Lakeland Financial (LKFN) director converts phantom stock into common shares
Rhea-AI Filing Summary
Toothaker Bradley J reported disposition transactions in this Form 4 filing.
Lakeland Financial director Bradley Toothaker exercised 162 phantom stock units on August 5, 2026 at $63.25 per unit, receiving the same number of common shares under the company’s phantom stock plan.
After this exercise, he holds 19,510 phantom stock units tied to Lakeland Financial common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
162 shares exercised/converted
Exercise
1 txn
Insider
Toothaker Bradley J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock F1, F2, F3 | 162 | $63.25 | $10K |
Holdings After Transaction:
Phantom Stock — 19,510 shares (Direct)
Footnotes (3)
- F1. Each phantom stock unit exercises into 1 share of Common Stock.
- F2. Phantom stock is exercisable after the directors' retirement as a Board member.
- F3. Phantom shares expire after the directors' retirement as a Board member.
Key Figures
Phantom stock units exercised: 162 units
Exercise price: $63.25 per unit
Underlying common shares received: 162 shares
+1 more
4 metrics
Phantom stock units exercised
162 units
Derivative exercise on August 5, 2026
Exercise price
$63.25 per unit
Price per phantom stock unit converted into common stock
Underlying common shares received
162 shares
Each phantom stock unit equaled one share of common stock
Phantom stock units remaining
19,510 units
Phantom stock holdings after the reported transaction
Key Terms
Phantom stock, derivative security, Common Stock
3 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.
derivative security financial
"Transaction is an exercise or conversion of derivative security."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Common Stock financial
"Each phantom stock unit exercises into 1 share of Common Stock."
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction involved Lakeland Financial (LKFN)?
Director Bradley J. Toothaker exercised 162 phantom stock units into the same number of common shares on August 5, 2026 at $63.25 per unit. The transaction involves derivative securities that track Lakeland Financial common stock and is coded as an exercise or conversion.
How many phantom stock units does Bradley Toothaker hold after the LKFN transaction?
Following this derivative exercise, Bradley Toothaker holds 19,510 phantom stock units linked to Lakeland Financial common stock. These remaining units continue to represent a right to receive shares upon his retirement from the board under the phantom stock plan terms.
What is phantom stock in the context of Lakeland Financial (LKFN)?
Phantom stock is a derivative award where each unit corresponds to one share of Lakeland Financial common stock. It becomes exercisable and expires after the director’s retirement from the board, with units converting into common shares at that time under the plan.
At what price were the Lakeland Financial (LKFN) phantom units exercised?
The 162 phantom stock units were exercised at a reference price of $63.25 per unit on August 5, 2026. This price reflects the value assigned per unit when converting them into Lakeland Financial common shares in the derivative exercise.
Was the LKFN insider transaction made under a Rule 10b5-1 trading plan?
The Rule 10b5-1 checkbox for this insider transaction is not marked, so it is not identified as being executed under a pre-arranged trading plan. The available footnotes do not describe any separate trading arrangement governing the timing of this exercise.
What position does Bradley Toothaker hold at Lakeland Financial (LKFN)?
Bradley J. Toothaker is identified as a director of Lakeland Financial, and not as an officer or 10% shareholder. The phantom stock transaction therefore relates to his board-level equity compensation rather than activity by a controlling insider.