Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 44

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 44
---
 Directors prior to any issuance. None of this stock has been issued to date.

44

			(18)

			Net Income Per Share

The following table reflects net income (numerator) and average shares outstanding (denominator) for basic and diluted net income per share computations:

			Three months ended 

			Nine months ended

			September 30, 

			September 30, 

			(in thousands, except per share data)

			2025

			2024

			2025

			2024

			Net income

			$
			36,241

			$
			29,360

			$
			103,536

			$
			82,845

			Weighted average shares outstanding - basic

			29,369

			29,299

			29,360

			29,277

			Dilutive securities

			157

			146

			151

			119

			Weighted average shares outstanding- diluted

			29,526

			29,445

			29,511

			29,396

			Net income per share - basic

			$
			1.23

			$
			1.00

			$
			3.53

			$
			2.83

			Net income per share - diluted

			1.23

			1.00

			3.51

			2.82

Certain SARs that were excluded from the EPS calculation because their impact was antidilutive were as follows:

			Three months ended

			Nine months ended

			(shares in thousands)

			September 30,

			September 30,

			2025

			2024

			2025

			2024

			Antidilutive SARs

			26

			105

			22

			118

45

			(19)

			Stock-Based Compensation

The fair value of all stock-based awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period.

At Bancorp's 2015 Annual Meeting of Shareholders, shareholders approved the 2015 Omnibus Equity Compensation Plan and authorized the shares available from the expiring 2005 plan for future awards under the 2015 plan. In 2018,