Lakeland Financial (NASDAQ: LKFN) director granted phantom stock units

Rhea-AI Filing Summary

Lakeland Financial Corporation director Brian J. Smith received a grant of phantom stock units. On 02/05/2026, he acquired 173 phantom stock units at $62.10 each, bringing his total derivative holdings to 20,911 phantom stock units.

Each phantom stock unit is linked one-for-one to a share of Lakeland Financial common stock. The phantom stock becomes exercisable after Smith retires from the board and will expire after his retirement as a director.

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^*

Smith Brian J

(Last) (First) (Middle)

LAKELAND FINANCIAL CORPORATION

P.O. BOX 1387

(Street)

WARSAW IN 46581-1387

(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		173		(2)	(3)	Common Stock	173	$62.1	20,911	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 on this Form 4?

Lakeland Financial reported that director Brian J. Smith received 173 phantom stock units on February 5, 2026. These units are derivative securities linked one-for-one to Lakeland Financial common stock under the company’s director compensation arrangements.

How many Lakeland Financial phantom stock units does Brian J. Smith now hold?

After the February 5, 2026 grant, Brian J. Smith beneficially owns 20,911 phantom stock units. This total reflects his holdings of derivative securities tied to Lakeland Financial common stock as reported in the Form 4 filing.

At what price were the Lakeland Financial phantom stock units granted on February 5, 2026?

The 173 phantom stock units were granted at a reference price of $62.10 per unit. Each unit represents the economic equivalent of one share of Lakeland Financial common stock according to the Form 4 disclosure.

When can Brian J. Smith exercise his Lakeland Financial phantom stock units?

The phantom stock units become exercisable after Brian J. Smith’s retirement as a member of Lakeland Financial’s board. This means the economic benefit is deferred until he leaves his director position, as specified in the Form 4 footnotes.

Do Lakeland Financial phantom stock units convert into common shares?

Each phantom stock unit is designed to exercise into one share of Lakeland Financial common stock. The Form 4 states that every phantom stock unit corresponds to a single common share upon exercise after the director’s retirement.