[Form 4] Lakeland Financial Corp Insider Trading Activity

Rhea-AI Filing Summary

Form 4 highlights: Lakeland Financial Corp. (LKFN) director Bradley J. Toothaker reported two insider acquisitions dated 07/07-08/2025.

• Common stock: 650 shares acquired on 07/08/2025 at an indicated price of $0 (likely a board equity grant). Toothaker’s direct ownership rose to 25,213 shares, a 2.6% increase.
• Derivative – Phantom stock: 383 units added on 07/07/2025 at a reference value of $65.2852 each, lifting his phantom balance to 18,122 units. Each unit converts 1-for-1 into common stock and becomes exercisable after the director retires from the Board.

No sales were disclosed, and the filing shows the director remains a board member with no 10% ownership. While the absolute share count is modest relative to the company’s float, continued insider accumulation can signal confidence and aligns director incentives with shareholders.

Positive

• Director increased direct share ownership by 2.6%, aligning incentives with shareholders.
• Additional 383 phantom stock units reinforce long-term commitment, convertible 1-for-1 into common stock upon board retirement.

Negative

• None.

Insights

Financial Analyst

TL;DR – Minor insider purchase, neutral market impact.

The filing records routine equity compensation rather than open-market buying. A 650-share increase and 383 phantom units add only a few thousand dollars of notional exposure versus Lakeland’s multi-million-share float. Such grants are typical for community-bank boards and do not materially alter ownership structure or capital allocation. Investors may view any insider accumulation as a mild positive, but the scale is insufficient to change the investment thesis or valuation outlook; hence the disclosure is broadly neutral.

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^*

Toothaker Bradley 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)
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	25,213	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		383		(2)	(3)	Common Stock	383	$65.2852	18,122	D

Explanation of Responses:

1. Each phantom stock unit exercises into 1 share of Common Stock.

2. Phantom stock is exercisableafter the directors' retirement as a Board member.

3. Phanton 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

How many LKFN common shares did Director Bradley J. Toothaker acquire?

He acquired 650 shares on 07/08/2025.

What is Toothaker’s total direct LKFN share ownership after the transaction?

His direct holdings total 25,213 shares following the grant.

Were any LKFN shares sold in this Form 4?

No sales were reported; only acquisitions were disclosed.

What derivative securities were acquired?

The director received 383 phantom stock units, each exchangeable for one common share after retirement.

When do the phantom stock units become exercisable?

They are exercisable after the director’s retirement from the Board.

What was the reference price for the phantom stock units?

The filing lists a price of $65.2852 per unit.