Stock Yards Bancorp (SYBT) EVP exercises 3,606 SARs, holds 68,563 shares after tax withholding

Rhea-AI Filing Summary

Stock Yards Bancorp Executive Vice President Thomas C. Stinnett reported compensation-related equity activity in company stock. On June 12, 2026, he exercised 3,606 Stock Appreciation Rights, receiving the same number of shares of common stock at an exercise price of $40.00 per share. To cover tax obligations, 2,646 shares of common stock were withheld at a price of $75.58 per share, which is a non-market, tax-withholding disposition rather than an open-market sale. Following these transactions, Stinnett directly holds 68,563 shares of Stock Yards Bancorp common stock, plus indirect holdings of 13,928 shares through a KSOP account and 497 shares held by his spouse. He also retains a sizable portfolio of outstanding Stock Appreciation Rights tied to additional shares of common stock, with exercise prices ranging from the mid‑$20s to mid‑$70s and expirations extending out to 2036, indicating continuing long-term equity exposure.

Insights

Equity compensation analyst

Routine equity compensation exercise with tax withholding; no open-market trading.

The filing shows Thomas C. Stinnett exercising 3,606 Stock Appreciation Rights at $40.00 per share and receiving the same number of common shares. This is a standard derivative exercise that converts compensation into stock rather than an open-market purchase.

To satisfy tax obligations, the issuer withheld 2,646 shares at $75.58 per share, classified as an F-code tax-withholding disposition. Such withholding is mechanical and does not represent discretionary selling pressure in the market.

Post-transaction, Stinnett holds 68,563 common shares directly, plus indirect holdings and a broad set of remaining Stock Appreciation Rights expiring through 2036. The pattern is consistent with ongoing participation in long-term incentive programs rather than a shift in sentiment, so the overall impact is neutral.

Insider Trade Summary

3,606 shares exercised/converted

Mixed 16 txns

Insider Stinnett Thomas C

Role Executive Vice President

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right	3,606	$0.00	--
Exercise	Common Stock	3,606	$40.00	$144K
Tax Withholding	Common Stock	2,646	$75.58	$200K
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Appreciation Right — 0 shares (Direct, null); Common Stock — 68,563 shares (Direct, null); Common Stock — 497 shares (Indirect, By Spouse)

Footnotes (1)

1. [object Object]

Key Figures

SARs exercised: 3,606 shares Exercise price: $40.00 per share Tax-withheld shares: 2,646 shares +5 more

8 metrics

SARs exercised 3,606 shares Stock Appreciation Rights exercised on June 12, 2026

Exercise price $40.00 per share Price for 3,606 Stock Appreciation Rights

Tax-withheld shares 2,646 shares Shares withheld for tax at $75.58 per share

Tax withholding price $75.58 per share Value used for F-code tax-withholding disposition

Direct common shares after transaction 68,563 shares Direct ownership following June 12, 2026 transactions

KSOP indirect shares 13,928 shares Indirect ownership via KSOP for Thomas Stinnett

Largest remaining SAR grant 12,500 underlying shares Stock Appreciation Right at $38.18 expiring May 1, 2029

Earliest SAR expiration 6,871 underlying shares Stock Appreciation Right at $25.76 expiring March 15, 2026

Key Terms

Stock Appreciation Right, tax-withholding disposition, KSOP, automatic dividend reinvestment

4 terms

Stock Appreciation Right financial

"The filing lists multiple Stock Appreciation Right awards tied to common stock."

A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.

tax-withholding disposition financial

"An F-code transaction is described as a tax-withholding disposition of 2,646 shares."

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

KSOP financial

"One indirect holding is noted as "KSOP - fbo Thomas Stinnett"."

automatic dividend reinvestment financial

"A footnote states that holdings include shares acquired through automatic dividend reinvestment."

