Form 4: Stock Yards Bancorp President Reports New SAR Grant
Insider Transaction Report
Stock Yards Bancorp President Philip Poindexter reported the acquisition of 5,095 Stock Appreciation Rights and updated his beneficial ownership.
Summary
- Philip Poindexter, President of Stock Yards Bancorp, Inc. (SYBT), filed a Form 4 statement of changes in beneficial ownership.
- The filing reports the acquisition of 5,095 Stock Appreciation Rights (SARs) on February 19, 2026, with an exercise price of $68.33.
- These newly acquired SARs become exercisable on February 19, 2027, and expire on February 19, 2036.
- Poindexter's direct beneficial ownership of common stock is 52,276 shares.
- Indirect beneficial ownership includes 15,259 shares of common stock held in a 401k/ESOP-FBO Philip Poindexter.
- The filing also details existing SARs with various exercise prices ranging from $35.90 to $75.21 and expiration dates through 2035.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this filing as moderately positive. While a routine compensation event, the grant of SARs indicates continued executive alignment with company performance and is a standard practice for incentivizing leadership.
Positives
- The grant of 5,095 Stock Appreciation Rights to President Philip Poindexter aligns his incentives with shareholder value creation, as SARs gain value when the company's stock price increases.
Future Outlook
The filing does not contain specific forward-looking statements or guidance beyond the vesting and expiration dates of the Stock Appreciation Rights.
Industry Context
StockSavvy.ai notes that the grant of Stock Appreciation Rights (SARs) is a common form of executive compensation in the banking and financial services industry, designed to align executive interests with long-term shareholder value. This particular filing reflects a routine compensation event for a senior officer at Stock Yards Bancorp, Inc., a regional bank.
Comparison to Industry Standards
- The use of Stock Appreciation Rights (SARs) as part of executive compensation is a standard practice across the financial services sector, comparable to compensation structures at regional banks like Old National Bancorp (ONB) or First Financial Bancorp (FFBC).
- The specific terms, such as exercise price and expiration dates, are typical for long-term incentive plans designed to retain executives and incentivize performance over several years.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Philip Poindexter granted a Limited Power of Attorney to Vycki Seigle and Nathan Berger to execute and file Forms 3, 4, 5, and 144 on his behalf. | 09/22/2025 | This streamlines the process for fulfilling SEC reporting obligations for the officer, ensuring timely and accurate filings. |
Stakeholder Impact
- Shareholders: The grant of Stock Appreciation Rights to a key executive aligns management's financial interests with shareholder returns, potentially fostering long-term value creation.
- Employees: The filing details an executive's compensation, which is part of the broader compensation structure within the company.
Key Dates
| Date | Description |
|---|---|
| 03/21/2018 | Date of grant for 4,968 Stock Appreciation Rights with an exercise price of $40.00, expiring 03/21/2027. |
| 02/20/2019 | Date of grant for 4,872 Stock Appreciation Rights with an exercise price of $35.90, expiring 02/20/2028. |
| 10/01/2019 | Date of grant for 17,500 Stock Appreciation Rights with an exercise price of $39.32, expiring 10/01/2028. |
| 02/19/2020 | Date of grant for 6,989 Stock Appreciation Rights with an exercise price of $36.65, expiring 02/19/2029. |
| 02/25/2021 | Date of grant for 8,193 Stock Appreciation Rights with an exercise price of $37.30, expiring 02/25/2030. |
| 02/25/2022 | Date of grant for 4,873 Stock Appreciation Rights with an exercise price of $50.71, expiring 02/25/2031. |
| 02/14/2023 | Date of grant for 5,314 Stock Appreciation Rights with an exercise price of $54.91, expiring 02/14/2032. |
| 02/13/2024 | Date of grant for 5,236 Stock Appreciation Rights with an exercise price of $60.76, expiring 02/13/2033. |
| 02/12/2025 | Date of grant for 6,263 Stock Appreciation Rights with an exercise price of $47.95, expiring 02/12/2034. |
| 09/22/2025 | Date Philip Poindexter executed a Limited Power of Attorney for Section 16 and Rule 144 reporting obligations. |
| 02/10/2026 | Date of grant for 4,263 Stock Appreciation Rights with an exercise price of $75.21, expiring 02/10/2035. |
| 02/19/2026 | Date of transaction for the acquisition of 5,095 Stock Appreciation Rights. |
| 02/19/2027 | Date the 5,095 Stock Appreciation Rights granted on 02/19/2026 become exercisable. |
| 02/19/2036 | Expiration date for the 5,095 Stock Appreciation Rights granted on 02/19/2026. |
| 02/23/2026 | Date the Form 4 was signed by Vycki Seigle, by Power of Attorney. |
Recommendation
holdThis Form 4 filing reports a routine executive compensation event (grant of Stock Appreciation Rights) and an update to beneficial ownership. It does not contain information significant enough to warrant a change in investment recommendation based solely on this filing. The grant of SARs is a standard incentive mechanism, suggesting continued alignment of executive interests with company performance, which is generally a neutral to slightly positive signal for a seasoned investor.
Keywords
Stock Yards Bancorp, SYBT, Philip Poindexter, Form 4, Insider Trading, Stock Appreciation Rights, SARs, Beneficial Ownership, Executive Compensation, Banking, Financial Services
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