STOCK TITAN

Republic Bancorp Inc Ky Form 4 Filings

RBCAA NASDAQ

Every Form 4 that Republic Bancorp Inc Ky (RBCAA) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.

A Form 4 covers the transactions officers, directors and large holders report, so if you follow RBCAA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RBCAA filings page.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ EVP & Chief Financial Officer Kevin D. Sipes reported an equity award and updated holdings. He received a grant of 59.546 shares of Class A common stock at $90.43 per share, bringing his directly held Class A shares to 76,745.092.

The filing also updates indirect ownership of 3,979.509 Class A shares through a 401(k) plan and shows remaining employee stock options for 2,873, 3,244, and 4,484 underlying Class A shares at exercise prices of $71.36, $68.02, and $49.25, respectively. Footnotes note additional dividend equivalent rights and 44.620 shares acquired under the employee stock purchase plan.

Rhea-AI Summary

Republic Bancorp director Vidya Ravichandran reported a stock award that increased her direct holdings. She received 88.466 shares of Class A Common Stock as a grant or award valued at $90.43 per share. Following this compensation-related acquisition, her direct ownership rose to 3,797.535 shares.

Rhea-AI Summary

Republic Bancorp Inc. director David P. Feaster reported a small share-based award. On June 30, 2026, he acquired 16.587 shares of Class A Common Stock at a reference price of $90.43 per share through a grant classified as a “grant, award, or other acquisition.”

Following this award, Feaster directly owns 5,738.017 Class A shares. A footnote explains the change reflects additional dividend equivalent rights credited since his prior ownership report, indicating this is a routine compensation-related adjustment rather than an open-market trade.

Rhea-AI Summary

Green Jennifer N reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp, Inc. (RBCAA) director Jennifer N. Green received a grant of 127.170 shares of Class A Common Stock, valued at $90.43 per share. This was characterized as a grant or award rather than an open-market purchase and increased her direct holdings to 3,871.103 shares following the transaction.

Rhea-AI Summary

Howell Heather V reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp Inc. director Heather V. Howell reported a compensation-related stock award. On June 30, 2026, she received 71.879 shares of Class A Common Stock at a reported price of $90.43 per share as a grant or award, not an open-market purchase. Following this transaction, her direct holdings increased to 9,620.202 shares of Class A Common Stock.

Rhea-AI Summary

Cannon Yoania reported acquisition or exercise transactions in this Form 4 filing.

REPUBLIC BANCORP INC /KY/ director Yoania Cannon received a share award of 88.466 Class A Common Stock on a grant basis. The award was valued at $90.43 per share, reflecting compensation rather than an open-market purchase. Following this grant, Cannon directly holds a total of 2,802.165 Class A shares.

Rhea-AI Summary

Vogt Mark A reported acquisition or exercise transactions in this Form 4 filing.

REPUBLIC BANCORP INC /KY/ director Mark A. Vogt reported a compensation-related share award and updated holdings in Class A Common Stock. He received a grant of 320.6900 shares at $90.4300 per share and now directly holds 22,361.2340 shares.

The filing also reports 10,000.0000 shares held indirectly through a Delaware trust for the benefit of him and his family. As investment direction advisor, he has investment discretion over the trust’s shares but disclaims beneficial ownership of any portion in which he has no pecuniary interest.

Rhea-AI Summary

MARSHALL ERNEST W JR reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp Inc. director Ernest W. Marshall Jr. received a grant of Class A Common Stock as compensation. The award covered 199.049 shares at a price of $90.43 per share on June 30, 2026. Following this grant, his direct holdings increased to 9,187.938 Class A shares. This was an equity award, not an open-market purchase or sale, and reflects routine stock-based compensation for a board member.

Rhea-AI Summary

Republic Bancorp, Inc. director William Patrick Mulloy II reported a compensation-related acquisition of additional rights linked to the company’s Class A Common Stock. On June 30, 2026, he received 33.175 dividend equivalent rights at a reference value of $90.43 per share-equivalent. Following this award, his direct holdings in Class A Common Stock increased to 28,259.623 shares. The footnote clarifies that this entry reflects additional dividend equivalent rights since his prior ownership report, indicating a routine adjustment rather than an open-market purchase.

