Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 77

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 77
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 the business of the Bank and Bancorp and prohibited from soliciting customers or employees of the Bank for a period of 18 (12 for Mr. Rehm and Ms. Budnick) months following termination of employment.

Each executive’s agreement allows the executive to be paid the described severance amount, or an amount that is just below the Section 280G of the Internal Revenue Code threshold, if the net amount they would receive after reduction for any excise tax they might owe, would be higher than the full amount after excise taxes are paid. None of the agreements provide for the Company to gross up amounts for taxes owed.

Payment under each of the Change in Control Severance Agreements is made only if the executive fully releases all claims against Stock Yards Bancorp and the Bank.

The following table estimates the amount that would have been payable under the Change in Control Severance Agreements if their terms had been triggered as of December 31, 2024 and other amounts that vest or accelerate if there had been a termination on that date related to a change in control.

| Officer    |     | Change in Control   
 Severance Agreement |           |     | Value Realized if Unvested    
 Options and Stock Awards      
 were Vested and Exercised (1) |           |     | Total Potential 
 Value           |           |
|:-----------|:----|:--------------------|----------:|:----|:------------------------------|----------:|:----|:----------------|----------:|
| Hillebrand |     | $                   | 5,347,500 |     | $                             | 2,126,495 |     | $               | 7,473,995 |
| Poindexter |     | $                   | 3,000,000 |     | $                             | 1,139,051 |     | $               | 4,139,051 |
| Stinnett   |     | $                   | 2,251,309 |     | $                             |   888,451 |     | $               | 3,139,760 |
| Rehm       |     | $                   | 1,298,632 |     | $                             |   633,238 |     | $               | 1,931,870 |
| Budnick    |     | $                   |   958,286 |     | $                             |   474,884 |     | $               | 1,433,170 |

| (1) | This is the