Lakeland Financial (LKFN) director awarded 45 phantom stock units

Rhea-AI Filing Summary

Lakeland Financial Corporation director Christian Darrianne P reported an award of 45 phantom stock units on February 5, 2026. Each phantom unit represents one share of Lakeland Financial common stock and was valued at $62.10 per unit for this grant.

After this transaction, the director beneficially owns 5,435 phantom stock units on a direct basis. The phantom stock becomes exercisable after the director’s retirement from the board and expires once that board service ends, tying the award to long-term board tenure.

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^*

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)
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		45		(2)	(3)	Common Stock	45	$62.1	5,435	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) disclose in this Form 4?

Lakeland Financial disclosed that director Christian Darrianne P received 45 phantom stock units on February 5, 2026. Each unit represents one share of common stock, increasing the director’s total phantom units to 5,435 held on a direct basis.

How many Lakeland Financial (LKFN) phantom stock units does the director hold after the grant?

After the reported grant, director Christian Darrianne P beneficially owns 5,435 phantom stock units. These units are directly held and each phantom stock unit is linked to one share of Lakeland Financial common stock, aligning the director’s interests with shareholders.

When do the Lakeland Financial (LKFN) phantom stock units become exercisable?

The phantom stock units become exercisable after the director’s retirement from the Lakeland Financial board. This means the director cannot settle these units into common shares until board service ends, reinforcing a long-term incentive tied to continued board membership.

What does each Lakeland Financial (LKFN) phantom stock unit represent?

Each Lakeland Financial phantom stock unit represents one share of common stock. According to the filing, phantom stock is structured so that, upon exercise after retirement from the board, it settles into an equivalent number of Lakeland Financial common shares for the director.

At what reference price were the Lakeland Financial (LKFN) phantom stock units granted?

The 45 phantom stock units were reported with a reference price of $62.10 per unit. This price reflects the value used in the Form 4 disclosure and helps quantify the size of the award relative to Lakeland Financial’s common stock.

Do Lakeland Financial (LKFN) phantom stock units expire, and if so when?

Yes. The phantom stock units expire after the director’s retirement as a board member. The filing explains that phantom shares both become exercisable and ultimately expire in connection with the end of the director’s board service at Lakeland Financial.