Lakeland Financial director awarded phantom stock units

WELCH M SCOTT reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

WELCH M SCOTT reported acquisition or exercise transactions in this Form 4 filing.

LAKELAND FINANCIAL CORP director M. Scott Welch received a grant of 366 phantom stock units tied to the company’s common stock. Each unit represents one share of common stock and is exercisable after his retirement from the board. Following this award, he holds 61,694 phantom stock units directly.

Insights

Equity Compensation Analyst

Routine director phantom stock award with long-term, retirement-based payout.

Director M. Scott Welch received 366 phantom stock units, each tied 1:1 to Lakeland Financial common stock at a reference value of $61.549 per unit. This is classified as a grant or award acquisition rather than an open-market purchase.

The phantom stock becomes exercisable only after the director’s retirement from the board, and the units expire after retirement as well. After this grant, Welch holds 61,694 phantom stock units, reinforcing long-term alignment with shareholders while deferring any payout until a future retirement date.

Insider Trade Summary

Grant/Award: 366 shares

Grant/Award 1 txn

Insider WELCH M SCOTT

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2, F3	366	$61.549	$23K

Holdings After Transaction: Phantom Stock — 61,694 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 units granted: 366.0000 units Reference price per phantom unit: $61.5490 per unit Total phantom stock units after grant: 61,694.0000 units +1 more

4 metrics

Phantom stock units granted 366.0000 units Grant of phantom stock units on 2026-07-08

Reference price per phantom unit $61.5490 per unit Transaction price per phantom stock unit in the award

Total phantom stock units after grant 61,694.0000 units Director’s phantom stock holdings following the reported transaction

Underlying common shares 366.0000 shares Each phantom stock unit corresponds to one share of common stock

Key Terms

Phantom Stock, phantom stock unit, exercisable after the directors' retirement, expires after the directors' retirement

4 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 after the directors' retirement financial

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

expires after the directors' retirement financial

"Phantom shares expire after the directors' retirement as a Board member."

FAQ

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

What did LKFN director M. Scott Welch report in this Form 4?

Director M. Scott Welch reported receiving a grant of 366 phantom stock units tied to Lakeland Financial common stock, bringing his total phantom stock holdings to 61,694 units held directly.

Is the LKFN Form 4 transaction a buy or sell of common stock?

The Form 4 reports an acquisition via grant of phantom stock units, not an open-market buy or sell of common stock. It is classified as a grant or award acquisition.

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

After receiving 366 phantom stock units, director M. Scott Welch holds a total of 61,694 phantom stock units directly, each representing one share of Lakeland Financial common stock upon exercise after retirement.

When can the LKFN phantom stock units reported be exercised?

The phantom stock units are exercisable after the director’s retirement as a board member. According to the disclosure, the phantom shares also expire after the director’s retirement from the board.

What does each LKFN phantom stock unit represent for this director grant?

Each phantom stock unit granted to the director exercises into one share of common stock. The Form 4 notes that these phantom shares are tied 1:1 to Lakeland Financial’s common stock upon exercise after retirement.

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

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Accepted by SEC EDGAR 07/10/2026 - 10:31 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^*

WELCH M SCOTT

(Last) (First) (Middle)

6 LONGWOOD COURT

(Street)

ELKHART INDIANA 46516

(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		366		(2)	(3)	Common Stock	366	$61.549	61,694	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)