Item 2.01 Completion of Acquisition or Disposition of Assets.
The information provided in the Introductory Note of this Current Report on Form 8-K is incorporated by reference herein.
Pursuant to the terms and conditions set forth in the Merger Agreement, on
At the effective time of the Merger (the "Effective Time"), each share of the
Company's common stock, no par value per share (the "KTYB Common Stock"), issued
and outstanding immediately prior to the Effective Time (except for certain
shares of KTYB Common Stock owned by the Company or Stock Yards, as provided in
the Merger Agreement) converted into (i) 0.64 shares (the "Exchange Ratio") of
common stock, no par value, of Stock Yards (the "SYBT Common Stock") and
(ii) the right to receive, without interest,
Further, at the Effective Time, each award of a share of KTYB Common Stock
subject to vesting, repurchase or other lapse restrictions (a "KTYB Restricted
Stock Award"), whether vested or unvested, that was outstanding as of
The description of the Merger and the Merger Agreement contained in this Item
2.01 does not purport to be complete and is subject to and qualified in its
entirety by reference to the Merger Agreement, which was filed as Exhibit 2.1
to the Current Report on Form 8-K filed by the Company with the
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
The information set forth under Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.01.
In connection with the closing of the Merger, the Company notified the
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Additionally, the Company intends to file with the
Item 3.03 Material Modification to Rights of Security Holders.
The information set forth above under Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.
Upon the Effective Time, shareholders of the Company immediately prior to the Effective Time ceased to have any rights as shareholders of the Company, other than the right to receive the Merger Consideration as set forth in the Merger Agreement.
Item 5.01 Change in Control of Registrant.
The information set forth above under Item 2.01 of this Current Report on Form 8-K and below under Item 5.02 of this Current Report on Form 8-K is incorporated by reference into this Item 5.01.
As a result of the completion of the Merger, a change in control of the Company occurred.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information set forth above under Item 2.01 of this Current Report on Form 8-K is incorporated into this Item 5.02.
As of the Effective Time, the Company's directors and executive officers ceased serving as directors and executive officers of the Company.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
The information set forth above under Item 2.01 of this Current Report on Form 8-K is incorporated into this Item 5.03.
As a result of the Merger and Parent-Sub Merger, the Company ceased to exist and
Stock Yards continued as the surviving corporation. The Second Amended and
Restated Articles of Incorporation of Stock Yards filed with the Secretary of
Copies of the Second Amended and Restated Articles of Incorporation, as amended, of Stock Yards and the Bylaws of Stock Yards, as described above, are included as Exhibits 3.1, 3.2, 3.3 and 3.4 hereto, respectively, each of which is incorporated by reference herein.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as part of this Current Report on Form 8-K:
2.1 Agreement and Plan of Merger datedJanuary 27, 2021 by and among Stock Yards Bancorp, Inc.,H. Meyer Merger Subsidiary, Inc. andKentucky Bancshares, Inc. (attached as Exhibit 2.1 to Current Report on Form 8-K dated and filed onJanuary 28, 2021 , and incorporated by reference herein. 3.1 Second Amended and Restated Articles of Incorporation, filed with the Secretary ofState of Kentucky onApril 25, 2013 , Exhibit 3.1 to Form 8-K filedApril 25, 2013 , is incorporated by reference herein. 3.2 Articles of Amendment to the Second Amended and Restated Articles of Incorporation, filed with the Secretary ofState of Kentucky onApril 23, 2014 , Exhibit 3.1 to Form 8-K filedApril 25, 2014 , is incorporated by reference herein. 3.3 Articles of Amendment to the Second Amended and Restated Articles of Incorporation, filed with the Secretary ofState of Kentucky onApril 23, 2015 , Exhibit 3.1 to Form 8-K filed onApril 27, 2015 , is incorporated by reference herein. 3.4 Bylaws of Stock Yards as currently in effect, Exhibit 3.1 to Form 8-K/A filedOctober 1, 2018 , is incorporated by reference herein. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) 4
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