Stock Yards Bancorp (NASDAQ: SYBT) director reports stock grant and SAR position

Rhea-AI Filing Summary

Stock Yards Bancorp, Inc. director David L. Hardy reported a compensation-related share grant and updated holdings. On May 21, 2026, a grant of 79 shares of Common Stock at $71.28 per share was credited to the Trust Directors Deferred Comp Plan, which is reported as indirect ownership. Following this grant, indirect holdings in that plan total 752 Common shares, while direct holdings are 2,847 Common shares. The filing also shows a Stock Appreciation Right covering 1,000 underlying Common shares with an exercise price of $67.85 and an expiration date of October 21, 2035, indicating a remaining derivative position.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Hardy David L.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	79	$71.28	$6K
holding	Stock Appreciation Right	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 752 shares (Indirect, Trust Directors Deferred Comp Plan); Stock Appreciation Right — 1,000 shares (Direct, null); Common Stock — 2,847 shares (Direct, null)

Footnotes (1)

Key Figures

Stock grant: 79 shares Grant price: $71.28/share Direct holdings: 2,847 shares +3 more

6 metrics

Stock grant 79 shares Common Stock grant at $71.28 per share on May 21, 2026

Grant price $71.28/share Price used for 79-share Common Stock grant

Direct holdings 2,847 shares Common Stock directly held after reported transactions

Indirect holdings 752 shares Common Stock held via Trust Directors Deferred Comp Plan after grant

Stock Appreciation Right exercise price $67.85 Exercise price for SAR over 1,000 underlying shares

SAR underlying shares 1,000 shares Underlying Common Stock for Stock Appreciation Right expiring October 21, 2035

Key Terms

Stock Appreciation Right, Trust Directors Deferred Comp Plan, grant/award acquisition

3 terms

Stock Appreciation Right financial

"The filing also shows a Stock Appreciation Right covering 1,000 underlying Common shares"

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.

Trust Directors Deferred Comp Plan financial

"a grant of 79 shares of Common Stock was credited to the Trust Directors Deferred Comp Plan"

grant/award acquisition financial

"The Form 4 characterizes the 79-share Common Stock transaction as a grant or award acquisition"

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^*

Hardy David L.

(Last) (First) (Middle)

1040 EAST MAIN STREET

(Street)

LOUISVILLE KENTUCKY 40206

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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	05/21/2026		A		79	A	$71.28	752	I	Trust Directors Deferred Comp Plan
Common Stock								2,847	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	$67.85							10/21/2026	10/21/2035	Common Stock	1,000		1,000	D

Explanation of Responses:

	/s/ Vycki Seigle, by Power of Attorney	05/22/2026
	** 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 insider transaction did SYBT director David L. Hardy report?

David L. Hardy reported a compensation-related grant of 79 shares of Stock Yards Bancorp Common Stock. The shares were credited at $71.28 each to a Trust Directors Deferred Comp Plan and are reported as indirect ownership rather than an open-market purchase or sale.

How many SYBT shares does David L. Hardy hold after this Form 4 filing?

After the reported transactions, David L. Hardy holds 2,847 shares of Stock Yards Bancorp Common Stock directly and 752 shares indirectly through a Trust Directors Deferred Comp Plan. The filing presents these as separate ownership categories, clarifying his direct and indirect equity exposure.

What Stock Appreciation Right position is disclosed for SYBT’s David L. Hardy?

The filing shows a Stock Appreciation Right tied to 1,000 underlying shares of Stock Yards Bancorp Common Stock. It has an exercise price of $67.85 and an expiration date of October 21, 2035, representing a remaining long-term derivative incentive position.

Was the SYBT insider transaction an open-market buy or sell?

The Form 4 characterizes the 79-share Common Stock transaction as a grant or award acquisition, not an open-market trade. It is coded as a compensation-related award to a Trust Directors Deferred Comp Plan, rather than a discretionary market purchase or sale.

How is indirect ownership reported for SYBT director David L. Hardy?

Indirect ownership is reported through a Trust Directors Deferred Comp Plan, which now holds 752 Common shares. The Form 4 labels this position as indirect with the plan named in the nature-of-ownership field, distinguishing it from Hardy’s 2,847 directly held shares.