[Form 4] Lakeland Financial Corp Insider Trading Activity

Rhea-AI Filing Summary

Lakeland Financial Corp (LKFN) – Insider Form 4 filing dated 7 July 2025

Director Darrianne P. Christian reported two transactions:

• Common stock award: 650 shares acquired on 8 July 2025 under transaction code A (grant/award). No cash price was paid (listed at $0). Post-transaction direct holdings rise to 10,100 shares.
• Phantom stock award: 344 units granted on 7 July 2025 at a reference value of $65.2852 per unit. The units settle 1-for-1 into common shares after the director retires; total phantom units now stand at 4,910.

No dispositions were reported. The filing reflects routine director compensation rather than open-market buying; nevertheless, the increase in both common and deferred equity slightly aligns the director’s interests with shareholders. No other material events, option exercises, or sales were disclosed in this filing.

Positive

• Director increases direct ownership by 650 shares, raising total to 10,100 and modestly aligning interests with shareholders.
• Additional 344 phantom units strengthen long-term incentive structure tied to retirement.

Negative

• No cash outlay for the common stock grant means the purchase is not a market buy, limiting confidence-signaling value.
• Immaterial size versus LKFN’s outstanding shares implies negligible valuation impact.

Insights

Securities Analyst

TL;DR: Small, routine equity grants; mildly positive alignment, immaterial to valuation.

The 650-share common stock award and 344 phantom units add roughly 1% to the director’s existing stake and represent de minimis dilution for LKFN’s ~25 million share base. Because the shares were granted at no cost (common) and deferred until retirement (phantom), they do not signal an out-of-pocket insider purchase but do reinforce long-term alignment. From a market-impact perspective, the transaction is not impactful; volumes are too small to influence float or earnings. Investors may view continued equity-based compensation as consistent with standard governance practices and neutral-to-slightly-positive sentiment.

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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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^*

Christian Darrianne P

(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)
07/07/2025

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
Common Stock	07/08/2025		A		650	A	$0	10,100	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)	07/07/2025		A		344		(2)	(3)	Common Stock	344	$65.2852	4,910	D

Explanation of Responses:

1. Each phantom stock unit exersises 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	07/09/2025
	** 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

Who filed the Form 4 for LKFN?

Director Darrianne P. Christian submitted the filing.

How many LKFN common shares were acquired?

A total of 650 shares were awarded on 08-Jul-2025.

What is the director’s total direct shareholding after the transaction?

Post-transaction, the director holds 10,100 LKFN shares directly.

What are the terms of the phantom stock units?

Each unit converts into one common share and is exercisable after the director’s retirement.

Did the filing report any share sales?

No, no dispositions were disclosed in this Form 4.