Rhea-AI Summary

Republic Bancorp, Inc. executive vice president and chief information officer Jeff Starke reported an equity compensation grant of 59.546 shares of Class A Common Stock at $90.4300 per share. After this award, his direct Class A holdings total 6,588.275 shares, with an additional 940.982 shares held indirectly through a 401(k) plan.

He also holds employee stock options on Class A Common Stock with exercise prices of $71.3600, $68.0200, $49.2500, and $42.7400, expiring between 2026-12-31 and 2032-01-01. Footnotes note additional dividend equivalent rights and 3.187 shares acquired under an employee stock purchase plan.

Rhea-AI Summary

Republic Bancorp Inc. director and Republic Bank President & CEO Logan Pichel reported a stock award on Class A Common Stock. He received 74.431 shares at $90.43 per share, increasing his direct holdings to 64,346.581 shares, with an additional 1,785.576 shares held indirectly through a 401(k) plan.

The filing also shows outstanding employee stock options over 12,978 shares at an exercise price of $68.02 expiring on January 1, 2031, 17,937 shares at $49.25 expiring on January 1, 2030, and 16,903 shares at $71.36 expiring on January 1, 2032. Footnotes note additional dividend equivalent rights, purchases under an employee stock purchase plan, and changes in the 401(k) plan balance since the prior report.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ executive Anthony T. Powell reported an equity award and updated holdings. On June 30, Powell received a grant of 59.546 shares of Class A Common Stock at $90.43 per share, bringing his directly held common stock to 24,794.808 shares. A footnote states that this amount includes 44.620 shares acquired under the company’s employee stock purchase plan on the same date. Powell also holds 24,006.464 shares indirectly through a 401(k) plan. In addition, he has several employee stock options for Class A Common Stock, covering 2,028, 3,244, 4,484 and 5,376 underlying shares with exercise prices between $42.74 and $71.36 and expirations from late 2026 through 2032.

Rhea-AI Summary

Republic Bancorp executive Cheryl VanAllen, EVP & Chief People Officer, reported a compensation-related stock grant of 59.546 shares of Class A Common Stock at $90.43 per share. After this award, she holds 2,284.449 shares directly.

She also holds employee stock options for 1,352 shares at an exercise price of $71.36 expiring on January 1, 2032, and 1,622 shares at $68.02 expiring on January 1, 2031. A footnote explains the entries reflect additional dividend equivalent rights since her last ownership report.

Rhea-AI Summary

Republic Bancorp EVP and General Counsel Christy Ames reported an equity award and updated option holdings. On the reported date, Ames received a grant of 59.546 shares of Class A Common Stock at a reported price of $90.4300 per share, bringing direct holdings to 6,204.177 shares.

The filing also lists outstanding employee stock options over 1,352 underlying shares at an exercise price of $71.3600 expiring on January 1, 2032, 1,622 underlying shares at $68.0200 expiring on January 1, 2031, and 2,242 underlying shares at $49.2500 expiring on January 1, 2030, all for Class A Common Stock held directly.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ senior vice president Scott Nardi reported a compensation-related stock grant. On 2026-06-30, he acquired 58.056 shares of Class A Common Stock as a grant at $90.4300 per share, increasing his direct holdings to 2,274.928 shares.

The filing also shows an existing Employee Stock Option to buy 1,352 shares of Class A Common Stock at an exercise price of $71.3600, expiring on 2032-01-01. A footnote states this reflects additional dividend equivalent rights acquired since his last ownership report.

Rhea-AI Summary

Republic Bancorp Inc. executive Juan Montano reported an acquisition of Class A Common Stock through a stock award. On 2026-06-30, he received 59.546 shares at $90.4300 per share as a grant or other acquisition, bringing his direct holdings to 13,593.862 shares of Class A Common Stock.

He also had 4,665.613 shares held indirectly through a 401(k) plan as of the same date, reflecting additions and value changes since his prior ownership report. In addition, Montano held employee stock options to acquire 1,352, 1,622 and 2,242 shares of Class A Common Stock at exercise prices of $71.3600, $68.0200 and $49.2500, respectively, with expirations between 2030 and 2032.

