Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 55

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 55
---
 TX             |     |                     | 259 |     |              |  7,792 |     |                | 1,033 |
| The First Bancshares, Inc. (FBMS) MS             |     |                     | 242 |     |              |  8,017 |     |                |   802 |
| Tompkins Financial Corporation (TMP) NY          |     |                     | 306 |     |              |  7,644 |     |                |   961 |
| Univest Financial Corporation (UVSP) PA          |     |                     | 308 |     |              |  7,359 |     |                |   699 |
| Veritex Holdings, Inc. (VBTX) TX                 |     |                     | 446 |     |              | 12,609 |     |                |   990 |
| Washington Trust Bancorp, Inc. (WASH) RI         |     |                     | 217 |     |              |  6,859 |     |                |   589 |
| Median                                           |     |                     | 365 |     |              |  8,330 |     |                | 1,033 |
| Stock Yards Bancorp, Inc.                        |     |                     | 340 |     |              |  7,668 |     |                | 1,617 |

Referencing the Competitive Market in Determining 2024 Compensation

The Committee considers several factors in determining appropriate pay levels and plan designs for our NEOs. These factors include competitive compensation data from peer companies and the banking market in general. The Committee does not view competitive market prescriptively or tie the compensation levels of our executives to specific market percentiles. Instead, the Committee applies judgment and discretion in establishing targeted pay levels, considering not only competitive market data, but also factors such as company, business unit and individual performance, scope of responsibility, internal pay equity, skill sets, leadership potential and succession planning.

Mix of Pay

We believe that our executive compensation program strikes an appropriate balance between fixed and variable pay as well as between short and long-term pay. The following charts for our CEO and our other NEOs illustrate the target compensation established in early 2024, consisting of base salary, annual incentive awards, and long-term equity-based compensation granted in 2024

<div align='center'>39</div>

| Name        |     | Salary |         |     | Target Bonus 
 %            |