Stock Yards Bancorp announces retirement of wealth management head, names Shannon Budnick as successor

Stock Yards Bancorp, Inc.

Kathleen C. Thompson to retire as Senior EVP, Director of Wealth Management & Trust effective Jan. 2, 2024.
Shannon Budnick, currently SVP and Managing Director of Investments, promoted to Executive VP and Director effective Jan. 3, 2024.
Thompson grew Wealth Management assets from $200M to over $7B since joining in 1992.
Budnick has over 25 years of experience and will join executive leadership team.
Transition agreement includes consulting at $250/hour, full vesting of SARs, and noncompete covenants.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Kathleen C. Thompson

Senior Executive Vice President, Director of Wealth Management & Trust Group

SYBT · Stock Yards Bancorp, Inc.

Effective: 2024-01-02
Successor: Shannon Budnick
Filed: August 16, 2023, 7:59 PM ET

Kathleen C. Thompson, Senior Executive Vice President, Director of Wealth Management & Trust Group at the Company’s subsidiary, Stock Yards Bank & Trust Company (the “Bank”), and a member of the Board of Directors of each of the Company and the Bank, entered into an Executive Transition Agreement on August 16, 2023 (the “Transition Agreement”) with the Company and the Bank pursuant to which she will retire from all positions with the Bank and retire from the Board of Directors of each of the Company and the Bank effective January 2, 2024 (the “Retirement Date”).

Appointed

Shannon Budnick

Executive Vice President, Director of Wealth Management & Trust Group

SYBT · Stock Yards Bancorp, Inc.

Effective: 2024-01-03
Filed: August 16, 2023, 7:59 PM ET

The Company also announced on August 16, 2023 that, effective January 3, 2024, Shannon Budnick, who now serves as the Bank’s Senior Vice President and Managing Director of Investments, will serve as Executive Vice President, Director of Wealth Management & Trust Group at the Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Kathleen C. Thompson departed as Senior Executive Vice President, Director of Wealth Management & Trust Group at Stock Yards Bancorp, Inc..

Action: retire
Role: Senior Executive Vice President, Director of Wealth Management & Trust Group

Exact text from the filing

Kathleen C. Thompson, Senior Executive Vice President, Director of Wealth Management & Trust Group at the Company’s subsidiary, Stock Yards Bank & Trust Company (the “Bank”), and a member of the Board of Directors of each of the Company and the Bank, entered into an Executive Transition Agreement on August 16, 2023 (the “Transition Agreement”) with the Company and the Bank pursuant to which she will retire from all positions with the Bank and retire from the Board of Directors of each of the Company and the Bank effective January 2, 2024 (the “Retirement Date”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Shannon Budnick was appointed as Executive Vice President, Director of Wealth Management & Trust Group at Stock Yards Bancorp, Inc..

Action: appointed
Role: Executive Vice President, Director of Wealth Management & Trust Group

Exact text from the filing

The Company also announced on August 16, 2023 that, effective January 3, 2024, Shannon Budnick, who now serves as the Bank’s Senior Vice President and Managing Director of Investments, will serve as Executive Vice President, Director of Wealth Management & Trust Group at the Bank.

View on SEC.gov

Stock Yards Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-23-005325

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