Rhea-AI Summary

Republic Bancorp (RBCAA) president William R. Nelson reported a small equity award and updated option holdings. He received 59.546 shares of Class A Common Stock as a grant at an indicated price of $90.4300 per share, bringing his direct holdings to 34,205.942 shares. The filing also lists outstanding employee stock options to acquire additional Class A shares at exercise prices of $49.2500, $68.0200, and $71.3600 with expirations between 2030 and 2032. A footnote explains the entry reflects added dividend equivalent rights since his prior ownership report.

Rhea-AI Summary

Republic Bancorp Inc. executive Anthony T. Powell reported selling 3,000 shares of Class A Common Stock on June 10, 2026 at $83.5377 per share in an open-market transaction. After the sale, he directly holds 24,690.642 Class A shares and indirectly holds 24,006.464 shares through a 401(k) plan.

The filing also shows several employee stock options to buy Class A shares, with exercise prices ranging from $42.74 to $71.36 and expirations between 2030 and 2032. Footnotes indicate the 401(k) and related amounts reflect additions, changes in value, and dividend equivalent rights since his last ownership report.

Rhea-AI Summary

Republic Bancorp Inc. executive Christy Ames reported an open-market sale of Class A Common Stock. On June 11, 2026, Ames sold 340 shares at $87.90 per share and now directly holds 6,144.631 Class A shares.

Ames also holds employee stock options over 1,352 shares at an exercise price of $71.36 expiring on January 1, 2032, 1,622 shares at $68.02 expiring on January 1, 2031, and 2,242 shares at $49.25 expiring on January 1, 2030, each relating to Class A Common Stock.

Rhea-AI Summary

Vogt Mark A reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp Inc. director Mark A. Vogt reported a compensation-related award of 510 shares of Class A Common Stock, recorded at $0.00 per share. After this award, he directly holds 22,040.544 shares of Republic Bancorp Class A stock.

The filing also reports 10,000 Class A shares held indirectly through a Delaware Trust for the benefit of Vogt and his family. As Investment Direction Advisor, he has investment discretion over these trust shares but disclaims beneficial ownership of shares in which he has no pecuniary interest.

Rhea-AI Summary

Republic Bancorp Inc. director Alejandro M. Sanchez reported a grant of 510 shares of Class A Common Stock. The shares were acquired at a reported price of $0.00 per share as a grant or award, bringing his directly held position in the stock to 510 shares after the transaction.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ director Vidya Ravichandran reported an acquisition of 510 shares of Class A Common Stock. The Form 4 shows these were granted at $0.0000 per share as a "Grant, award, or other acquisition," rather than a market purchase or sale.

Following this grant, Ravichandran directly holds 3,709.069 Class A Common shares. A footnote explains the change reflects additional dividend equivalent rights accumulated since the last ownership report, indicating a routine, compensation-related adjustment instead of an open-market trade.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ director William Kennett Oyler II received an award of 510 shares of Class A Common Stock. The shares were granted at a price of $0.00 per share as a compensation-related grant, not an open-market purchase or sale.

Following this grant, Oyler directly holds a total of 4,348.557 shares of Class A Common Stock. A footnote explains that the transaction reflects additional dividend equivalent rights acquired since his last ownership report, indicating a routine, incremental increase in his equity-based holdings.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ director Ernest W. Marshall Jr. received an award of 510 shares of Class A Common Stock. The shares were granted at a price of $0.0000 per share, indicating a compensation-related grant rather than an open-market purchase. Following this award, his direct holdings increased to 8,988.889 shares of Class A Common Stock. Footnotes note small additional amounts acquired through the company’s dividend reinvestment plan and related dividend equivalent rights since his prior ownership report.

Rhea-AI Summary

Republic Bancorp Inc. director Timothy S. Huval acquired 510 shares of Class A Common Stock on May 20, 2026 as a grant or award at no cash cost per share. This increased his directly held stake to 2,872.935 shares. A footnote explains the transaction reflects additional dividend equivalent rights accumulated since his last ownership report, indicating this is a routine, compensation-related adjustment rather than an open-market purchase.

