Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 42

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 42
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 16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers, our directors and persons who own more than 10% of a registered class of Stock Yards Bancorp’s Common Stock to file initial reports of ownership and changes in ownership with the SEC and the Nasdaq. Based solely on a review of the ownership reports filed electronically with the SEC during 2024 and written representations from the applicable executive officers and our directors, all persons subject to the reporting requirements of Section 16(a) filed the required reports on a timely basis for the year ended December31, 2024.

<div align='center'>28

EXECUTIVE COMPENSATION AND OTHER INFORMATION

REPORT ON EXECUTIVE COMPENSATION</div>

Compensation Discussion and Analysis

This compensation discussion and analysis (“CD&A”) describes the philosophy, objectives, process, components, and additional aspects of our 2024 executive compensation program. This CD&A is intended to be read in conjunction with the tables and related narrative disclosure that immediately follow this section, which provide further historical compensation information for the following named executive officers (“NEOs”):

| Name                 | Position                                                                     |
| James A. Hillebrand  | Chairman and Chief Executive Officer (“Chairman/CEO”)                        |
| Philip S. Poindexter | President                                                                    |
| T. Clay Stinnett     | Executive Vice President and Chief Financial Officer (“CFO”)                 |
| Michael V. Rehm      | Executive Vice President and Chief Lending Officer                           |
| Shannon B. Budnick   | Executive Vice President and Director of Wealth Management & Trust (“WM&T”)* |

*Ms. Budnick was promoted to Executive Vice President and Director of WM&T on January 3, 2024, and became an executive officer of the Company.

<div align='center'>CD&A Reference Guide</div>

| Executive Summary                              | Section I   |
| Compensation Philosophy and Objectives         | Section II  |
| Compensation Determination Process             | Section III |
| Components of Our Compensation Program         | Section IV  |
| Additional Compensation Policies and Practices | Section V   |

I. Executive Summary

Our 120 year of operations was the best in the Company’s history. As we have had in 28 of the past 32 years, the Stock Yards team produced record net income and earnings per share (“EPS”) for our shareholders, reaching $114.5 million, or $3.89 per diluted share. Highlighted by the largest year of