Lakeland Financial (LKFN) Proxy Filing summary

Executive summary

• Annual meeting scheduled for April 8, 2025, with four key proposals: election of 11 directors, advisory vote on executive compensation, approval of a new equity incentive plan, and ratification of the external auditor.

• Board recommends voting in favor of all proposals; all director nominees are incumbents.

• Shareholders can vote online, by phone, mail, or during the virtual meeting.

Voting matters and shareholder proposals

• Election of 11 directors for one-year terms; all are current board members.

• Advisory (non-binding) vote on executive compensation (say-on-pay) included; 96% approval in 2024.

• Proposal to approve the 2025 Equity Incentive Plan, replacing the 2017 plan.

• Ratification of Crowe LLP as independent registered public accounting firm for 2025.

Board of directors and corporate governance

• Board consists of 11 directors, 9 of whom are independent; 3 women and 2 underrepresented minorities.

• Board committees: Audit, Compensation, Nominating and Corporate Governance, and Corporate Risk.

• Lead Independent Director role established; regular executive sessions held.

• Directors are expected to attend meetings and the annual meeting; all did so in 2024.

• Board diversity and skills matrix disclosed; ongoing commitment to further diversification.