Abbasi Faraz 4

What Happened
Faraz Abbasi, a director of Lakeland Financial Corp (LKFN), was granted 21 phantom stock units on 2026-02-05. The award is reported at $62.10 per unit for a total value of $1,304. This transaction is coded as an award/grant (derivative) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-06 (timely filing).
• Transaction type/code: A — Award/Grant (derivative phantom stock units).
• Units granted: 21 phantom stock units @ $62.10 each = $1,304 total.
• Shares owned after transaction: not specified in the provided filing excerpt.
• 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.
• Implication: This award is compensation for board service (deferred/derivative), not an immediate cash purchase or sale.

Context
Phantom stock units are a form of deferred compensation that typically convert to actual shares (or cash equivalent) under specified conditions—here, the filing indicates conversion/exercise provisions tied to retirement. Such grants are routine for directors and do not necessarily signal the director buying or selling stock based on current market views. For full terms (vesting, payout timing, and expiration specifics), review the complete Form 4 and related company disclosures.