Rhea-AI Summary

Republic Bancorp, Inc. director Heather V. Howell reported receiving an additional equity-based award in the form of 510 shares of Class A Common Stock on May 20, 2026. The shares were acquired at a price of $0.00 per share as a grant, award, or other acquisition, rather than through an open-market purchase. Following this transaction, Howell directly holds a total of 9,548.323 shares of Class A Common Stock. A footnote explains that this reflects additional dividend equivalent rights accumulated since her last ownership report.

Rhea-AI Summary

Republic Bancorp, Inc. (RBCAA) director Jennifer N. Green reported an acquisition of 510 shares of Class A Common Stock, recorded at a price of $0.00 per share. The filing notes these represent additional dividend equivalent rights credited since her last ownership report.

Following this award, Green directly holds 3,743.933 Class A shares. This is a compensation-related grant, not an open‑market purchase, and does not reflect a discretionary buy or sell decision in the market.

Rhea-AI Summary

Republic Bancorp Inc. director Yoania Cannon reported an equity award on Class A Common Stock. On May 20, 2026, Cannon acquired 510 shares at no cost, described as a grant, award, or other acquisition. This increased Cannon’s direct holdings to 2,713.699 shares of Class A Common Stock. A footnote explains the change reflects additional dividend equivalent rights accumulated since Cannon’s prior ownership report, indicating a routine, compensation-related adjustment rather than an open-market purchase or sale.

Rhea-AI Summary

Republic Bancorp director Andrew Trager Kusman reported several family-related stock gifts in Republic Bancorp Inc. shares. On May 8, 2026, entities associated with him made bona fide gifts totaling 116,152.876 shares of Class A and Class B Common Stock at a stated price of $0.0000 per share.

The gifts were made indirectly through Teebank Family Limited Partnership and Jaytee Properties Limited Partnership, where he is a limited partner or related trust co-trustee, and he disclaims beneficial ownership beyond his pecuniary interest. Class B Common Stock is immediately convertible into Class A on a one-for-one basis. After these transactions, he continues to hold shares both directly and indirectly, indicating these are non-market, estate- and family-planning transfers rather than open-market sales.

Rhea-AI Summary

Republic Bancorp EVP and General Counsel Christy Ames reported routine equity compensation activity involving stock options and common shares of Class A Common Stock.

Ames exercised options to acquire 2,688 shares of Class A Common Stock at an effective exercise price of $42.74 per share. To cover tax obligations, 1,859 shares of Class A Common Stock were disposed of in a tax-withholding transaction at $72.46 per share. After these transactions, Ames directly holds 8,343.631 shares of Class A Common Stock.

Ames also continues to hold employee stock options on Class A Common Stock, including options over 1,352 shares at an exercise price of $71.36 expiring on January 1, 2032, 1,622 shares at $68.02 expiring on January 1, 2031, and 2,242 shares at $49.25 expiring on January 1, 2030. A footnote indicates these figures reflect additional dividend equivalent rights acquired since Ames’s last ownership report.

Rhea-AI Summary

Republic Bancorp EVP & Chief Financial Officer Kevin D. Sipes exercised employee stock options covering 5,376 shares of Class A Common Stock at an exercise price of $42.74 per share. To cover tax obligations, 4,130 of these shares were withheld at a value of $74.57 per share, leaving him with 76,593.281 shares held directly plus additional shares held through a 401(k) plan. He also continues to hold several remaining option grants that can be exercised in future years.

Rhea-AI Summary

Republic Bancorp, Inc. director and bank President & CEO Logan Pichel reported a compensation-related share award. He acquired 81.775 shares of Class A Common Stock on March 31, 2026 as a grant or other award at an indicated value of $70.55 per share, bringing his directly held shares to 64,194.597. Footnotes note that this total includes 49.025 shares acquired under the employee stock purchase plan on the same date and adjustments from an equity plan administrator transfer. He also reports indirect ownership of 1,773.964 shares through a 401(k) plan and continues to hold employee stock options over 17,937, 12,978 and 16,903 underlying Class A shares with exercise prices between $49.25 and $71.36 and expiration dates from 2030 to 2032.

