Stock Yards Bancorp (SYBT) EVP reports share sale and SAR holdings

Rhea-AI Filing Summary

Stock Yards Bancorp, Inc. Executive Vice President Shannon Budnick reported a small disposition of common stock. On 02/05/2026, 48 common shares were disposed of at $71.20 per share, leaving 7,754 common shares held directly.

Budnick also reports indirect beneficial ownership of 336 common shares through a KSOP account. In addition, Budnick holds stock appreciation rights over 7,500, 2,866, and 2,157 shares of common stock, with exercise prices of $54.92, $47.95, and $75.21 and expirations in 2034 and 2035.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Budnick Shannon

Role Executive Vice President

Type	Security	Shares	Price	Value
Tax Withholding	Common	48	$71.20	$3K
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Stock Appreciation Right	--	--	--
holding	Common	--	--	--

Holdings After Transaction: Common — 7,754 shares (Direct); Stock Appreciation Right — 7,500 shares (Direct); Common — 336 shares (Indirect, KSOP-fbo Shannon Budnick)

Footnotes (1)

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^*

Budnick Shannon

(Last) (First) (Middle)

PO BOX 32890

(Street)

LOUISVILLE KY 40232

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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

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

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

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								336	I	KSOP-fbo Shannon Budnick
Common	02/05/2026		F		48	D	$71.2	7,754	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	$54.92							01/03/2025	01/03/2034	Common Stock	7,500		7,500	D
Stock Appreciation Right	$47.95							02/12/2025	02/12/2034	Common Stock	2,866		2,866	D
Stock Appreciation Right	$75.21							02/10/2026	02/10/2035	Common Stock	2,157		2,157	D

Explanation of Responses:

	/s/ Vycki Seigle, by Power of Attorney	02/09/2026
	** 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.

FAQ

What insider transaction did SYBT Executive Vice President Shannon Budnick report?

Shannon Budnick reported disposing of 48 shares of Stock Yards Bancorp common stock at $71.20 per share on February 5, 2026. After this transaction, Budnick directly beneficially owned 7,754 common shares, according to the Form 4 filing.

How many Stock Yards Bancorp (SYBT) shares does Shannon Budnick own after this Form 4?

Following the reported transaction, Shannon Budnick directly beneficially owned 7,754 common shares of Stock Yards Bancorp. The filing also shows indirect beneficial ownership of 336 common shares through a KSOP account for the benefit of Shannon Budnick.

What indirect ownership in SYBT shares does Shannon Budnick disclose?

The Form 4 discloses that Shannon Budnick indirectly owns 336 common shares of Stock Yards Bancorp through a KSOP account. This is listed as “KSOP-fbo Shannon Budnick,” indicating plan-held shares beneficially owned by Budnick.

What stock appreciation rights does Shannon Budnick hold in Stock Yards Bancorp?

Budnick holds stock appreciation rights tied to 7,500, 2,866, and 2,157 shares of Stock Yards Bancorp common stock. These have exercise prices of $54.92, $47.95, and $75.21, with expiration dates in 2034 and 2035, and are reported as directly owned.

Does the SYBT Form 4 show this as a routine insider transaction?

The Form 4 reports a relatively small 48-share disposition and updates existing stock appreciation right holdings. With modest size and no additional narrative, it appears to be a routine ownership update rather than a major strategic insider trade.