Lakeland Financial (LKFN) director receives 365 phantom stock units as equity award

Rhea-AI Filing Summary

Starr Daniel Brian reported acquisition or exercise transactions in this Form 4 filing.

LAKELAND FINANCIAL CORP director Daniel Brian Starr received a grant of 365 phantom stock units tied to the company’s common stock. Each phantom stock unit represents one share of common stock and is exercisable after his retirement from the board, at which time it will be settled. Following this grant, he holds 771 phantom stock units directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Starr Daniel Brian

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	365	$61.549	$22K

Holdings After Transaction: Phantom Stock — 771 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: 365.0000 units Reference price per phantom unit: $61.5490 Total phantom units after grant: 771.0000 units +1 more

4 metrics

Phantom stock units granted 365.0000 units Grant of phantom stock units to director on 2026-07-08

Reference price per phantom unit $61.5490 Value per phantom stock unit at grant

Total phantom units after grant 771.0000 units Director’s phantom stock holdings following the reported transaction

Conversion ratio 1 unit = 1 share Each phantom stock unit exercises into 1 share of common stock

Key Terms

Phantom Stock, phantom stock unit, exercisable

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.

phantom stock unit financial

"Each phantom stock unit exercises into 1 share of common stock."

exercisable financial

"Phantom stock is exercisable after the directors' retirement as a Board member."

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Available on EDGAR 07/10/2026 - 10:28 AM Accepted by SEC EDGAR 07/10/2026 - 10:28 AM Learn about SEC filing dates

FAQ

What insider transaction did LKFN director Daniel Brian Starr report?

Director Daniel Brian Starr reported a grant of 365 phantom stock units. These units are a form of deferred equity compensation linked to LAKELAND FINANCIAL CORP’s common stock.

How many LKFN phantom stock units does Daniel Brian Starr hold after this grant?

After the grant, Daniel Brian Starr holds 771 phantom stock units. This total includes the newly granted 365 units plus his previously held phantom stock position.

At what value were the LKFN phantom stock units granted to Daniel Brian Starr?

The 365 phantom stock units were valued at $61.549 per unit. This figure reflects the reference price per underlying share of LAKELAND FINANCIAL CORP common stock for the award.

When can Daniel Brian Starr’s LKFN phantom stock units be exercised?

The phantom stock units are exercisable after his retirement as a board member. Settlement into common stock occurs following retirement rather than during his active board service.

What does each LKFN phantom stock unit awarded to Daniel Brian Starr represent?

Each phantom stock unit exercises into one share of common stock. This 1-for-1 relationship means 365 phantom units correspond to 365 potential shares upon retirement and settlement.

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)
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		365		(2)	(3)	Common Stock	365	$61.549	771	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)