Lakeland Financial (LKFN) director receives 21 phantom stock units

Rhea-AI Filing Summary

Lakeland Financial Corporation director Faraz Abbasi reported an award of 21 phantom stock units on February 5, 2026. Each phantom stock unit is linked to one share of Lakeland Financial common stock.

After this grant, Abbasi holds 1,720 phantom stock units, owned directly. The phantom stock becomes exercisable only after the director retires from the board, and all phantom shares expire after that retirement, making this a long-term, service-linked incentive rather than immediately tradable stock.

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^*

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)
02/05/2026

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

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)	02/05/2026		A		21		(2)	(3)	Common Stock	21	$62.1	1,720	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	02/05/2026
	** 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.

FAQ

What insider transaction did Lakeland Financial (LKFN) report for Faraz Abbasi?

Lakeland Financial reported that director Faraz Abbasi received 21 phantom stock units on February 5, 2026. These units are a form of deferred equity compensation tied to the company’s common stock, rather than an immediate purchase or sale of regular shares.

How many Lakeland Financial phantom stock units does Faraz Abbasi now hold?

After the February 5, 2026 award, director Faraz Abbasi holds 1,720 phantom stock units. Each unit is linked to one share of Lakeland Financial common stock, representing a growing deferred equity position aligned with his ongoing board service.

When can Faraz Abbasi exercise his Lakeland Financial phantom stock units?

Abbasi’s phantom stock units become exercisable only after he retires as a Lakeland Financial board member. This timing ties value realization to the completion of his board service, reinforcing long-term alignment rather than short-term trading opportunities.

What does each Lakeland Financial phantom stock unit represent for Faraz Abbasi?

Each phantom stock unit reported for Faraz Abbasi represents the right to receive one share of Lakeland Financial common stock. The units track the value of the stock but are deferred until after his retirement from the board, according to the filing footnotes.

Was the Lakeland Financial Form 4 a stock sale or a grant to Faraz Abbasi?

The Form 4 reflects a grant, not a sale, for director Faraz Abbasi. He acquired 21 phantom stock units coded as transaction type “A”, indicating an award or acquisition, increasing his total phantom stock holdings reported in the filing.