Lakeland Financial (LKFN) director Faraz Abbasi receives 447 phantom stock units

Rhea-AI Filing Summary

LAKELAND FINANCIAL CORP director Faraz Abbasi received a grant of 447 phantom stock units on July 8, 2026. Each phantom stock unit corresponds to 1 share of common stock and has a conversion price of $0.00. Following this award, Abbasi holds 2,188 phantom stock units directly. The phantom stock becomes exercisable and expires after the director’s retirement from the Board.

Insights

Equity compensation analyst

Routine director equity grant via deferred phantom stock units.

Director Faraz Abbasi received a grant of 447 phantom stock units tied to LAKELAND FINANCIAL CORP common stock at a stated conversion price of $0.0000. This is classified as a grant/award acquisition, not an open-market purchase.

The units convert one-for-one into common shares and are exercisable only after retirement from the Board, aligning director compensation with long-term shareholder value. After this grant, Abbasi holds 2,188 phantom stock units directly, indicating ongoing exposure to the company’s equity through deferred compensation.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Abbasi Faraz

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	447	$61.549	$28K

Holdings After Transaction: Phantom Stock — 2,188 shares (Direct, null)

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.

Key Figures

Phantom stock units granted: 447 Transaction price per phantom unit: $61.5490 Total phantom units after grant: 2,188 +2 more

5 metrics

Phantom stock units granted 447 Grant of phantom stock units on July 8, 2026

Transaction price per phantom unit $61.5490 Price per unit reported for the phantom stock grant

Total phantom units after grant 2,188 Director’s phantom stock balance following the reported award

Conversion or exercise price $0.0000 Stated conversion price for the phantom stock into common shares

Underlying common shares per unit 1 Each phantom stock unit exercises into 1 share of common stock

Key Terms

Phantom Stock, grant/award acquisition, underlying security, conversion or exercise price

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 the phantom stock units."

underlying security financial

"underlying_security_title listed as Common Stock for the phantom units."

conversion or exercise price financial

"conversion_or_exercise_price reported as 0.0000 for the phantom stock."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/10/2026 - 10:30 AM Accepted by SEC EDGAR 07/10/2026 - 10:29 AM Learn about SEC filing dates

FAQ

What transaction did Faraz Abbasi report on Form 4 for LKFN?

Faraz Abbasi reported a grant of 447 phantom stock units linked to Lakeland Financial Corp common stock on July 8, 2026, classified as a grant/award acquisition rather than an open-market trade.

How many LKFN phantom stock units does Faraz Abbasi hold after this grant?

After the reported grant, Faraz Abbasi holds a total of 2,188 phantom stock units directly. This reflects the prior balance plus the 447-unit award received on July 8, 2026.

What does the phantom stock grant for LKFN convert into and at what price?

Each phantom stock unit converts into 1 share of Lakeland Financial Corp common stock at a conversion price of $0.0000 per share, according to the filing’s transaction and footnote disclosures.

When can Faraz Abbasi exercise the LKFN phantom stock units?

The phantom stock units are exercisable after the director’s retirement from the Board. The filing also notes that the phantom shares expire after the director’s retirement as a Board member.

Was the LKFN phantom stock transaction a market buy or sell by Faraz Abbasi?

No. The transaction is coded as A for a grant, award, or other acquisition of phantom stock units and is not an open-market buy or sell of Lakeland Financial Corp common shares.

What is the relationship between LKFN phantom stock units and common stock?

Each Lakeland Financial Corp phantom stock unit is tied one-for-one to 1 share of common stock, providing equity-linked value while remaining a deferred compensation instrument until retirement.

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^*

Abbasi Faraz

(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)
07/08/2026

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)
			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)	07/08/2026		A		447		(2)	(3)	Common Stock	447	$61.549	2,188	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	07/09/2026
	** 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)