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Stinnett Thomas C

(Last) (First) (Middle)

PO BOX 32890

(Street)

LOUISVILLE KENTUCKY 40232

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Stock Yards Bancorp, Inc. [ SYBT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								497	I	By Spouse
Common Stock								13,928	I	KSOP - fbo Thomas Stinnett
Common Stock	06/12/2026		M		3,606	A	$40	68,563	D
Common Stock	06/12/2026		F		2,646	D	$75.58	65,943(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$25.76							03/15/2017	03/15/2026	Common Stock	6,871		0	D
Stock Appreciation Right	$40	06/12/2026		M			3,606	03/21/2018	03/21/2027	Common Stock	3,606	$0	0	D
Stock Appreciation Right	$35.9							02/20/2019	02/20/2028	Common Stock	3,541		3,541	D
Stock Appreciation Right	$36.65							02/19/2020	02/19/2029	Common Stock	4,098		4,098	D
Stock Appreciation Right	$38.18							05/01/2020	05/01/2029	Common Stock	12,500		12,500	D
Stock Appreciation Right	$37.3							02/25/2021	02/25/2030	Common Stock	5,738		5,738	D
Stock Appreciation Right	$50.71							02/25/2022	02/25/2031	Common Stock	3,413		3,413	D
Stock Appreciation Right	$54.91							02/14/2023	02/14/2032	Common Stock	4,000		4,000	D
Stock Appreciation Right	$60.76							02/13/2024	02/13/2033	Common Stock	4,132		4,132	D
Stock Appreciation Right	$47.95							02/12/2025	02/12/2034	Common Stock	4,943		4,943	D
Stock Appreciation Right	$75.21							02/10/2026	02/10/2035	Common Stock	3,426		3,426	D
Stock Appreciation Right	$68.33							02/19/2027	02/19/2036	Common Stock	4,093		4,093	D

Explanation of Responses:

1. Includes shares acquired through automatic dividend reinvestment.

	/s/ Vycki Seigle, by Power of Attorney	06/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did SYBT executive Thomas C. Stinnett do in this Form 4 filing?

Thomas C. Stinnett exercised 3,606 Stock Appreciation Rights and received 3,606 shares of Stock Yards Bancorp common stock. The company then withheld 2,646 shares to cover tax obligations, a non-market transaction, leaving him with a larger net equity position.

How many Stock Yards Bancorp (SYBT) shares does Thomas C. Stinnett hold after the transaction?

After the reported activity, Thomas C. Stinnett directly holds 68,563 shares of Stock Yards Bancorp common stock. He also has indirect holdings of 13,928 shares through a KSOP account and 497 shares held by his spouse, plus multiple outstanding Stock Appreciation Rights.

Was the SYBT Form 4 transaction an open-market sale or purchase?

The Form 4 for Stock Yards Bancorp shows no open-market buying or selling. Instead, it reports a derivative exercise of 3,606 Stock Appreciation Rights and a related tax-withholding disposition of 2,646 shares, which is a standard, non-market mechanism to satisfy tax liabilities.

What is the significance of the F-code tax-withholding in the SYBT Form 4?

The F-code in the Stock Yards Bancorp Form 4 indicates 2,646 shares were withheld to pay taxes. This means the issuer retained shares instead of Stinnett selling them in the market, so it does not signal discretionary selling or a change in his view of the stock.

What derivative positions does Thomas C. Stinnett still hold in SYBT?

Stinnett continues to hold several Stock Appreciation Rights on Stock Yards Bancorp common stock. These carry exercise prices from about $25.76 to $75.21 per share, with expiration dates running from 2026 through 2036, reflecting ongoing long-term incentive exposure.

How large was Thomas C. Stinnett’s Stock Appreciation Right exercise in dollar terms?

He exercised 3,606 Stock Appreciation Rights at an exercise price of $40.00 per share. That corresponds to underlying value at the exercise price of roughly $144,240, converting a derivative compensation award into common stock rather than executing an open-market trade.