Lakeland Financial Director Faraz Abbasi Receives Phantom Stock Award

What Happened

• Faraz Abbasi, a director of Lakeland Financial Corp. (LKFN), was granted 24 phantom stock units on 2026-08-05. The award is reported as a derivative acquisition (transaction code A) at an allocated value of $63.25 per unit, totaling $1,518. This is a company compensation award, not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-08-05; 24 units @ $63.25 each (total $1,518).
• Transaction type: Award/Grant of derivative securities (phantom stock units), reported on Form 4.
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Reported on 2026-08-06 for an 08-05 transaction (filed within standard reporting window).
• Footnotes from the filing:
  • F1: Each phantom stock unit converts to one share of common stock.
  • F2: Phantom stock is exercisable after the director’s retirement from the board.
  • F3: Phantom shares have an expiration provision tied to the director’s retirement.

Context

• These phantom stock units are a form of deferred compensation. They are derivative awards that can convert into common shares per the footnotes, and the filing indicates exercise and expiration terms are tied to the director’s retirement. Because this is a compensation award rather than an open-market trade, it should be viewed as part of director pay rather than a direct signal of near-term buying or selling by management.