Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 63

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 63
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Having determined the total 2024 annual incentive plan payouts for each eligible NEO, the Committee then approved the annual incentive plan payout amounts as summarized below.

| Executive  |     | Salary ($) |         |     | Target Bonus (%) |    |   |     | Target Bonus ($) |         |     | Actual Earned % |     |   |     | Actual     
 Earned ($) |           |
| Hillebrand |     |            | 775,000 |     |                  | 65 | % |     |                  | 503,750 |     |                 | 130 | % |     |            | 1,007,500 |
| Poindexter |     |            | 500,000 |     |                  | 50 | % |     |                  | 250,000 |     |                 | 100 | % |     |            |   500,000 |
| Stinnett   |     |            | 425,000 |     |                  | 45 | % |     |                  | 191,250 |     |                 |  90 | % |     |            |   382,500 |
| Rehm       |     |            | 425,000 |     |                  | 35 | % |     |                  | 148,750 |     |                 |  52 | % |     |            |   220,235 |
| Budnick    |     |            | 356,000 |     |                  | 35 | % |     |                  | 124,600 |     |                 |  44 | % |     |            |   155,750 |

Long-Term Incentives

The Committee believes that long-term incentive stock awards effectively align executives with interests of shareholders by providing individuals who have responsibility for management and growth of the Company with an opportunity to increase their ownership of the Company's Common Stock and to have a meaningful interest in the future of the Company and sustained shareholder value creation. In making determination about the mix of vehicles in the long-term incentive equity grants, the Compensation Committee allocates a higher than median portion to performance-based equity, and a lower portion to time-based equity.

2024 Equity Awards

In 2024, the Committee continued its historical practice of having PSUs at target constitute 75% of the grant date value of the total long-term award and SARs represent 25% of the total long-term award. The value of the long-term incentive award was determined as a percentage