Form 4: Stock Yards Bancorp Executive Vice President Michael Rehm Reports Transactions
SEC Form 4
Michael Rehm, Executive Vice President of Stock Yards Bancorp, reports acquisition and disposal of common stock on March 25, 2024.
Summary
- Michael Rehm, an Executive Vice President at Stock Yards Bancorp, reported changes in beneficial ownership of the company's stock.
- On March 25, 2024, Rehm acquired 4,908 shares of common stock at a price of $44.89 per share.
- On the same day, Rehm disposed of 2,251 shares of common stock at a price of $44.89 per share.
- Following these transactions, Rehm directly owns 16,927 shares of Stock Yards Bancorp common stock.
- Rehm also indirectly owns 2,325 shares through a 401K/ESOP.
- Rehm holds multiple Stock Appreciation Rights (SARs) with various exercise prices and expiration dates, representing the right to acquire additional shares of common stock.
- These SARs have exercise prices ranging from $36.65 to $60.76 and expire between 2028 and 2034.
- The SARs represent the right to acquire a total of 25,433 shares of common stock.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency to investors regarding insider activity.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies, particularly in the financial sector.
- Comparing Rehm's transactions to those of executives at similar regional banks like First Financial Bancorp or WesBanco could provide context on the scale and frequency of insider trading activity.
- The use of Stock Appreciation Rights (SARs) is a fairly standard form of executive compensation in the banking industry, designed to align executive incentives with shareholder value.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly altering the ownership structure of the company.
- The use of SARs as compensation aligns executive interests with shareholder value, potentially incentivizing management to improve company performance.
Key Dates
| Date | Description |
|---|---|
| 10/01/2019 | Date exercisable for Stock Appreciation Right with expiration date 10/01/2028 |
| 02/19/2020 | Date exercisable for Stock Appreciation Right with expiration date 02/19/2029 |
| 02/25/2021 | Date exercisable for Stock Appreciation Right with expiration date 02/25/2030 |
| 02/25/2022 | Date exercisable for Stock Appreciation Right with expiration date 02/25/2031 |
| 02/14/2023 | Date exercisable for Stock Appreciation Right with expiration date 02/14/2032 |
| 02/13/2024 | Date exercisable for Stock Appreciation Right with expiration date 02/13/2033 |
| 02/12/2025 | Date exercisable for Stock Appreciation Right with expiration date 02/12/2034 |
| 03/25/2024 | Date of common stock transaction: acquisition of 4,908 shares and disposal of 2,251 shares |
| 03/27/2024 | Date of signature by Power of Attorney |
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