Business Context and Reporting Period
This Form 8-K Current Report was filed by Stock Yards Bancorp, Inc. (SYBT) on September 3, 2025. The filing discloses a material change in executive leadership regarding the appointment of a new Principal Accounting Officer and the transition of the previous holder of that role.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on personnel changes and compensation arrangements rather than financial performance data.
Material Changes
- Appointment: Michael W. Woods was appointed as Senior Vice President and Principal Accounting Officer, effective September 3, 2025.
- Role Transition: T. Clay Stinnett stepped down as Principal Accounting Officer but remains employed as Executive Vice President and Chief Financial Officer.
- Responsibilities: Mr. Woods will oversee general accounting, SEC/regulatory reporting, treasury functions, and budgeting.
Guidance, Outlook, and Compensation
The filing details the compensatory arrangements for Mr. Woods, which include:
- Base Salary: $240,000 annually.
- Incentives: Eligibility for an annual cash bonus up to 30% of base salary and stock awards up to 20% of base salary, subject to performance.
- Equity Grant: An initial grant of 1,000 shares of restricted stock vesting over five years.
- Severance: Eligibility for a double-trigger change in control payment equal to one times base salary plus historic bonus.
No forward-looking financial guidance, risk factors, or contingencies were disclosed in this specific filing.
Investor Verification Checklist
- Verify the effective date of Michael W. Woods' appointment (September 3, 2025).
- Confirm the continued role of T. Clay Stinnett as CFO following the transition.
- Review the specific vesting schedule for the 1,000 restricted stock shares granted to Mr. Woods.
- Check for any subsequent filings regarding the departure of the previous Principal Accounting Officer if further details on the transition are required.