Form 4: Stock Yards Bancorp Executive Exercises Stock Appreciation Rights and Sells Shares for Tax Obligations
Insider Transaction Report
Thomas C. Stinnett, Executive Vice President of Stock Yards Bancorp, Inc., reported the exercise of Stock Appreciation Rights and the subsequent sale of shares to cover tax liabilities.
Summary
- Thomas C. Stinnett, Executive Vice President of Stock Yards Bancorp, Inc. (SYBT), reported transactions on June 24, 2025.
- Mr. Stinnett acquired 6,871 shares of Common Stock through the exercise of Stock Appreciation Rights (SARs) at an exercise price of $25.76 per share.
- Concurrently, he disposed of 4,374 shares of Common Stock at a price of $77.35 per share, likely to cover tax withholding obligations related to the SAR exercise.
- Following these transactions, Mr. Stinnett directly beneficially owns 63,939 shares of Common Stock.
- Additionally, he indirectly owns 488 shares through his spouse and 13,496 shares via a KSOP (fbo Thomas Stinnett).
- The reported direct ownership of 68,313 shares before the disposition included shares acquired through automatic dividend reinvestment.
- Mr. Stinnett holds various other outstanding Stock Appreciation Rights with exercise prices ranging from $35.90 to $75.21 and expiration dates extending to February 10, 2035.
Sentiment
Score: 5
Explanation: The document is a routine insider transaction report (Form 4) detailing the exercise of stock appreciation rights and a subsequent sale of shares for tax purposes. This type of transaction is common and generally does not indicate a strong positive or negative sentiment about the company's future prospects.
Positives
- The exercise of Stock Appreciation Rights indicates that the underlying stock price has appreciated significantly above the exercise price, allowing the executive to realize value.
- The executive continues to hold a substantial number of shares (63,939 directly, plus indirect holdings), demonstrating continued alignment with shareholder interests.
Negatives
- A portion of the acquired shares (4,374 shares) was immediately sold, reducing the executive's direct beneficial ownership, although this is a common practice for tax purposes following option/SAR exercises.
Future Outlook
This Form 4 filing reports past transactions and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This is a routine insider transaction report (Form 4) for an executive at a financial institution. Such filings are common and provide transparency into executive compensation and stock ownership, which is standard practice across the banking and financial services industry.
Stakeholder Impact
- Shareholders: Provides transparency into executive stock ownership and compensation practices. The executive's continued significant holding aligns interests with shareholders.
- Employees: No direct impact mentioned, but executive compensation structures can influence overall company culture and morale.
- Customers/Suppliers/Creditors: No direct impact from this specific transaction report.
Key Dates
| Date | Description |
|---|---|
| 03/15/2017 | Grant date for Stock Appreciation Right with exercise price $25.76, exercised on 06/24/2025. |
| 03/21/2018 | Grant date for Stock Appreciation Right with exercise price $40.00. |
| 02/20/2019 | Grant date for Stock Appreciation Right with exercise price $35.90. |
| 02/19/2020 | Grant date for Stock Appreciation Right with exercise price $36.65. |
| 05/01/2020 | Grant date for Stock Appreciation Right with exercise price $38.18. |
| 02/25/2021 | Grant date for Stock Appreciation Right with exercise price $37.30. |
| 02/25/2022 | Grant date for Stock Appreciation Right with exercise price $50.71. |
| 02/14/2023 | Grant date for Stock Appreciation Right with exercise price $54.91. |
| 02/13/2024 | Grant date for Stock Appreciation Right with exercise price $60.76. |
| 02/12/2025 | Grant date for Stock Appreciation Right with exercise price $47.95. |
| 06/24/2025 | Date of reported transactions (exercise of SARs and sale of common stock). |
| 06/25/2025 | Date the Form 4 was signed by Power of Attorney. |
| 02/10/2026 | Grant date for Stock Appreciation Right with exercise price $75.21. |
| 03/15/2026 | Expiration date for Stock Appreciation Right with exercise price $25.76. |
| 03/21/2027 | Expiration date for Stock Appreciation Right with exercise price $40.00. |
| 02/20/2028 | Expiration date for Stock Appreciation Right with exercise price $35.90. |
| 02/19/2029 | Expiration date for Stock Appreciation Right with exercise price $36.65. |
| 05/01/2029 | Expiration date for Stock Appreciation Right with exercise price $38.18. |
| 02/25/2030 | Expiration date for Stock Appreciation Right with exercise price $37.30. |
| 02/25/2031 | Expiration date for Stock Appreciation Right with exercise price $50.71. |
| 02/14/2032 | Expiration date for Stock Appreciation Right with exercise price $54.91. |
| 02/13/2033 | Expiration date for Stock Appreciation Right with exercise price $60.76. |
| 02/12/2034 | Expiration date for Stock Appreciation Right with exercise price $47.95. |
| 02/10/2035 | Expiration date for Stock Appreciation Right with exercise price $75.21. |
Keywords
Stock Yards Bancorp, SYBT, Insider Transaction, Form 4, Stock Appreciation Rights, SARs, Executive Compensation, Beneficial Ownership, Equity Compensation, Financial Services
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