Smith Brian J 4

What Happened Brian J. Smith, a director of Lakeland Financial Corp (LKFN), was granted 173 phantom stock units on Feb 5, 2026. The filing lists a per-unit valuation of $62.10, for a total grant value of about $10,743. This was recorded as an award/acquisition of a derivative security (transaction code A), not an open‑market purchase of actual shares.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-06 (timely filing).
• Grant: 173 phantom stock units @ $62.10 per unit; total value ≈ $10,743.
• Security type: Derivative phantom stock units (each unit converts into 1 share of common stock, per footnote).
• Shares owned after transaction: Not specified in the filing.
• Footnotes from the filing:
  • F1: Each phantom stock unit converts into 1 share of common stock.
  • F2: Phantom stock is exercisable after the director’s retirement as a board member.
  • F3: Phantom shares expire after the director’s retirement as a board member.
• Transaction code: A (award/grant/acquisition of a derivative).

Context Phantom stock units are typically a form of deferred compensation or retention award and are not the same as immediately issued common shares; they represent the right to receive shares or cash tied to share value in the future. The filing does not indicate an immediate sale or cashless exercise; it documents a grant of derivative units that vest/exercise according to the plan provisions referenced in the footnotes.