Well, for those that may be looking at this thread I have found the answer to my question:

Code:
LstVwPlanBackup.FocusedItem.Index
That refers the index of the selected item in the ListView.

It has brought up a second problem, however. The following code renders an unusable string value as "ListViewSubItem: {Check3}", when all I want is the item value of "Check3".

Code:
LstVwPlanBackup.FocusedItem.SubItems(1).ToString()
Does anyone know how I can get the individual value of the subitem?