WELCH M SCOTT 4

What Happened Welch M. Scott, a director of Lakeland Financial Corp. (LKFN), was granted 510 phantom stock units on 2026-05-05. The grant is reported as a derivative acquisition at an attributed price of $61.92 per unit, for a total value of $31,580. This was an award (not an open-market purchase or sale) and represents deferred/share-linked compensation rather than immediate tradable shares.

Key Details

• Transaction date: 2026-05-05; Filing date: 2026-05-06 (timely Form 4 filing).
• Grant details: 510 phantom stock units @ $61.92 each = $31,580 (derivative award, code A).
• Shares owned after transaction: Not specified in the provided filing details.
• Relevant footnotes:
  • Each phantom stock unit converts into 1 share of common stock (F1).
  • Phantom stock units are exercisable after the director’s retirement as a board member (F2).
  • Phantom stock units expire after the director’s retirement (F3).

Context This is a deferred equity-style award (phantom stock) typically used for director compensation. Phantom units mirror share value but are not immediately tradable stock; they become exercisable and convertible around the director’s retirement per the filing language. Such awards are routine compensation and do not by themselves indicate a buy or sell signal in the open market.