Form 4: SYBT CEO Hillebrand Boosts Stake with Net Share Acquisition
Insider Transaction Report
Stock Yards Bancorp CEO James A. Hillebrand increased his direct beneficial ownership by a net 2,052 common shares through recent transactions.
Summary
- James A. Hillebrand, Chairman & CEO of Stock Yards Bancorp, Inc. (SYBT), reported transactions on March 23, 2026.
- Acquired 3,637 shares of common stock at a price of $64.46 per share.
- Disposed of 1,585 shares of common stock at the same price of $64.46 per share, likely for tax withholding purposes (Transaction Code F).
- The net effect of these transactions is an increase of 2,052 shares in his direct beneficial ownership.
- Following these transactions, Hillebrand directly owns 109,344 shares of common stock.
- He also holds indirect beneficial ownership of 516 shares in a Trust-Directors' Deferred Comp Plan and 26,177 shares in a KSOP-fbo James Hillebrand.
- The filing also lists various Stock Appreciation Rights (SARs) held, with exercise prices ranging from $35.90 to $75.21 and expiration dates up to February 19, 2036.
Sentiment
Score: 7
Explanation: StockSavvy.ai views this as a moderately positive signal. While a portion of shares was sold for tax purposes, the net increase in the CEO's direct ownership indicates continued confidence in Stock Yards Bancorp's performance.
Positives
- The Chairman & CEO, James A. Hillebrand, increased his net direct beneficial ownership by 2,052 shares, signaling confidence in the company's future.
- The acquisition of 3,637 shares at $64.46 demonstrates an investment at the current market price.
Negatives
- The disposition of 1,585 shares, while likely for tax purposes, reduces the overall increase in direct ownership.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that insider buying, particularly by a Chairman & CEO, can be interpreted by the market as a positive signal, suggesting management's belief in the company's intrinsic value and future prospects. This transaction occurs within the regional banking sector, where insider confidence can be particularly impactful given ongoing economic uncertainties and regulatory landscapes.
Stakeholder Impact
- Shareholders may view the net increase in CEO ownership as a positive indicator of management's alignment with shareholder interests and belief in the company's future value.
Key Dates
| Date | Description |
|---|---|
| 03/21/2018 | Grant date for Stock Appreciation Right with exercise price $40.00, expiring 03/21/2027. |
| 02/20/2019 | Grant date for Stock Appreciation Right with exercise price $35.90, expiring 02/20/2028. |
| 10/01/2019 | Grant date for Stock Appreciation Right with exercise price $39.32, expiring 10/01/2028. |
| 02/19/2020 | Grant date for Stock Appreciation Right with exercise price $36.65, expiring 02/19/2029. |
| 02/25/2021 | Grant date for Stock Appreciation Right with exercise price $37.30, expiring 02/25/2030. |
| 02/25/2022 | Grant date for Stock Appreciation Right with exercise price $50.71, expiring 02/25/2031. |
| 02/14/2023 | Grant date for Stock Appreciation Right with exercise price $54.91, expiring 02/14/2032. |
| 02/13/2024 | Grant date for Stock Appreciation Right with exercise price $60.76, expiring 02/13/2033. |
| 02/12/2025 | Grant date for Stock Appreciation Right with exercise price $47.95, expiring 02/12/2034. |
| 02/10/2026 | Grant date for Stock Appreciation Right with exercise price $75.21, expiring 02/10/2035. |
| 03/23/2026 | Date of common stock acquisition and disposition transactions. |
| 03/24/2026 | Date the Form 4 was signed. |
| 02/19/2027 | Grant date for Stock Appreciation Right with exercise price $68.33, expiring 02/19/2036. |
Recommendation
holdThe net insider buying by the CEO is a positive signal, indicating management's confidence. However, this single transaction, which includes a 'sell to cover' component, is not substantial enough on its own to warrant a 'buy' recommendation without further fundamental analysis of the company's financial performance and market conditions. It reinforces a 'hold' position for existing investors and suggests continued monitoring for potential new investors.
Keywords
Stock Yards Bancorp, SYBT, Insider Trading, Form 4, James A. Hillebrand, CEO, Director, Share Acquisition, Stock Appreciation Rights, Beneficial Ownership
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