Rhea-AI Summary

Starke Jeff reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp EVP and CIO Jeff Starke reported a stock award and updated equity holdings. He received 65.422 shares of Class A Common Stock as a grant at $70.55 per share on March 31, 2026, bringing his direct holdings to 6,516.455 shares. His indirect holdings through a 401(k) plan total 922.044 shares.

Starke also reports outstanding employee stock options on Class A Common Stock, including options exercisable at $42.74, $49.25, $68.02 and $71.36 per share, covering 6,720, 5,605, 4,055 and 2,873 underlying shares, respectively, with expirations between December 31, 2026 and January 1, 2032.

Rhea-AI Summary

Republic Bancorp, Inc. SVP Scott Nardi reported an equity award of Class A Common Stock. On March 31, 2026, he received 63.785 shares of Class A Common Stock as a grant at a reference price of $70.55 per share, bringing his direct holdings to 2,210.336 shares.

He also has outstanding employee stock options covering 1,352 shares of Class A Common Stock with an exercise price of $71.36 per share and an expiration date in 2032. The filing reflects routine compensation-related equity, not open‑market buying or selling.

Rhea-AI Summary

Republic Bancorp (RBCAA) executive William R. Nelson received a stock award and holds multiple stock options. On March 31, 2026, he acquired 65.422 shares of Class A Common Stock as a grant at an indicated value of $70.55 per share, bringing his direct holdings to 34,133.065 shares. He also holds employee stock options for 4,484 shares at $49.25 per share expiring in 2030, 3,244 shares at $68.02 expiring in 2031, and 2,028 shares at $71.36 expiring in 2032, each option representing the right to buy Class A Common Stock.

Rhea-AI Summary

Republic Bancorp executive Cheryl VanAllen, EVP & Chief People Officer, received a grant of 65.422 shares of Class A Common Stock at a reported price of $70.55 per share. After this award, she holds 2,222.998 Class A shares directly.

She also holds employee stock options covering 1,622 Class A shares at an exercise price of $68.02 per share, exercisable beginning in 2028, and options on 1,352 shares at $71.36 per share, exercisable beginning in 2029, both expiring in the early 2030s.

Rhea-AI Summary

Republic Bancorp EVP and General Counsel Christy Ames received a grant of 65.422 shares of Class A Common Stock on March 31, 2026 at a reference price of $70.55 per share, bringing her direct holdings to 5,628.501 shares.

She also holds employee stock options over 2,688, 2,242, 1,622 and 1,352 underlying Class A shares with exercise prices between $42.74 and $71.36, expiring between 2026 and 2032.

Rhea-AI Summary

Republic Bancorp Inc. executive Juan Montano received a stock grant of 65.422 shares of Class A Common Stock at $70.55 per share. This award increased his directly held common shares to 13,486.749. He also holds indirect shares through a 401(k) plan and multiple employee stock options that allow future purchases at preset exercise prices through 2032.

Rhea-AI Summary

Republic Bancorp, Inc. EVP and Chief Lending Officer Anthony T. Powell received a grant of 65.422 shares of Class A Common Stock at $70.55 per share. After this award, he directly holds 27,642.996 Class A shares.

Powell also has indirect ownership of 23,845.964 Class A shares through a 401(k) plan. In addition, he holds employee stock options on 5,376, 4,484, 3,244 and 2,028 underlying Class A shares at exercise prices ranging from $42.74 to $71.36, with expiration dates extending through 2032.

Rhea-AI Summary

Republic Bancorp, Inc. EVP & CFO Kevin D. Sipes reported a compensation-related acquisition of 65.422 shares of Class A Common Stock on March 31, 2026 at $70.55 per share. A footnote states this amount includes 49.025 shares acquired under the issuer's employee stock purchase plan on the same date.

Following the award, he directly owns 75,347.281 Class A shares and indirectly holds 3,979.509 Class A shares through a 401(k) plan. He also retains multiple employee stock options on Class A Common Stock with exercise prices between $42.74 and $71.36, expiring from 2026 through 2032.

