Lakeland Financial Insider Brian J. Smith Boosts Holdings in July 2025

Rhea-AI Filing Summary

Lakeland Financial Corp (LKFN) Form 4 filing: Director Brian J. Smith reported two transactions dated 07/07-08/2025.

• Common stock: 650 shares acquired at $0 cost, likely a board equity grant, lifting his direct ownership to 41,435 shares.
• Phantom stock: 268 units credited at a reference price of $65.2852. Total derivative (phantom) holdings rise to 20,091 units, which convert 1-for-1 into common shares after the director’s retirement.

No shares were sold and there is no indication of a 10b5-1 trading plan. The filing reflects routine director compensation and modestly increases alignment between the director and shareholders. The magnitude of the purchase is small relative to LKFN’s outstanding float and therefore is unlikely to be materially market-moving.

Insights

Securities Analyst

TL;DR: Director received 650 shares and 268 phantom units; routine, minor, signals continuity not strategy shift.

The acquisition of 650 common shares at zero cost is part of the board’s standard equity compensation and adds roughly US$45-50k of exposure, assuming LKFN trades near the phantom reference price of ~US$65. Combined with 268 new phantom units, Smith now controls over 61k share-equivalents, reinforcing incentive alignment but not changing insider ownership materially. There were no dispositions, option exercises, or large-scale insider buying that might foreshadow operational developments. Consequently, the event is neutral for valuation and sentiment.

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^*

Smith Brian 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)
07/07/2025

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
Common Stock	07/08/2025		A		650	A	$0	41,435	D

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)	07/07/2025		A		268		(2)	(3)	Common Stock	268	$65.2852	20,091	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	07/09/2025
	** 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

How many LKFN shares did Director Brian J. Smith acquire?

He acquired 650 common shares at $0 cost on 07/08/2025.

What is the director’s total direct LKFN share ownership after the transaction?

Smith now directly owns 41,435 common shares.

How many LKFN phantom stock units were added?

The filing shows 268 phantom stock units credited on 07/07/2025.

When can the phantom stock units be exercised?

Each unit converts to one common share after the director retires from the board.

Did the director sell any LKFN shares in this Form 4?

No. The Form 4 reports only acquisitions; there were no sales.