Hillebrand James A 4

What Happened

• James A. Hillebrand, Chairman & CEO and a director of Stock Yards Bancorp, received an award of 3,637 shares on 2026-03-23 at $64.46 per share (value $234,441).
• To satisfy tax withholding, 1,585 of those shares were surrendered on the same date at $64.46 per share (value $102,169), resulting in a net increase of 2,052 shares (net value ≈ $132,272).
• This was an award/grant acquisition (code A) with shares withheld to cover tax liability (code F). This is an acquisition via award rather than an open-market purchase — routine executive compensation activity rather than a public sale signal.

Key Details

• Transaction dates and prices: 2026-03-23; acquisition 3,637 shares @ $64.46 ($234,441); withholding 1,585 shares @ $64.46 ($102,169).
• Net shares received: 2,052; net value ≈ $132,272.
• Shares owned following the transaction: not disclosed in this filing.
• Notable footnote: the F-code indicates shares were withheld to pay tax liability (share surrender/cashless withholding).
• Filing timeliness: Form 4 filed 2026-03-24 for transactions on 2026-03-23 — appears timely (no late filing indicated).

Context

• This appears to be a standard equity award vesting with shares withheld to cover taxes. Such withholding is common and doesn’t necessarily indicate buy/sell intent in the open market.
• For retail investors, awards increase insider ownership but are compensation-related; purchases (cash buys) are generally stronger signals of insider conviction than automatic awards or withholding.