Abbasi Faraz 4

What Happened
Faraz Abbasi, a director of Lakeland Financial Corp. (LKFN), received a grant of 447 phantom stock units on July 8, 2026. The filing records an implied price of $61.55 per unit, giving the award an approximate value of $27,512. This was a non-cash director award (transaction code A) of a derivative instrument, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-08; filing date: 2026-07-10 (filed within two days).
• Award: 447 phantom stock units @ $61.55 each; total implied value $27,512.
• Transaction type: A (award/grant); derivative security (phantom stock).
• Shares owned after transaction: not specified in the provided report.
• Footnotes from the filing:
  • F1: Each phantom stock unit converts into one common share.
  • 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.
• Timeliness: Filing appears timely (reported July 8, filed July 10).

Context
Phantom stock units are a form of deferred compensation for directors and are not immediate market purchases or sales. According to the filing notes, these units convert to common shares (one-for-one) but are exercisable only after the director leaves the board and will expire under the retirement provisions—meaning they are not immediately liquid or traded. Director awards are routine compensation and should not be interpreted as a direct personal buying/selling signal.