LKFN director granted 4 phantom stock units

LAKELAND FINANCIAL CORP director Daniel Brian Starr received a grant of 4 phantom stock units tied to the company’s Common Stock.

Rhea-AI Filing Summary

LAKELAND FINANCIAL CORP director Daniel Brian Starr received a grant of 4 phantom stock units tied to the company’s Common Stock. The award is recorded at a reference price of $61.9216 per unit and increases his phantom stock holdings to 406 units.

Each phantom stock unit converts into 1 share of Common Stock and is exercisable only after his retirement from the Board. The phantom shares also expire after his retirement, highlighting that this is a compensation-related, non–open-market acquisition rather than a purchase on the stock exchange.

Insider Trade Summary

Grant/Award: 4 shares

Grant/Award 1 txn

Insider Starr Daniel Brian

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	4	$61.9216	$247.69

Holdings After Transaction: Phantom Stock — 406 contracts (Direct)

Footnotes (3)

1. F1. Each phantom stock unit exercises into 1 share of Common Stock.
2. F2. Phantom stock is exercisable after the directors' retirement as a Board member.
3. F3. Phantom shares expire after the directors' retirement as a Board member.

Key Figures

Phantom stock grant: 4.0000 units Reference price per unit: $61.9216 per unit Total phantom units after grant: 406.0000 units

3 metrics

Phantom stock grant 4.0000 units Grant of phantom stock units to director on 2026-05-05

Reference price per unit $61.9216 per unit Reported transaction price for phantom stock grant

Total phantom units after grant 406.0000 units Director’s phantom stock balance following the transaction

Key Terms

Phantom Stock, grant/award acquisition, underlying security

3 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 is classified as grant/award acquisition for this Form 4 entry."

underlying security financial

"The underlying security title for the phantom stock units is Common Stock."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LAKELAND FINANCIAL CORP (LKFN) disclose on this Form 4?

LAKELAND FINANCIAL CORP reported that director Daniel Brian Starr received a grant of 4 phantom stock units. These units are a form of equity-linked compensation that track the value of Common Stock and settle after his retirement from the Board.

How many phantom stock units does LKFN director Daniel Brian Starr now hold?

After this grant, Daniel Brian Starr holds 406 phantom stock units. Each phantom stock unit is tied to one share of Common Stock and becomes exercisable after his retirement as a Board member, aligning his compensation with long-term shareholder outcomes.

What is the price reference for the LKFN phantom stock granted to Daniel Brian Starr?

The 4 phantom stock units were granted at a reference price of $61.9216 per unit. This price is used for reporting the value of the award and reflects the underlying Common Stock value associated with each phantom stock unit.

Does the LKFN Form 4 show an open-market stock purchase by Daniel Brian Starr?

No, the Form 4 shows a compensation-related grant coded as a grant, award, or other acquisition. The 4 phantom stock units are derivative awards, not open-market purchases of Common Stock on a stock exchange by Daniel Brian Starr.

When can LKFN phantom stock units held by Daniel Brian Starr be exercised?

The phantom stock units are exercisable only after Daniel Brian Starr’s retirement as a Board member. According to the filing, they also expire after his retirement, meaning exercise and settlement are tied directly to his Board service ending.

How do LKFN phantom stock units relate to Common Stock for Daniel Brian Starr?

Each LKFN phantom stock unit held by Daniel Brian Starr exercises into one share of Common Stock. This 1-to-1 relationship aligns the value of the phantom stock with the company’s Common Stock price over the duration of his Board service.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/06/2026 - 09:00 AM Learn about SEC filing dates

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 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)
05/05/2026

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)	05/05/2026		A		4		(2)	(3)	Common Stock	4	$61.9216	406	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	05/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)