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

Rhea-AI Filing Summary

Lakeland Financial director Emily E. Pichon reported an award of 8 phantom stock units on February 5, 2026. The Form 4 shows a reference price of $62.10 per unit and indicates she now holds 942 phantom stock units directly.

Each phantom stock unit is linked to one share of Lakeland Financial common stock. According to the footnotes, these units become exercisable only after the director retires from the board, and they also expire after that retirement. This structure ties part of the director’s compensation to the company’s long-term share performance and board service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider PICHON EMILY E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	8	$62.10	$496.80

Holdings After Transaction: Phantom Stock — 942 shares (Direct)

Footnotes (1)

1. Each phantom stock unit exercises into 1 share of Common Stock. Phantom stock is exercisable after the directors' retirement as a Board member. Phantom shares expire after the directors' retirement as a Board member.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

PICHON EMILY E

(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		8		(2)	(3)	Common Stock	8	$62.1	942	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 LKFN director Emily Pichon report?

Emily E. Pichon reported receiving 8 phantom stock units. The Form 4 shows the award occurred on February 5, 2026, at a reference price of $62.10 per unit, increasing her direct holdings to 942 phantom stock units tied to Lakeland Financial common stock.

How many Lakeland Financial phantom stock units does Emily Pichon now hold?

Emily Pichon now holds 942 phantom stock units in Lakeland Financial. This total reflects the February 5, 2026 award of 8 additional units, as disclosed in the Form 4, and each unit is linked to one share of the company’s common stock upon exercise.

When do LKFN phantom stock units awarded to Emily Pichon become exercisable?

The phantom stock units become exercisable after Pichon retires from the board. The footnotes state that phantom stock is exercisable only following the director’s retirement as a board member and will expire after that retirement, emphasizing a long-term service and alignment structure.

What does each Lakeland Financial phantom stock unit represent for Emily Pichon?

Each phantom stock unit represents one share of LKFN common stock. The Form 4 footnotes clarify that every phantom unit exercises into a single common share, linking the value of this director compensation directly to Lakeland Financial’s future share price performance.

Is Emily Pichon’s Form 4 transaction in LKFN common stock or derivatives?

The reported transaction involves derivative securities, specifically phantom stock units. Table II of the filing lists “Phantom Stock” as the security, with 8 derivative units acquired and 942 derivative securities beneficially owned following the transaction, all held in direct ownership form.