Republic Bancorp (RBCAA) Insider Trades: Montano Reports Mixed Transactions

Rhea-AI Filing Summary

Juan Montano, Executive Vice President and Chief Mortgage Banking Officer at Republic Bancorp Inc. (RBCAA), reported multiple transactions in Class A common stock and employee stock options. On 09/11/2025 he acquired 1,500 employee stock options with a $35.92 exercise price and 1,500 underlying shares indicated as newly acquired; this filing also records an acquisition of 1,500 non-derivative shares at $35.92 and a separate disposition of 700 shares at $77.07 on the same date.

The report also shows a sale on 09/03/2025 of 1,223.23 shares at $75.53 and lists additional outstanding employee options exercisable through 2031 (totaling 7,752 options across four grants). The filer holds both direct and indirect ownership (indirect via a 401(k) plan) and notes dividend equivalent additions and 401(k) value changes since the last report.

Positive

• Acquisition of 1,500 employee stock options at a $35.92 exercise price, increasing potential aligned ownership
• Direct purchase of 1,500 Class A shares at $35.92, increasing the reporting person’s direct stake
• Detailed disclosure of option maturities (exercisable through 2031) enhances transparency

Negative

• Sale of 700 shares at $77.07 reduced direct holdings on 09/11/2025
• Sale of 1,223.23 shares at $75.53 on 09/03/2025 reduced direct holdings earlier in the month

Insights

Securities Analyst

TL;DR: Insider activity shows both purchases and sales, plus multiple option grants, indicating routine compensation-related trading.

The Form 4 discloses mixed transactions: a purchase of 1,500 options and 1,500 shares at $35.92, a sale of 700 shares at $77.07, and a prior sale of 1,223.23 shares at $75.53. The filing also lists existing option grants exercisable through 2031 totaling 7,752 options. These entries are consistent with compensation vesting and plan activity rather than a single directional insider signal. Ownership is held directly and indirectly via a 401(k) plan; the filer noted dividend equivalents and 401(k) value changes since the prior report.

Corporate Governance Expert

TL;DR: Transactions appear to reflect standard executive compensation and plan movements, with clear disclosure of direct and indirect holdings.

The report cleanly itemizes each non-derivative and derivative transaction, including exercise prices and exercisable/expiration dates for options ($35.92 to $68.02, exercisable 2025–2028, expiring 2026–2031). The filer properly identifies role (EVP, Chief Mortgage Banking Officer) and indirect ownership via the 401(k) plan. Explanatory footnotes specify dividend equivalent accruals and 401(k) changes since the last report, supporting transparency in disclosure.

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
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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^*

Montano Juan

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CHIEF MTG BANKING OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

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	09/11/2025		M		1,500	A	$35.92	12,185.11(1)	D
Class A Common Stock	09/11/2025		F		700	D	$77.07	11,485.11	D
Class A Common Stock	09/03/2025		S		1,223.23	D	$75.53	4,433.88(2)	I	By 401(k) Plan

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
Employee Stock Option (right to buy)	$35.92	09/11/2025		M			1,500	03/10/2025	03/09/2026	Class A Common Stock	1,500	$0	0	D
Employee Stock Option (right to buy)	$42.74							12/31/2025	12/31/2026	Class A Common Stock	2,688		2,688	D
Employee Stock Option (right to buy)	$49.25							01/01/2027	01/01/2030	Class A Common Stock	2,242		2,242	D
Employee Stock Option (right to buy)	$68.02							01/01/2028	01/01/2031	Class A Common Stock	1,622		1,622	D

Explanation of Responses:

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

2. Reflects additions to and change in value of 401(k) plan since the date of the Reporting Person's last ownership report.

	/s/ Kevin Sipes, Attorney-in-Fact	09/15/2025
	** 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.
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FAQ

What transactions did Juan Montano report for RBCAA?

The filing reports a purchase of 1,500 options and 1,500 shares at $35.92 on 09/11/2025, a sale of 700 shares at $77.07 on 09/11/2025, and a sale of 1,223.23 shares at $75.53 on 09/03/2025.

What is Juan Montano's role at Republic Bancorp (RBCAA)?

He is identified as EVP, Chief Mortgage Banking Officer and a reporting person under Section 16.

How many employee stock options does the Form 4 show and what are their exercise prices?

The filing lists option grants totaling 7,752 options across four grants with exercise prices of $35.92, $42.74, $49.25, and $68.02.

Does the filing show indirect ownership?

Yes; the report discloses indirect ownership via a 401(k) plan and notes changes in 401(k) value since the last report.

Are there explanations for changes in reported holdings?

Yes; footnotes state additional dividend equivalent rights were acquired and there were additions/changes to the 401(k) plan since the last ownership report.