FINDLAY DAVID M 4

What Happened
David M. Findlay, CEO of Lakeland Financial Corp. (LKFN), reported multiple transactions. The most notable: an open‑market sale of 3,000 shares on 2026-02-04 at $63.02 per share for $189,057. He also had 4,000 shares surrendered on 2026-02-02 at $60.76 per share (value $243,040) to cover an exercise price or tax liability. Offsetting those dispositions, Findlay received awards/acquisitions (grants/vestings and 401(k) activity) totaling 11,923 shares (6,400 and 5,040 shares granted on 2026-02-03 and 2026-02-02 at $0.00, plus 483 shares acquired on 2025-12-31 at $61.96 valued $29,927).

Key Details

• Transactions and prices:
  • 2026-02-04: Open market sale — 3,000 shares @ $63.02 = $189,057 (S)
  • 2026-02-02: Payment of exercise price/tax withholding — 4,000 shares @ $60.76 = $243,040 (F)
  • 2026-02-03: Award/grant — 6,400 shares @ $0.00 = $0 (A)
  • 2026-02-02: Award/grant — 5,040 shares @ $0.00 = $0 (A)
  • 2025-12-31: 401(k) salary redirection/dividend reinvestment — 483 shares @ $61.96 = $29,927 (J; footnote F1)
• Net reported activity (this filing excerpt): ~11,923 shares acquired (mainly grants/401k) and 7,000 shares disposed (4,000 withheld + 3,000 sold). Aggregate value of disclosed cash sales/withholding ≈ $432,097.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Footnote: F1 indicates the 12/31/2025 acquisition reflects salary redirection and/or dividend reinvestment in a 401(k) plan.
• Timeliness: The Form 4 was filed 2026-02-04 and reports transactions from 2025-12-31 through 2026-02-04; the 12/31/2025 item was reported later than the typical two-business-day window for Form 4s and appears to be reported after year-end.

Context

• The 4,000-share disposition labeled F typically means shares were surrendered to cover an exercise price or tax withholding rather than a market sale — a routine administrative step when options vest or RSUs settle.
• The A entries (6,400 and 5,040 shares at $0.00) are awards/grants (e.g., RSUs or other equity compensation) and represent receipt of shares rather than a cash purchase.
• Routine items such as tax withholding and 401(k) contributions are common and do not necessarily signal a change in the insider’s view of the company.