Stock Yards Bancorp Director Edwin Saunier Purchases Nearly 40 Shares at $82.45 Per Share

Director Share Purchase Transaction Details

Edwin S. Saunier, identified in the disclosure as a director of Stock Yards Bancorp, executed an open market purchase of common stock on July 27, 2026. The filing indicates that Saunier acquired 39 shares at a price of $82.45 per share. This transaction was processed as a direct acquisition and represents a straightforward equity investment by a member of the bank's board of directors. The purchase price of $82.45 per share reflects market conditions at the time of the transaction.

The timing and size of the purchase may signal Saunier's confidence in the banking company's value and prospects. Board members and senior executives often engage in open market purchases of company stock, which can be viewed by investors as a vote of confidence in the organization's fundamentals and future direction. However, individual share purchases by directors do not necessarily indicate broader company guidance or upcoming announcements.

Beneficial Ownership Position Following Transaction

Following the July 27, 2026 purchase, Saunier's total direct beneficial ownership of Stock Yards Bancorp common stock rose to 6,217 shares. This figure represents his direct holdings and excludes shares held through other structures. The disclosure breaks down his ownership into two distinct categories: shares held directly and shares held indirectly through benefit plans or trusts.

In addition to his direct holdings, Saunier maintains beneficial ownership of 6,057 shares held indirectly through a director deferred compensation plan trust. The filing notes that the indirect holdings include shares acquired through automatic dividend reinvestment. This means that dividends paid on shares within the trust are automatically used to purchase additional shares, thereby increasing his ownership stake over time without requiring separate purchase transactions.

Director Deferred Compensation Plan Holdings

The disclosure reveals that a significant portion of Saunier's beneficial ownership is structured through Stock Yards Bancorp's director deferred compensation plan. This is a common arrangement at public companies, allowing directors to defer portions of their compensation into company stock or other investment vehicles. The 6,057 shares held indirectly through the trust represent a substantial component of Saunier's overall stake in the bank.

The automatic dividend reinvestment mechanism associated with the deferred compensation trust means that Saunier's indirect ownership has grown beyond the initial amount deferred. Each dividend payment on the shares within the trust generates fractional or additional shares, compounding his position over time. This structure provides directors with a tax-efficient method of accumulating company stock while maintaining alignment with shareholder interests.

Stock Appreciation Rights Maintained by Director

In addition to his common stock holdings, the disclosure indicates that Saunier maintains a stock appreciation right (SAR) with an exercise price of $47.17 per share. This derivative security is exercisable beginning July 20, 2022, and expires on July 20, 2031. The SAR represents a right to receive compensation based on the appreciation of the company's stock price above the $47.17 strike price, without requiring the director to purchase shares outright.

The SAR grant allows Saunier to benefit from stock price appreciation while managing his capital deployment. Since the filing was submitted in late July 2026, and the shares traded at $82.45 per share during the recent transaction, the SAR carries significant intrinsic value. Saunier's beneficially owned position in derivative securities includes 1,000 shares underlying the SAR, extending his economic exposure to the bank's performance through multiple instruments.

Regulatory Reporting and Section 16 Compliance

The disclosure was filed in compliance with Section 16 of the Securities Exchange Act of 1934, which requires officers, directors, and beneficial owners of more than ten percent of a company's securities to file statements of changes in ownership. Edwin S. Saunier's status as a director of Stock Yards Bancorp triggers mandatory reporting obligations under these regulations. The filing was submitted on July 28, 2026, one day after the transaction date, consistent with SEC deadline requirements.

The Form 4 filing represents an official record maintained by the SEC and accessible to investors through the EDGAR database. These disclosures are designed to provide transparency regarding insider trading activity and ensure that market participants have timely information about significant stock transactions by company insiders. The standardized format and mandatory nature of Section 16 filings create a consistent framework for tracking beneficial ownership changes among corporate insiders.

Saunier's Address and Official Filing Information

The filing identifies Edwin S. Saunier's address as P.O. Box 32890, Louisville, Kentucky 40232, United States. This address is listed as the reporting person's official residential or business location for SEC correspondence. Stock Yards Bancorp, Inc., the issuer, is similarly based in Louisville, Kentucky, reflecting the company's regional headquarters location.

The disclosure was signed by Vycki Seigle, acting by power of attorney on Saunier's behalf, on July 28, 2026. This arrangement allows designated individuals to execute regulatory filings on behalf of directors or officers, a standard practice at public companies. The power of attorney structure ensures that regulatory deadlines are met efficiently while maintaining proper authorization and accountability for filing accuracy.

Compliance and Certification Requirements

The Form 4 filing includes a standard certification reminder that intentional misstatements or omissions of facts in the disclosure constitute federal criminal violations under 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). This reminder emphasizes the legal significance of insider trading reports and the serious consequences of providing false information to the SEC. Saunier and the authorized signer are responsible for the accuracy and completeness of all information disclosed.

The filing confirms that Saunier remains subject to Section 16 reporting obligations, as indicated by the unchecked box stating "no longer subject to Section 16." This means Saunier continues to hold a position at Stock Yards Bancorp that triggers mandatory insider trading disclosure requirements. As long as Saunier maintains his status as a director, future transactions in company securities will require similar regulatory filings within the prescribed timeframes.

Investment Timing and Market Conditions

The July 27, 2026 purchase occurred at a transaction price of $82.45 per share, providing a reference point for Stock Yards Bancorp's equity valuation at that time. Director purchases at market prices reflect the prevailing investor sentiment toward the company's securities and represent real-time expressions of insider confidence. The magnitude of the purchase—39 shares—suggests a modest commitment of capital by Saunier, potentially indicating either selective deployment of investment resources or a general pattern of gradual share accumulation.

The disclosure does not provide context regarding broader market conditions, company performance metrics, or strategic developments that may have influenced the purchase decision. Investors analyzing insider trading activity should consider that individual share purchases by directors may reflect personal investment strategies, tax planning, or portfolio rebalancing objectives rather than material non-public information or company-specific catalysts.

Overview of Total Beneficial Ownership Structure

Saunier's aggregate beneficial ownership position in Stock Yards Bancorp comprises multiple layers: 6,217 shares held directly following the July 2026 purchase, 6,057 shares held indirectly through the director deferred compensation plan trust, and 1,000 shares underlying the stock appreciation right. Combined, these positions represent a substantial equity stake and demonstrate sustained economic alignment between Saunier and the company he serves as a director. The diversified ownership structure reflects typical arrangements for long-serving board members at established financial institutions.

The filing methodology required by SEC regulations ensures that all beneficial ownership interests—whether held directly, indirectly through trusts, or in derivative form—are disclosed transparently. This comprehensive reporting framework enables investors to assess the full scope of insider holdings and evaluate the alignment of management and board interests with shareholder objectives. Saunier's multi-layered ownership position indicates a material stake in Stock Yards Bancorp's financial performance and strategic direction.