Form 4: Republic Bancorp Director Andrew Trager-Kusman Reports Changes in Beneficial Ownership

Director Andrew Trager-Kusman reports changes in beneficial ownership of Republic Bancorp stock, including acquisitions through dividend equivalent rights and holdings through family limited partnerships.

Summary

• On June 28, 2024, Andrew Trager-Kusman, a director of Republic Bancorp Inc., reported changes in his beneficial ownership of the company's stock.
• He acquired 60.325 shares of Class A Common Stock at a price of $53.61 per share.
• Following the transaction, he directly owns 1,048.878 shares of Class A Common Stock.
• He also indirectly owns 10,867.721 shares of Class A Common Stock through Jaytee Properties Limited Partnership and 262,603.221 shares through Teebank Family Limited Partnership.
• Additionally, he indirectly holds derivative securities (convertible Class B Common Stock) through these partnerships.
• He also holds an employee stock option to buy 1,000 shares of Class A Common Stock at $35.92, exercisable from March 10, 2025, and expiring on March 9, 2026.
• The report includes a Limited Power of Attorney, effective April 10, 2024, appointing Kevin Sipes and John Rippy as his attorneys-in-fact for Section 16 filings.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard SEC filing reporting changes in beneficial ownership. The acquisition of shares is a mildly positive signal, but it's not a major event.

Positives

• The director's acquisition of shares could be interpreted as a positive signal, indicating confidence in the company's future performance.
• The director continues to hold a significant number of shares, both directly and indirectly, demonstrating a continued investment in the company.

Future Outlook

The document does not contain specific forward-looking statements about the company's future performance.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency to the market regarding their transactions in the company's stock. It's common for directors and officers to have holdings through various entities like family partnerships.

Comparison to Industry Standards

• Comparing Republic Bancorp to regional peers like WesBanco or First Financial Bancorp, insider ownership is a common metric.
• Analyzing the percentage of shares held by insiders relative to the total outstanding shares provides context.
• Similar filings from directors at these comparable companies can be used to benchmark the level of insider activity and sentiment.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The director's stock ownership aligns his interests with those of other shareholders.

Key Dates