Rhea-AI Summary

Republic Bancorp, Inc. (RBCAA) director Heather V. Howell reported a compensation-related share acquisition. On the reported date, she received a grant of 141.743 shares of Class A Common Stock at a reference price of $70.55 per share, reflecting additional dividend equivalent rights. Following this award, her direct holdings increased to 8,989.93 Class A shares.

Rhea-AI Summary

Republic Bancorp Inc. director Jennifer N. Green reported an acquisition of Class A Common Stock through a grant or award. On March 31, 2026, she received 92.133 shares at a reported price of $70.55 per share, reflecting additional dividend equivalent rights since her last ownership report.

Following this non-market, compensation-related acquisition, Green directly holds 3,221.82 Class A shares of Republic Bancorp Inc. This filing records routine equity-based compensation rather than an open-market purchase or sale.

Rhea-AI Summary

Republic Bancorp Inc. director David P. Feaster reported a compensation-related share acquisition. On this Form 4, he acquired 184.266 shares of Class A Common Stock at $70.55 per share as a grant or award, rather than an open-market purchase. A footnote explains this reflects additional dividend equivalent rights acquired since his last ownership report. Following the transaction, he directly holds a total of 5,707.464 Class A Common shares.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ director Cannon Yoania acquired additional equity through a compensation-related award. On this Form 4, the director received 184.266 shares of Class A Common Stock at a reference price of $70.55 per share and now directly holds 2,190.540 shares. A footnote states the increase reflects additional dividend equivalent rights since the prior ownership report.

Rhea-AI Summary

Vogt Mark A reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp director Mark A. Vogt reported an equity award of 226.79 shares of Class A Common Stock at $70.55 per share. After this grant, he holds 21,470.193 shares directly. He also has investment discretion over 10,000 shares held by a Delaware trust for his family, while disclaiming beneficial ownership where he has no pecuniary interest.

Rhea-AI Summary

REPUBLIC BANCORP INC /KY/ director MARSHALL ERNEST W JR received a grant of 133.948 shares of Class A Common Stock at $70.55 per share. After this award, his direct holdings total 8,424.497 shares. This total includes 1.196 shares acquired through the company’s dividend reinvestment plan and additional dividend equivalent rights accumulated since his last ownership report.

Rhea-AI Summary

Mulloy William Patrick II reported acquisition or exercise transactions in this Form 4 filing.

Republic Bancorp director William Patrick Mulloy II reported a compensation-related share award of 148.831 shares of Class A Common Stock at $70.55 per share. The award reflects additional dividend equivalent rights. After this grant, he directly holds a total of 28,151.893 shares.

Rhea-AI Summary

Republic Bancorp director Vidya Ravichandran reported an acquisition of 184.266 shares of Class A Common Stock on a grant/award basis at $70.55 per share. The filing notes these represent additional dividend equivalent rights, bringing Ravichandran’s direct holdings to 3,185.210 shares.

Rhea-AI Summary

Republic Bancorp Inc. executive vice president and chief mortgage banking officer Juan Montano reported an options exercise and related share movements. He exercised employee stock options for 2,688 shares of Class A common stock at an exercise price of $42.7400 per share, increasing his direct holdings.

To cover tax obligations tied to this compensation event, 1,951 shares of Class A common stock were disposed of at $68.5200 per share through share withholding, leaving Montano with 13,421.327 Class A shares held directly after the transactions. He also holds 4,608.986 Class A shares indirectly through a 401(k) plan, with footnotes noting both corrections to prior dividend equivalent unit reporting and changes in 401(k) plan value.

Following the exercise, Montano retains unexercised employee stock options over 2,242 underlying Class A shares at an exercise price of $49.2500 expiring on January 1, 2030, and options over 1,622 underlying shares at $68.0200 expiring on January 1, 2031.

Rhea-AI Summary

Republic Bancorp Inc. director Alejandro M. Sanchez reported an open-market sale of Class A Common Stock. On February 26, 2026, he sold 1,044 shares at $71.04 per share. After this transaction, he reported owning 0 shares of the company’s Class A Common Stock directly.