Form 4: Stock Yards Bancorp Executive Vice President William Dishman Reports Beneficial Ownership Changes
SEC Form 4
Executive Vice President William Dishman reports changes in beneficial ownership of Stock Yards Bancorp, Inc. securities, including stock appreciation rights.
Summary
- William Dishman, an Executive Vice President at Stock Yards Bancorp, Inc. (SYBT), filed a Form 4 to report changes in his beneficial ownership of the company's securities.
- The report details Dishman's direct and indirect ownership of common stock, including holdings through a 401k/ESOP and spousal ownership.
- The filing also covers Dishman's holdings of stock appreciation rights (SARs) with various exercise prices and expiration dates.
- A transaction on February 10, 2025, involved the acquisition of 1,921 SARs with an exercise price of $75.21, exercisable from February 10, 2026, and expiring on February 10, 2035.
- Following the reported transactions, Dishman directly owns 33,907 shares of common stock.
- He also indirectly owns 3,300 shares through his spouse and 7,780 shares through a 401k/ESOP.
- Dishman holds multiple SARs with varying quantities and expiration dates.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The filing provides transparency into the executive's holdings and recent transactions.
- The acquisition of additional SARs suggests continued alignment with the company's long-term performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's confidence in the company's prospects.
Comparison to Industry Standards
- Comparing the executive compensation structure, including the use of stock appreciation rights, to peer banks like WesBanco, Inc. or First Financial Bancorp. could provide context.
- Analyzing the ratio of equity-based compensation to total compensation against industry averages would be useful.
- Benchmarking the vesting schedules and expiration dates of the SARs against similar instruments at comparable financial institutions can offer insights into the long-term incentive alignment.
Stakeholder Impact
- Shareholders gain insight into executive compensation and alignment with company performance.
- Employees may be impacted by the overall compensation structure and incentives.
- The filing provides transparency to creditors and other stakeholders regarding executive holdings.
Key Dates
| Date | Description |
|---|---|
| 03/15/2017 | Date of Stock Appreciation Right grant with exercise price of $25.76, expiring 03/15/2026 |
| 02/20/2019 | Date of Stock Appreciation Right grant with exercise price of $35.9, expiring 02/20/2028 |
| 02/19/2020 | Date of Stock Appreciation Right grant with exercise price of $36.65, expiring 02/19/2029 |
| 02/25/2021 | Date of Stock Appreciation Right grant with exercise price of $37.3, expiring 02/25/2030 |
| 02/25/2022 | Date of Stock Appreciation Right grant with exercise price of $50.71, expiring 02/25/2031 |
| 02/14/2023 | Date of Stock Appreciation Right grant with exercise price of $54.91, expiring 02/14/2032 |
| 02/13/2024 | Date of Stock Appreciation Right grant with exercise price of $60.76, expiring 02/13/2033 |
| 02/10/2025 | Date of transaction and Stock Appreciation Right grant with exercise price of $75.21, exercisable 02/10/2026, expiring 02/10/2035 |
| 02/12/2025 | Date of signature for the Form 4 filing. |
Keywords
Stock Yards Bancorp, SYBT, Form 4, Beneficial Ownership, Stock Appreciation Rights, Executive Compensation, William Dishman
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