Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 88

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 88
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orp, Inc., P.O. Box 32890, Louisville, Kentucky 40232-2890, (502) 625-0890; or clay.stinnett@syb.com. A copy of the Form 10-K may also be obtained at the Company’s website,www.syb.com, or the SEC’s website,www.sec.gov.

<div align='center'>OTHER MATTERS</div>

The officers and directors of Stock Yards Bancorp do not know of any matters to be presented for shareholder approval at the Annual Meeting other than those described in this Proxy Statement. If any other matters should properly come before the Annual Meeting, the Board of Directors intends that the persons designated as proxies in the section captioned “Proxy Materials – What is a proxy?”on page 1 of this Proxy Statement, or their substitutes, will vote such proxy as recommended by the Board or, if no recommendation is given in their own discretion in the best interests of Stock Yards Bancorp.

|                      | By Order of the Board of Directors   |
|                      | /s/ James A. Hillebrand              |
|                      | James A. Hillebrand                  
 Chairman and Chief Executive Officer 
 Stock Yards Bancorp, Inc.            |
| Louisville, Kentucky 
 March 12, 2025       |                                      |

<div align='center'>65

APPENDIX A

Reconciliation of GAAP and non-GAAP Financial Measures</div>

Earnings per diluted share equals net income divided by weighted average diluted shares outstanding. Return on average assets equals net income divided by total average assets, annualized to reflect a full year return on average assets. Similarly, return on average equity equals net income divided by total average equity, annualized to reflect a full year return on average equity.

As a result of the substantial impact that one-time acquisition costs related to the Commonwealth Bancshares acquisition had on results for the year ended December 31, 2022, Bancorp considers adjusted diluted earnings per share, return on average assets and return on average equity ratios important as they reflect performance after removing certain merger expenses and purchase accounting adjustments.

|                                                   | (dollars and shares in thousands) | Years Ended December 31, |      2024 |   |     |   |      2023 |   |     |   |      2022 |   |
|:--------------------------------------------------|:----------------------------------|:-------------------------|----------:|:--|:----|:--|----------:|:--|:----|: