<SEC-DOCUMENT>0000350852-25-000041.txt : 20250324
<SEC-HEADER>0000350852-25-000041.hdr.sgml : 20250324
<ACCEPTANCE-DATETIME>20250324094826
ACCESSION NUMBER:		0000350852-25-000041
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250324
DATE AS OF CHANGE:		20250324

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMUNITY TRUST BANCORP INC /KY/
		CENTRAL INDEX KEY:			0000350852
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				610979818
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31220
		FILM NUMBER:		25762605

	BUSINESS ADDRESS:	
		STREET 1:		346 NORTH MAYO TRAIL
		STREET 2:		P.O. BOX 2947
		CITY:			PIKEVILLE
		STATE:			KY
		ZIP:			41502-2947
		BUSINESS PHONE:		(606)433-4643

	MAIL ADDRESS:	
		STREET 1:		346 NORTH MAYO TRAIL
		STREET 2:		P.O. BOX 2947
		CITY:			PIKEVILLE
		STATE:			KY
		ZIP:			41502-2947

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY TRUST BANCORP INC/
		DATE OF NAME CHANGE:	19971124
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>defa14a.htm
<DESCRIPTION>SUPPLEMENT TO 2025 PROXY STATEMENT
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  <div style="text-align: center; line-height: 20.5pt; margin-bottom: 6pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">UNITED STATES</div>
  <div style="text-align: center; line-height: 20.5pt; margin-bottom: 6pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="text-align: center; line-height: 18.25pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 16pt; font-weight: bold;">WASHINGTON, DC 20549</div>
  <div style="text-align: center; line-height: 15.95pt; margin-bottom: 6pt; font-family: 'Times New Roman', serif; font-size: 14pt; font-weight: bold;">SCHEDULE 14A</div>
  <div style="text-align: center; line-height: 15.95pt; margin-bottom: 6pt; font-family: 'Times New Roman', serif; font-size: 14pt; font-weight: bold;">(Rule 14a-101)</div>
  <div style="text-align: center; line-height: 15.95pt; margin-bottom: 6pt; font-family: 'Times New Roman', serif; font-size: 14pt; font-weight: bold;">SCHEDULE 14A INFORMATION</div>
  <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-family: 'Times New Roman', serif; font-weight: bold;">PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE<br>
    SECURITIES EXCHANGE ACT OF 1934</div>
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  <div style="line-height: 11.4pt; margin-bottom: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Filed by the Registrant<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160; </font></font><font style="font-size: 11pt;">&#8999;<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> &#160;&#160;&#160;&#160;&#160;&#160;</font></font><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-size: 11pt;">Filed by a Party other than the Registrant</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;<font style="width: 9pt; display: inline-block;" class="HorizontalTab"> <br>
        &#160;</font></font></font><font style="font-size: 11pt;">&#9744;</font></div>
  <div style="line-height: 11.4pt; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-size: 11pt;">Check the appropriate box:</div>
  <div style="line-height: 12.55pt; margin-bottom: 12pt;"><font style="font-size: 11pt;">&#9744;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Preliminary Proxy Statement</font></div>
  <div style="line-height: 12.55pt; margin-bottom: 12pt;"><font style="font-size: 11pt;">&#9744;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6e(2))</font></div>
  <div style="line-height: 12.55pt; margin-bottom: 12pt;"><font style="font-size: 11pt;">&#9744;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Definitive Proxy Statement</font></div>
  <div style="line-height: 12.55pt; margin-bottom: 12pt;"><font style="font-size: 11pt;">&#8999;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Definitive Additional Materials</font></div>
  <div style="line-height: 12.55pt;"><font style="font-size: 11pt;">&#9744;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Soliciting Material under Rule 14a-12</font></div>
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  <div style="text-align: center; line-height: 20.5pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">Community Trust Bancorp, Inc.</div>
  <div style="text-align: center; line-height: 9.1pt; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">(NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)</div>
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  <div style="line-height: 20.5pt; font-family: 'Times New Roman',serif; font-size: 11pt;">Payment of Filing Fee (Check the appropriate box):</div>
  <div style="line-height: 18.8pt;"><font style="font-size: 11pt;">&#8999;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">No fee required.</font><br>
    <div style="line-height: 22.55pt;"><font style="font-size: 11pt;">&#9744;</font><font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 11pt;">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</font></div>
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  <div style="text-align: center; line-height: 13.7pt; font-family: 'Times New Roman', serif; font-weight: bold;">SUPPLEMENT TO PROXY STATEMENT DATED MARCH 21, 2025</div>
  <div style="text-align: center; line-height: 13.7pt; font-family: 'Times New Roman', serif; font-weight: bold;">FOR THE 2025 ANNUAL MEETING OF SHAREHOLDERS</div>
  <div style="text-align: center; line-height: 13.7pt; font-family: 'Times New Roman', serif; font-weight: bold;">TO BE HELD APRIL 22, 2025</div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">This supplement, dated March&#160;24, 2025, to the Proxy Statement (this &#8220;Supplement&#8221;) supplements the definitive proxy
    statement filed by Community Trust Bancorp, Inc. (&#8220;we&#8221; or &#8220;CTBI&#8221;) with the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) on March&#160;21, 2025 (the &#8220;2025 Proxy Statement&#8221;) in connection with the 2025 Annual Meeting of Shareholders, scheduled to be held
    on the Fourth Floor of the Community Trust Bancorp, Inc. Corporate Headquarters, 346 North Mayo Trail, Pikeville, Kentucky, on Tuesday, April 22, 2025 at 10:00 a.m. EDT (the &#8220;Annual Meeting&#8221;). This Supplement is being filed with the SEC on March 24,
    2025 and made available to shareholders on or about April 1, 2025.</div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">This Supplement clarifies the effect of abstentions and &#8220;broker non-votes&#8221; with respect to the proposals our shareholders
    are being asked to consider and vote on at the Annual Meeting.</div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">As previously disclosed in the 2025 Proxy Statement, abstentions will be treated as present for purposes of determining a
    quorum, but as unvoted shares for purposes of determining the approval of any matter submitted to the shareholders for a vote. If a broker indicates that it does not have discretionary authority as to certain shares to vote on a particular matter, such
    shares will not be considered as present and entitled to vote with respect to such matter. At the Annual Meeting, brokers and other nominees will not have discretionary authority with respect to election of directors, approval of the proposed Amended
    and Restated 2025 Stock Ownership Incentive Plan, or approval of the advisory (nonbinding) resolution relating to executive compensation. Therefore, if you hold shares through a broker or other nominee and do not provide voting instructions to your
    broker or other nominee, your shares will not be voted with respect to such proposals.</div>
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  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">To clarify the above, this Supplement revises the 2025 Proxy Statement as follows:</div>
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    <table cellspacing="0" cellpadding="0" id="zfe27c836d6aa48df83db986ebfc0e229" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 12pt; width: 100%; text-align: left; color: #000000;">

