Form 4: Director Boosts Stake in Stock Yards Bancorp

Stock Yards Bancorp Director David L. Hardy purchased 2,000 shares of common stock and was granted 1,000 Stock Appreciation Rights.

Summary

• David L. Hardy, a Director of Stock Yards Bancorp, Inc. (SYBT), acquired 2,000 shares of common stock directly.
• The common stock purchase occurred on November 6, 2025, at a price of $66.53 per share.
• Following this transaction, Mr. Hardy directly beneficially owns 2,000 shares of common stock.
• Mr. Hardy also indirectly beneficially owns 83 shares of common stock through a Trust Directors Deferred Comp Plan.
• Additionally, Mr. Hardy was granted 1,000 Stock Appreciation Rights (SARs) on October 21, 2025.
• These SARs have an exercise price of $67.85, become exercisable on October 21, 2026, and expire on October 21, 2035.
• Each SAR represents the right to receive the appreciation in value of one share of common stock.

Sentiment

Score: 7

Explanation: The direct purchase of common stock by a director is generally viewed as a positive signal, indicating management's confidence in the company's valuation and future prospects. The grant of SARs further aligns management incentives with shareholder returns.

Positives

• A director's direct purchase of 2,000 shares of common stock signals confidence in the company's future prospects.
• The grant of 1,000 Stock Appreciation Rights (SARs) aligns the director's financial interests with long-term shareholder value creation, as SARs only gain value if the stock price increases.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance regarding the company's future performance or strategic direction, focusing solely on insider transactions.

Industry Context

This Form 4 filing details an insider transaction, which is a routine disclosure for publicly traded companies. While not directly indicative of broader industry trends, insider buying can sometimes reflect management's perception of the company's value relative to its peers or the overall market within the financial services sector.

Related Party Transactions

• Director David L. Hardy's acquisition of common stock and Stock Appreciation Rights from Stock Yards Bancorp, Inc. constitutes a related party transaction as defined by SEC regulations for insider reporting.

Stakeholder Impact

• Shareholders may interpret the director's stock purchase as a positive indicator of management's belief in the company's value, potentially boosting investor confidence.
• The grant of SARs aligns the director's incentives with shareholder interests, as the value of SARs is tied to stock price appreciation.

Key Dates

Keywords

SYBT, Stock Yards Bancorp, insider transaction, director purchase, stock appreciation rights, Form 4, equity acquisition