Form 4: Lakeland Financial Corp Director Abbasi Faraz Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Abbasi Faraz reported acquiring phantom stock units convertible to common stock in Lakeland Financial Corp.
Summary
- On May 6, 2024, Abbasi Faraz, a director of Lakeland Financial Corp (LKFN), reported acquiring 9 units of phantom stock.
- Each phantom stock unit is exercisable into one share of common stock after the director's retirement as a board member.
- The price of the phantom stock is $61.8737.
- Following the transaction, Abbasi Faraz directly owns 1,176 derivative securities.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a transaction by a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities. This allows investors to track insider sentiment and potential future actions.
Key Dates
| Date | Description |
|---|---|
| 05/06/2024 | Date of transaction: Abbasi Faraz acquired 9 units of phantom stock. |
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