[Form 4] REPUBLIC BANCORP INC /KY/ Insider Trading Activity

Rhea-AI Filing Summary

Andrew Trager Kusman, a director of Republic Bancorp, filed a Form 4 reporting an acquisition on 09/30/2025. The filing shows he acquired 38.33 shares of Class A common stock at a price of $72.25 per share, and reports 1,566.81 shares owned following that transaction. The report also discloses substantial indirect holdings: 10,867.721 Class A shares held by Jaytee Properties Limited Partnership and 262,603.221 Class A shares held by Teebank Family Limited Partnership. The filing records additional dividend-equivalent rights and convertible Class B shares that are immediately convertible into Class A shares, with Jaytee and Teebank holding 2,435.108 and 64,275.609 underlying Class A shares respectively. The filing includes the reporting person’s relationship to the issuer as a director and notes a disclaimer of beneficial ownership to the extent of pecuniary interest. The form is signed by an attorney-in-fact on 10/02/2025.

Positive

• Director acquisition recorded: 38.33 Class A shares purchased at $72.25, demonstrating an insider buy reported under Section 16
• Large disclosed indirect holdings: 10,867.721 shares via Jaytee Properties LP and 262,603.221 shares via Teebank Family LP increase transparency about related-party ownership
• Convertible shares disclosed: Class B shares are immediately convertible one-for-one into Class A, clarifying potential share conversion impact

Negative

• None.

Insights

Securities Analyst

TL;DR: Director reported a small personal purchase and large indirect family-related holdings, consistent with stewardship but not an immediate market-moving change.

The 38.33-share acquisition at $72.25 is a direct purchase of modest size and is explicitly recorded. More materially, the filing documents large indirect positions via two family limited partnerships: Jaytee Properties LP and Teebank Family LP, totaling 273,470.942 Class A shares combined when adding stated indirect holdings. The disclosure of dividend-equivalent rights and immediately convertible Class B stock increases the effective economic exposure. The reporting person disclaims beneficial ownership beyond pecuniary interest, which is typical for limited partners and trusts. Overall, this is primarily an ownership disclosure rather than a substantive change to corporate control or capital structure.

Corporate Governance Specialist

TL;DR: Filing documents standard Section 16 reporting for a director with family partnership holdings and a small direct acquisition.

The report clarifies relationships: the reporter is a director, a limited partner in Jaytee, and co-trustee/limited partner related to Teebank. Those relationships explain indirect holdings and the disclaimer of broader beneficial ownership. The presence of immediately convertible Class B shares and dividend-equivalent rights is noted but described as standard mechanics with conversion on a one-for-one basis. The signed Form 4 and attorney-in-fact signature indicate timely compliance. From a governance perspective, disclosures appear complete and routine.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Trager Kusman Andrew

(Last) (First) (Middle)

601 W MARKET ST

(Street)

LOUISVILLE KY 40202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
REPUBLIC BANCORP INC /KY/ [ RBCAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/30/2025		A		38.33	A	$72.25	1,566.81(1)	D
Class A Common Stock								10,867.721	I	By Jaytee Properties Limited Partnership(2)
Class A Common Stock								262,603.221	I	By Teebank Family Limited Partnership(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(4)							(5)	(6)	Class A Common Stock	2,435.108		2,435.108	I	By Jaytee Properties Limited Partnership(2)
Class B Common Stock	(4)							(5)	(6)	Class A Common Stock	64,275.609		64,275.609	I	By Teebank Family Limited Partnership(3)

Explanation of Responses:

1. Reflects additional dividend equivalent rights acquired since the date of the Reporting Person's last ownership report.

2. Jaytee Properties Limited Partnership ("Jaytee") is a family limited partnership. The Reporting Person is a Limited Partner of Jaytee.

3. Teebank Family Limited Partnership ("Teebank") is a family limited partnership. The Reporting Person is co-trustee of a trust for the benefit of the Reporting Person's immediate family members. The Reporting Person and the trust are Limited Partners of Teebank. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

4. Class B Common Stock is immediately convertible into Class A Common Stock on a one share for one share basis.

5. Immediate.

6. None.

	/s/ Kevin Sipes, Attorney-in-Fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did RBCAA director Andrew Trager Kusman report on Form 4?

The filing reports a direct acquisition of 38.33 Class A shares at $72.25 per share on 09/30/2025, and lists his direct and indirect holdings.

How many Republic Bancorp (RBCAA) shares are indirectly held by related partnerships?

The Form 4 reports 10,867.721 Class A shares held by Jaytee Properties LP and 262,603.221 Class A shares held by Teebank Family LP.

Are there convertible securities disclosed in the Form 4 for RBCAA?

Yes. The filing discloses Class B common stock that is immediately convertible one-for-one into Class A common stock, with Jaytee and Teebank holding underlying amounts of 2,435.108 and 64,275.609 Class A shares respectively.

What relationship does the reporting person have with Republic Bancorp (RBCAA)?

The reporter is listed as a Director of Republic Bancorp and files individually; he is also a limited partner or co-trustee related to the named family limited partnerships.

When was the Form 4 signed and by whom?

The Form 4 bears a signature by an attorney-in-fact, Kevin Sipes, dated 10/02/2025.