SYBT director receives stock award and holds SAR
Stock Yards Bancorp, Inc. director David L. Hardy reported a compensation-related equity award and updated holdings.
Rhea-AI Filing Summary
Stock Yards Bancorp, Inc. director David L. Hardy reported a compensation-related equity award and updated holdings. He received an award of 104 shares of common stock at $73.09 per share, credited to a Trust Directors Deferred Comp Plan, bringing his indirect holdings in that plan to 673 shares. Separately, he directly holds 2,847 common shares, which include shares acquired through automatic dividend reinvestment. The filing also shows a stock appreciation right tied to 1,000 underlying common shares with a $67.85 exercise price and an expiration in 2035, indicating an additional long-term equity incentive position.
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Insider Trade Summary
Grant/Award: 104 shares
Grant/Award
3 txns
Insider
Hardy David L.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 104 | $73.09 | $8K |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 673 shares (Indirect, Trust Directors Deferred Comp Plan);
Stock Appreciation Right — 1,000 contracts (Direct);
Common Stock — 2,847 shares (Direct)
Footnotes (1)
- F1. Includes shares acquired through automatic dividend reinvestment.
Key Figures
Director stock award: 104 shares at $73.09
Indirect holdings after award: 673 shares
Direct common stock holdings: 2,847 shares
+2 more
5 metrics
Director stock award
104 shares at $73.09
Common stock grant to Trust Directors Deferred Comp Plan
Indirect holdings after award
673 shares
Common stock held through Trust Directors Deferred Comp Plan
Direct common stock holdings
2,847 shares
Common stock held directly, including dividend reinvestment
Stock appreciation right exercise price
$67.85
Exercise price on SAR over 1,000 underlying shares
Stock appreciation right underlying shares
1,000 shares
Underlying SYBT common stock for SAR expiring in 2035
Key Terms
Stock Appreciation Right, Trust Directors Deferred Comp Plan, automatic dividend reinvestment
3 terms
Stock Appreciation Right financial
"The filing also shows a stock appreciation right tied to 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
"credited to a Trust Directors Deferred Comp Plan, bringing his indirect holdings in that plan to 673 shares"
automatic dividend reinvestment financial
"which include shares acquired through automatic dividend reinvestment"
FAQ
What insider transaction did SYBT director David L. Hardy report?
Director David L. Hardy reported receiving 104 shares of Stock Yards Bancorp common stock as a compensation-related award. The shares were credited to a Trust Directors Deferred Comp Plan, increasing his indirect holdings in that plan while not representing an open-market purchase or sale.
What are the terms of David L. Hardy’s stock appreciation right in SYBT?
David L. Hardy holds a stock appreciation right covering 1,000 underlying SYBT common shares with an exercise price of $67.85. The right is exercisable through an expiration date in 2035, providing additional long-term, derivative-based equity compensation exposure to the company’s stock.
Was the SYBT Form 4 transaction an open-market buy or sell?
The SYBT Form 4 does not show an open-market buy or sell. Instead, it reports a grant or award of 104 shares to a deferred compensation trust for director fees, along with updates to existing direct holdings and a previously awarded stock appreciation right position.
How does the deferred compensation plan affect David L. Hardy’s SYBT holdings?
The Trust Directors Deferred Comp Plan holds 673 SYBT shares for David L. Hardy after the 104-share award. These shares represent indirect ownership linked to his director compensation, separate from the 2,847 common shares he holds directly in his own name.
What does the dividend reinvestment footnote in the SYBT Form 4 mean?
The footnote explains that Hardy’s direct common stock holdings include shares acquired through automatic dividend reinvestment. Instead of receiving cash dividends, those amounts were used to purchase additional SYBT shares, gradually increasing his direct share count over time.
AI-generated analysis. How Rhea-AI works. Not financial advice.
