Form 4: Director Hardy Acquires SYBT Shares & SARs

Stock Yards Bancorp Director David L. Hardy reported the acquisition of 83 common shares and 1,000 Stock Appreciation Rights.

Summary

• David L. Hardy, a Director of Stock Yards Bancorp, Inc. (SYBT), reported changes in his beneficial ownership.
• Hardy acquired 83 shares of Common Stock on October 24, 2025, at a price of $67.91 per share.
• These 83 common shares are held indirectly through a Trust Directors Deferred Comp Plan.
• Hardy also acquired 1,000 Stock Appreciation Rights (SARs) on October 21, 2025, with an exercise price of $67.85.
• The acquired SARs become exercisable on October 21, 2026, and have an expiration date of October 21, 2035.
• Following these transactions, Hardy beneficially owns 83 shares of Common Stock indirectly and 1,000 Stock Appreciation Rights directly.

Sentiment

Score: 7

Explanation: The acquisition of common stock and Stock Appreciation Rights by a director is generally a positive signal, indicating confidence in the company's future. While the share count is modest, the SARs further align management incentives with shareholder returns. This is a routine but positive insider transaction.

Positives

• Increased insider ownership, even if through a deferred compensation plan, can signal management's confidence in the company's future prospects.
• The acquisition of Stock Appreciation Rights aligns the director's interests with shareholder value creation, as SARs gain value when the stock price increases above the exercise price.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This insider transaction is specific to Stock Yards Bancorp and does not directly reflect broader industry trends. However, insider buying in the financial sector can sometimes be viewed as a positive signal for the specific institution.

Stakeholder Impact

• Shareholders: The increase in director ownership, particularly through SARs, aligns management's financial interests with those of shareholders, potentially fostering greater confidence in the company's long-term performance.

Key Dates

Keywords

Stock Yards Bancorp, SYBT, Insider Trading, Form 4, Director Acquisition, Common Stock, Stock Appreciation Rights, Deferred Compensation