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Lakeland Financial Executive Compensation (FY25)

LKFN · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
David Findlay
Latest say-on-pay support
=
April 14, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 20, 2026Latest filing (8-K): April 15, 2026
12 filings cited on this page
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280 figures on this page: 272 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
Total compensation for David Findlay, Chairman and Chief Executive Officer, came to $2,473,892 in fiscal 2025, and Findlay's total was 20.8% higher than the $2,048,666 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 45:1, against median employee compensation of $54,933. Shareholders supported the say-on-pay proposal with 75.2% of votes cast for or against in favor at the meeting held April 14, 2026 for fiscal 2025. The disclosed peer group includes 1st Source Corporation, City Holding Company, CNB Financial Corporation, Community Trust Bancorp and First Busey Corporation, among others.

More on Lakeland Financial

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — David Findlay: $2,048,666 → $2,473,892 (20.8% higher)
Say-on-pay support: 95.0% → 75.2% (19.8 points lower)
CEO pay ratio: 36:1 → 45:1 (25.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Lakeland Financial's chief executive and what were they paid?
Total compensation for David Findlay, Chairman and Chief Executive Officer, came to $2,473,892 in fiscal 2025. Findlay's total was 20.8% higher than the $2,048,666 reported for fiscal 2024.
What was Lakeland Financial's say-on-pay result?
Shareholders supported the say-on-pay proposal with 75.2% of votes cast for or against in favor at the meeting held April 14, 2026 for fiscal 2025.
Which companies are in Lakeland Financial's peer group?
The disclosed peer group includes 1st Source Corporation, City Holding Company, CNB Financial Corporation, Community Trust Bancorp and First Busey Corporation, among others.
What is Lakeland Financial's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 45:1, against median employee compensation of $54,933.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Findlay
President and Chief Executive Officer
◇—◇—◇—◇◇
Eric Ottinger
Executive Vice President, Chief Commercial Banking Officer
◇—◇—◇—◇◇
Kristin Pruitt
Executive Vice President, Chief Administrative Officer
◇—◇—◇—◇◇
Lisa O'Neill
Executive Vice President, Chief Financial Officer
◇—◇—◇—◇◇
Michael Gavin
Executive Vice President, Chief Credit Officer
◇—◇—◇◇◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Findlay
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Kristin Pruitt
President
◇—◇—◇—◇◇
Eric Ottinger
Executive Vice President, Chief Commercial Banking Officer
◇—◇—◇—◇◇
Lisa O'Neill
Executive Vice President, Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Findlay
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Kristin Pruitt
President
◇—◇—◇—◇◇
Eric Ottinger
Executive Vice President, Chief Commercial Banking Officer
◇—◇—◇—◇◇
Lisa O'Neill
Executive Vice President, Chief Financial Officer
◇—◇—◇—◇◇
J. Rickard Donovan
Senior Vice President, General Counsel
◇◇◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Findlay
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Kristin Pruitt
President
◇—◇—◇—◇◇
Eric Ottinger
Executive Vice President, Chief Commercial Banking Officer
◇—◇—◇—◇◇
Lisa O'Neill
Executive Vice President, Chief Financial Officer
◇—◇—◇—◇◇
Stephanie Leniski
Executive Vice President, Chief Retail Banking Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
David M. FindlayRSU◇——◇——◇
David M. FindlayPSU◇—◇—◇—◇
Eric H. OttingerPSU◇—◇—◇—◇
Eric H. OttingerRSU◇——◇——◇
Kristin L. PruittRSU◇——◇——◇
Kristin L. PruittPSU◇—◇—◇—◇
Lisa M. O'NeillPSU◇—◇—◇—◇
Lisa M. O'NeillRSU◇——◇——◇
Stephanie R. LeniskiPSU◇—◇—◇—◇
Stephanie R. LeniskiRSU◇——◇——◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Kristin PruittRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Eric OttingerPSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
David FindlayRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Lisa O'NeillPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Stephanie LeniskiPSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
David Findlay
Chairman and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇
Eric Ottinger
Executive Vice President, Chief Commercial Banking Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-compete period◇
Kristin Pruitt
President · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇
Lisa O'Neill
Executive Vice President, Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Blake W. Augsburger
Lead independent director
◇◇————◇
Bradley J. Toothaker
◇◇————◇
Darrianne P. Christian
◇◇————◇
A. Faraz Abbasi
◇◇————◇
Emily E. Pichon
◇◇————◇
M. Scott Welch
◇◇————◇
Steven D. Ross
◇◇————◇
Brian J. Smith
◇◇————◇
Robert E. Bartels Jr
◇◇————◇
Melinda J. Creighton Truex
◇◇————◇
Daniel B. Starr
◇◇————◇
David M. Findlay and Kristin L. Pruitt served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 1st Source Corporation SRCE
  • City Holding Company CHCO
  • CNB Financial Corporation CCNE
  • Community Trust Bancorp CTBI
  • First Busey Corporation BUSE
  • First Commonwealth Financial Corp. FCF
  • First Financial Corporation THFF
  • First Merchants Corporation FRME
  • German American GABC
  • Horizon Bancorp HBNC
  • Independent Bank Corporation IBCP
  • Mercantile Bank Corporation MBWM
  • Midland States Bancorp MSBI
  • MidWestOne Financial MOFG
  • Old Second Bancorp, Inc. OSBC
  • Park National Corporation PRK
  • Peoples Bancorp PEBO
  • QCR Holdings, Inc. QCRH
  • Republic Bancorp RBCAA
  • Stock Yards Bancorp SYBT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 14, 2026=◇◇◇
2024April 8, 2025=◇◇◇
2023April 9, 2024=◇◇◇
2022April 11, 2023=◇◇◇
2021April 12, 2022=◇◇◇
2020April 13, 2021=◇◇◇
2019April 14, 2020=◇◇◇
2018April 9, 2019=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- David Findlay (Chairman and Chief Executive Officer), FY2025 total compensation $2,473,892 (base salary $739,654) [exec_comp, SEC accession 0000721994-26-000036, filed 2026-03-05]

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What this page does not include

Everything above is a fact Lakeland Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Lakeland Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
280 figures on this page: 272 cited to the filing that reported them, 8 calculated from figures it prints.
272 cited to the filing
8 calculated from the filing

Documents cited

  1. 0000721994-26-000044
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000721994-26-000036
    2025 Outstanding Equity Awards at Fiscal Year-End · 2025 Summary Compensation Table · CEO Pay Ratio · Director Compensation · and 1 more section
  3. 0000721994-25-000117
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000721994-25-000096
    2024 Summary Compensation Table · Compensation Discussion and Analysis
  5. 0000721994-24-000024
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000721994-24-000016
    2023 Summary Compensation Table
  7. 0000721994-23-000027
  8. 0000721994-23-000018
    Summary Compensation Table
  9. 0000721994-22-000033
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001104659-21-050077
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001104659-20-047246
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000721994-19-000025
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Lakeland Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/LKFN (accessed 2026).
Short form: data: Velarion

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Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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12 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Lakeland Financial discloses

The companies named in LKFN's own disclosed peer group.

1st Source CorporationCity Holding CompanyCNB Financial CorporationCommunity Trust BancorpFirst Busey CorporationFirst Commonwealth Financial Corp.First Financial CorporationFirst Merchants CorporationGerman AmericanHorizon BancorpIndependent Bank CorporationMercantile Bank CorporationMidland States BancorpMidWestOne FinancialOld Second Bancorp, Inc.Park National CorporationPeoples BancorpQCR Holdings, Inc.Republic BancorpStock Yards Bancorp

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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