantom stock units exercised into common stock on January 14, 2026 were each reported at a transaction price of $0 per share.

How will the remaining LKFN phantom stock be delivered?

According to the filing, the remaining phantom stock will be delivered in six remaining annual installments, with each phantom stock unit delivering one share of common stock upon settlement.

Are any of the LKFN shares held indirectly for the reporting person?

Yes. The filing shows 33,754 common shares and 10,118 phantom stock units held indirectly by the director through her spouse, as indicated in the ownership descriptions.