Lakeland Financial (LKFN) director awarded 3 phantom stock units

Rhea-AI Filing Summary

Lakeland Financial Corporation director Daniel Brian Starr reported acquiring 3 phantom stock units on February 5, 2026 at $62.10 per unit. This brought his total phantom stock holdings to 402 units, each representing the right to receive one share of common stock.

The phantom stock becomes exercisable after the director’s retirement from the board and expires at that time, meaning these units are designed as long-term, retirement-linked equity compensation rather than immediately tradable shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Starr Daniel Brian

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	3	$62.10	$186.30

Holdings After Transaction: Phantom Stock — 402 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^*

Starr Daniel Brian

(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)
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		3		(2)	(3)	Common Stock	3	$62.1	402	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 Daniel Brian Starr report?

Director Daniel Brian Starr reported acquiring 3 phantom stock units of Lakeland Financial on February 5, 2026. The transaction was coded as an acquisition and increased his phantom stock holdings to 402 units, each linked to one share of common stock upon exercise.

What is the size and price of the LKFN phantom stock award?

The reported award consists of 3 phantom stock units at a price of $62.10 per unit. These units are derivative securities that track Lakeland Financial’s common stock and are settled in shares when exercised, rather than being traditional stock purchased in the market.

How many LKFN phantom stock units does the director hold after this Form 4?

After this transaction, Daniel Brian Starr beneficially owns 402 phantom stock units. Each unit is structured to convert into one share of Lakeland Financial common stock, giving a clear one-to-one linkage between phantom units and underlying shares at settlement.

When can the LKFN phantom stock units be exercised?

The phantom stock units are exercisable only after the director retires from the board. This retirement-based exercisability links the award to long-term board service, encouraging continued alignment with shareholders over the director’s tenure at Lakeland Financial Corporation.

When do the LKFN phantom stock units reported on this Form 4 expire?

The phantom shares expire upon the director’s retirement from the board. This means the right to receive common stock through these units is tied specifically to the retirement event, rather than having a fixed calendar expiration date like many standard stock options.

Does this LKFN Form 4 involve direct or indirect ownership of phantom stock?

The Form 4 shows the 402 phantom stock units as held with direct ownership. There is no separate entity or indirect nature of ownership disclosed, so the holdings are reported under Daniel Brian Starr’s name as the beneficial owner of these derivative units.