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            <div style="text-align: left; margin-left: 18pt; line-height: 12.55pt; font-size: 11pt;">&#8226;</div>
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          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">In the section of the 2025 Proxy Statement entitled &#8220;<font style="font-style: italic;">Election of Directors</font>&#8221;, the second paragraph is hereby revised by adding the following sentences to the end of the paragraph:</div>
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  <div style="text-align: justify; margin-right: 36pt; margin-left: 72pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">&#8220;A plurality voting standard applies for the election of our directors. Therefore, the ten director
    nominees receiving the most &#8220;FOR&#8221; votes from the holders of shares present in person or by proxy at the Annual Meeting and entitled to vote on the election of directors will be elected. Withholding authority to vote your shares with respect to one or
    more director nominees will have no effect on the election of those nominees. Broker non-votes will also have no effect on the election of the nominees.&#8221;</div>
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    <table cellspacing="0" cellpadding="0" id="zbce5cefbddbe4eda915d6731c19e7e9f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 12pt; width: 100%; text-align: left; color: #000000;">

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            <div style="text-align: left; margin-left: 18pt; line-height: 12.55pt; font-size: 11pt;">&#8226;</div>
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            <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">In the section of the 2025 Proxy Statement entitled &#8220;<font style="font-style: italic;">Proposed Amended and Restated 2025 Stock Ownership Incentive Plan</font>&#8221;, the last paragraph is hereby revised by adding the following sentence immediately before the last sentence of the paragraph:</div>
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  <div style="text-align: justify; margin-right: 36pt; margin-left: 72pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">&#8220;Abstentions will have the effect of a vote against the proposal; broker non-votes will have no effect
    on the proposal.&#8221;</div>
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            <div style="text-align: left; margin-left: 18pt; line-height: 12.55pt; font-size: 11pt;">&#8226;</div>
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            <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The section of the 2025 Proxy Statement entitled &#8220;<font style="font-style: italic;">Ratification of the Selection of Independent Registered Public Accounting Firm</font>&#8221; is hereby revised by adding the following sentence immediately before the last sentence of the section:</div>
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  <div style="text-align: justify; margin-right: 36pt; margin-left: 72pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">&#8220;Abstentions will have the effect of a vote against the proposal; broker non-votes will have no effect
    on the proposal.&#8221;</div>
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    <table cellspacing="0" cellpadding="0" id="zdce9384f915349cb8925f0ffd152c93f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 12pt; width: 100%; text-align: left; color: #000000;">

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            <div style="text-align: left; margin-left: 18pt; line-height: 12.55pt; font-size: 11pt;">&#8226;</div>
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            <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">In the section of the 2025 Proxy Statement entitled &#8220;<font style="font-style: italic;">Advisory Vote on Executive Compensation</font>&#8221;, the last paragraph is hereby revised by adding the following sentence immediately before the last sentence of the paragraph:</div>
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  <div style="text-align: justify; margin-right: 36pt; margin-left: 72pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">&#8220;Abstentions and broker non-votes will have no effect on the proposal.&#8221;</div>
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  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Except as described in this Supplement, none of the items or information presented in the 2025 Proxy Statement is affected
    by this Supplement. This Supplement does not provide all of the information that is important to your voting decisions at the Annual Meeting, and the 2025 Proxy Statement contains other important additional information. This Supplement should be read
    in conjunction with the 2025 Proxy Statement.&#160; This Supplement does not change the proposals to be acted upon at the Annual Meeting, which are described in the 2025 Proxy Statement.</div>
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