Form 4: Director Acquires SYBT Stock via RSU Grant

Stock Yards Bancorp Director David L. Hardy acquired 828 shares of common stock through a restricted stock unit grant.

Summary

• David L. Hardy, a Director of Stock Yards Bancorp, Inc. (SYBT), acquired 828 shares of common stock on January 2, 2026.
• This acquisition was a restricted stock unit (RSU) grant with a one-year vesting period.
• Following this transaction, Hardy beneficially owns 2,838 shares of common stock indirectly through a Trust Directors Deferred Comp Plan, which also includes 265 shares acquired through automatic dividend reinvestment.
• Hardy also holds 1,000 Stock Appreciation Rights (SARs) directly, exercisable from October 21, 2026, with an expiration date of October 21, 2035, and an exercise price of $67.85.

Sentiment

Score: 7

Explanation: The acquisition of common stock by a director, even through an RSU grant, generally indicates alignment of interests with shareholders and can be perceived as a positive signal of confidence in the company's future performance.

Positives

• A Director, David L. Hardy, acquired 828 shares of common stock, which can signal confidence in the company's future.
• The acquisition was an RSU grant, aligning director incentives with shareholder value through stock ownership and vesting requirements.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the vesting schedule of the restricted stock units and the exercisability of the Stock Appreciation Rights.

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends.

Related Party Transactions

• Grant of 828 restricted stock units (RSUs) to Director David L. Hardy on January 2, 2026, as part of compensation, with a one-year vesting period.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholder value due to stock ownership and vesting incentives.

Next Steps

• Vesting of the 828 restricted stock units after one year from the grant date (January 2, 2026).
• Potential exercise of Stock Appreciation Rights (SARs) starting October 21, 2026.

Key Dates

Recommendation

The acquisition of shares by a director through a restricted stock unit grant is a positive indicator of management's alignment with shareholder interests. However, as this is a compensation-related transaction rather than an open-market purchase, it typically reinforces a 'hold' position rather than prompting a 'buy' or 'sell' recommendation without further fundamental analysis.

Keywords

Stock Yards Bancorp, SYBT, Insider Trading, Form 4, Director Stock Acquisition, Restricted Stock Unit, RSU, Stock Appreciation Right, SAR, David L. Hardy