Form 4: Stock Yards Bancorp Executive Vice President Michael Croce Reports Acquisition of Stock Appreciation Rights
SEC Form 4
Executive Vice President Michael Croce reports the acquisition of stock appreciation rights and updates to his beneficial ownership of Stock Yards Bancorp, Inc. shares.
Summary
- On February 10, 2025, Michael Croce, Executive Vice President of Stock Yards Bancorp, Inc., reported a transaction involving derivative securities.
- Croce acquired 1,842 stock appreciation rights (SARs) with an exercise price of $75.21, exercisable from February 10, 2026, and expiring on February 10, 2035.
- The SARs are based on Stock Yards Bancorp common stock.
- Following the transaction, Croce directly owns 25,991 shares of common stock and indirectly owns 8,584 shares through a 401k/ESOP.
- Croce also directly owns various other stock appreciation rights with different exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing executive compensation. It doesn't inherently convey positive or negative sentiment.
Positives
- The acquisition of SARs by an executive could be interpreted as a sign of confidence in the company's future performance.
Industry Context
Executive compensation practices, including the use of stock appreciation rights, are common in the banking industry to align management's interests with those of shareholders.
Comparison to Industry Standards
- Comparing the terms of these SARs (exercise price, vesting schedule, expiration date) to those granted to executives at peer banks (e.g., Fifth Third Bancorp, PNC Financial Services) would provide a benchmark for assessing their competitiveness and potential impact on executive motivation.
- Analyzing the percentage of equity-based compensation in Michael Croce's overall compensation package relative to industry averages can offer insights into Stock Yards Bancorp's compensation philosophy.
Stakeholder Impact
- Shareholders may be interested in executive compensation details as they relate to company performance and alignment of interests.
- Employees may view executive compensation as a benchmark for their own potential career growth and compensation opportunities.
Key Dates
| Date | Description |
|---|---|
| 03/15/2017 | Date of Stock Appreciation Right |
| 02/20/2019 | Date of Stock Appreciation Right |
| 02/19/2020 | Date of Stock Appreciation Right |
| 02/25/2021 | Date of Stock Appreciation Right |
| 02/25/2022 | Date of Stock Appreciation Right |
| 02/14/2023 | Date of Stock Appreciation Right |
| 02/13/2024 | Date of Stock Appreciation Right |
| 02/10/2025 | Date of Earliest Transaction and Date of Stock Appreciation Right |
| 02/12/2025 | Signature Date |
| 03/15/2026 | Expiration Date of Stock Appreciation Right |
| 03/21/2027 | Expiration Date of Stock Appreciation Right |
| 02/20/2028 | Expiration Date of Stock Appreciation Right |
| 02/19/2029 | Expiration Date of Stock Appreciation Right |
| 02/25/2030 | Expiration Date of Stock Appreciation Right |
| 02/25/2031 | Expiration Date of Stock Appreciation Right |
| 02/14/2032 | Expiration Date of Stock Appreciation Right |
| 02/13/2033 | Expiration Date of Stock Appreciation Right |
| 02/12/2034 | Expiration Date of Stock Appreciation Right |
| 02/10/2035 | Expiration Date of Stock Appreciation Right |
Keywords
Stock Yards Bancorp, Michael Croce, Stock Appreciation Rights, SAR, Beneficial Ownership, Form 4, Executive Compensation, Insider Trading
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