Lakeland Financial (LKFN) director gets stock and phantom units

Rhea-AI Filing Summary

Lakeland Financial director M. Scott Welch reported new equity awards. On January 13, 2026, he acquired 650 shares of common stock at a price of $0, leaving him with 1,907 common shares held directly. On January 12, 2026, he was also granted 309 phantom stock units at $56.6943 each, increasing his directly held phantom stock balance to 60,313 units. Each phantom unit is linked to one share of common stock and becomes exercisable after his retirement from the board, at which point the phantom shares also expire.

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

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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^*

WELCH M SCOTT

(Last) (First) (Middle)

6 LONGWOOD COURT

(Street)

ELKHART IN 46516

(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)
01/12/2026

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
Common Stock	01/13/2026		A		650	A	$0	1,907	D

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)	01/12/2026		A		309		(2)	(3)	Common Stock	309	$56.6943	60,313	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	01/12/2026
	** 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 activity did Lakeland Financial (LKFN) report in this Form 4?

The filing shows director M. Scott Welch acquired 650 shares of common stock at $0 on January 13, 2026 and received 309 phantom stock units on January 12, 2026.

How many Lakeland Financial (LKFN) common shares does the director own after the transactions?

After the reported transaction, M. Scott Welch beneficially owns 1,907 shares of common stock, held in direct ownership.

What phantom stock grant was reported for Lakeland Financial (LKFN) director M. Scott Welch?

He was granted 309 phantom stock units at a price of $56.6943 per unit on January 12, 2026, bringing his directly held phantom stock balance to 60,313 units.

How does Lakeland Financial (LKFN) phantom stock work for this director?

Each phantom stock unit corresponds to one share of common stock. The phantom stock is exercisable after the director’s retirement from the board and the phantom shares then expire.

Are the Lakeland Financial (LKFN) director’s holdings reported as direct or indirect?

Both the 1,907 common shares and the 60,313 phantom stock units are reported as held in direct ownership by M. Scott Welch.

What transaction code is used in this Lakeland Financial (LKFN) Form 4?

The transactions are coded “A”, indicating acquisitions of both common stock and phantom stock units by the reporting director.