Form 4: Republic Bancorp Executive Steven DeWeese Reports Stock Option Grant and Holdings
SEC Form 4 Filing
Executive Vice President Steven DeWeese of Republic Bancorp reported the acquisition of stock options and his current holdings of company stock.
Summary
- Steven DeWeese, an Executive Vice President at Republic Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The filing shows that DeWeese was granted 1,622 employee stock options with an exercise price of $68.02, exercisable starting January 1, 2028, and expiring January 1, 2031.
- The filing also lists DeWeese's existing holdings, including 32,286.86 shares of Class A Common Stock held directly and 9,461 shares held indirectly through a 401(k) plan.
- Additionally, the filing details previously granted employee stock options with various exercise prices and expiration dates.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices. It is neither particularly positive nor negative, but shows alignment of executive and shareholder interests.
Positives
- The grant of stock options to a key executive aligns his interests with those of shareholders.
- The executive's significant direct and indirect holdings demonstrate a strong commitment to the company's success.
Industry Context
Form 4 filings are a standard part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Stock option grants are a common form of executive compensation across the financial services industry.
- The vesting schedules and exercise prices are typical for such grants, aligning with industry norms.
- Comparing the number of options granted and the exercise price to similar roles at peer banks would provide further context.
Stakeholder Impact
- The stock option grant may be viewed positively by shareholders as it aligns executive interests with company performance.
- The filing provides transparency into executive compensation, which is important for stakeholders.
Key Dates
| Date | Description |
|---|---|
| 03/10/2024 | Date of previously granted employee stock options with an exercise price of $35.92. |
| 03/09/2025 | Expiration date of previously granted employee stock options with an exercise price of $35.92. |
| 01/15/2025 | Date of the most recent transaction, the grant of new stock options. |
| 03/10/2025 | Date of previously granted employee stock options with an exercise price of $35.92. |
| 12/31/2025 | Date of previously granted employee stock options with an exercise price of $42.74. |
| 03/09/2026 | Expiration date of previously granted employee stock options with an exercise price of $35.92. |
| 12/31/2026 | Expiration date of previously granted employee stock options with an exercise price of $42.74. |
| 01/01/2027 | Date of previously granted employee stock options with an exercise price of $49.25. |
| 01/01/2028 | Date when the newly granted stock options become exercisable. |
| 01/01/2030 | Expiration date of previously granted employee stock options with an exercise price of $49.25. |
| 01/01/2031 | Expiration date of the newly granted stock options. |
| 01/17/2025 | Date the Form 4 was signed. |
Keywords
stock options, beneficial ownership, Form 4, Republic Bancorp, executive compensation, insider trading, equity securities
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