Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 60

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 60
---
% for overall Company performance, and the Compensation Committee considers his line of business goals to be appropriately challenging to attain. The matrix used to compute the incentive award, shown below, is structured such that achievement of target performance in all categories results in a cash incentive equal to 35% of base salary.

Line of Business Component

Mr. Rehm’s line of business bonus consists of a matrix of all areas of his responsibility including Commercial Banking, Private Banking, Corporate Cash Management, International, and Correspondent Banking. The Commercial Banking areas are the source of significant loan and deposit growth for the Company. Net interest income comprises approximately 73% of the Company’s consolidated revenues. Growth in these areas significantly impacts the overall profitability of the Company. Mr. Rehm’s matrix assigns various weights to several categories including net loan and deposit growth, related fee income, credit quality and overall management. The program requires attainment of a minimum of 20 points in aggregate for any incentive bonus to be paid. Additionally, certain point deductions are considered to promote asset quality including deductions for higher-than-expected loan provisioning and non-compliance with established customer service standards. Conversely, better than expected credit quality provides additional points. The matrix used to compute the incentive award, shown below, is structured such that achievement of target performance in all categories results in a cash incentive for his line of business component equal to 26.25% of base salary. Goals are considered appropriately challenging and difficult to achieve.

The following is a summary of Mr. Rehm’s performance under the line of business component.

Line of Business Component

| Specific Components                 |     | Component   
 Weight at   
 Target      
 Performance |     |   |     | Points   
 Achieved |     |
| Loan growth                         |     |             |  40 | % |     |          |  59 |
| Non-interest bearing deposit growth |     |             |  15 | % |     |          |   - |
| Interest bearing deposit growth     |     |             |   5 | % |     |          |  10 |
| Loan fees                           |     |             |   5 | % |     |          |  10 |
| SBA                                 |     |             |   5 | % |     |          |  10 |
| CRA / engagement and outreach       |     |             |   5 | % |     |          |   8 |
| Treasury management revenue         |     |             |  10 | % |     |          |