[Form 4] Lakeland Financial Corp Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Lakeland Financial Corp. (LKFN) discloses that director Faraz Abbasi acquired 17 phantom stock units on 08/05/2025 at an assigned price of $61.5128 per unit under the company’s deferred compensation plan. Each phantom unit is economically equivalent to one share of LKFN common stock and converts into stock only after the director retires from the board.

Following the transaction, Abbasi beneficially owns 2,078 phantom stock units, all held in direct form. No open-market purchase or sale of common shares was reported, and Table I contains no entries. The filing carries no indications of 10b5-1 plan usage, amendments, or changes in non-derivative ownership.

The acquisition is small (<0.1% of LKFN’s ~25 M shares outstanding) and appears routine, suggesting minimal immediate market impact but signaling continued alignment of the director’s interests with shareholders through deferred equity exposure.

Insights

Securities Analyst

TL;DR: Minor deferred-compensation grant; neutral for valuation.

The 17-unit phantom stock addition raises Abbasi’s deferred stake to 2,078 units, worth roughly $128k at the reference price. The grant neither affects share count nor cash flow and represents normal board compensation. Because phantom shares settle only at retirement, dilution risk is remote and already reflected in equity-based comp accruals. No trading signal or governance concern emerges; thus, I rate the impact neutral.

Corporate Governance Expert

TL;DR: Routine equity alignment, no red flags.

Phantom stock keeps directors invested in long-term performance without immediate voting power, aligning incentives while mitigating insider-trading optics. The small size and absence of sales reinforce stability. Filing complies with Section 16 requirements; power of attorney signature is standard. Overall governance impact is benign.

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
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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 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)
08/05/2025

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

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)	08/05/2025		A		17		(2)	(3)	Common Stock	17	$61.5128	2,078	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	08/06/2025
	** 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

What did LKFN director Faraz Abbasi report on the latest Form 4?

He acquired 17 phantom stock units on 08/05/2025 at $61.5128 each.

How many phantom stock units does Abbasi now hold in total?

After the transaction he beneficially owns 2,078 phantom stock units.

Do phantom stock units immediately dilute LKFN shareholders?

No. Phantom units convert to common shares only after the director retires, so there is no current dilution.

Were any common shares of LKFN bought or sold?

Table I shows no transactions in non-derivative common stock.

Is this filing likely to affect LKFN's stock price?

Given the small size and routine nature of the grant, material market impact is unlikely.