SEC Form 4 · accession 0001179110-18-012597
REPUBLIC BANCORP INC /KY/ · RBCAA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steve Trager
Officer — Chairman and CEO · Director · 10% Owner
Period of report
Nov 2, 2018
Accepted (ET)
Nov 6, 2018 · 3:14 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000921557
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF3,F4,F10,F2 | Nov 2, 2018 | S$0 | 0 | — | D | 5,728,204 | I | By Teebank Family Limited Partnership |
| Class A Common Stock | holding | — | — | — | 81,276 | D | ||
| Class A Common StockF9,F1 | holding | — | — | — | 482,754 | I | By Jaytee Properties Limited Partnership | |
| Class A Common Stock | holding | — | — | — | 225 | I | By Trager Marital Trust | |
| Class A Common StockF5 | holding | — | — | — | 7,478 | I | By spouse | |
| Class A Common Stock | holding | — | — | — | 12,085 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class B Common StockF3,F4,F12,F2,F6,F7,F8 | — | Nov 2, 2018 | S | 0 | D | — | — | Class A Common Stock | 0 | 751,056 | I |
| Class B Common StockF6,F7,F8 | — | holding | — | — | — | — | — | Class A Common Stock | 17,014 | 17,014 | D |
| Class B Common StockF11,F1,F6,F7,F8 | — | holding | — | — | — | — | — | Class A Common Stock | 108,169 | 108,169 | I |
| Class B Common StockF6,F7,F8 | — | holding | — | — | — | — | — | Class A Common Stock | 671,583 | 671,583 | I |
| Class B Common StockF6,F7,F8 | — | holding | — | — | — | — | — | Class A Common Stock | 1,215 | 1,215 | I |
Explanation of responses
- F1Jaytee Properties Limited Partnership ("Jaytee") is a family limited partnership. The Reporting Person is a co-General Partner of Jaytee. A trust (the "GP Trust") in which the Reporting Person and his mother are co-trustees is the other co-General Partner of Jaytee. The Reporting Person is trustee of multiple trusts (the "LP Trusts") for the benefit of the Reporting Person and certain of the Reporting Person's immediate family members. The LP Trusts are limited partners of Jaytee. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F10Reflects 627,410 Class A shares represented by Teebank limited partnership units held by LP Trust 4. Also reflects an additional 13,047.362 Class A shares resulting from the LP redemption.
- F11Reflects 21,074 Class B shares represented by Jaytee limited partnership units held by LP Trust 4. Also reflects an additional 246.166 Class B shares resulting from the LP Redemption.
- F12Reflects 82,263 Class B shares represented by Teebank limited partnership units held by LP Trust 4. Also reflects an additional 1,710.865 Class B shares resulting from the LP Redemption.
- F2Teebank Family Limited Partnership ("Teebank") is a family limited partnership. The Reporting Person and the GP Trust are co-General Partners of Teebank. The LP Trusts are limited partners of Teebank. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F3The Reporting Person is the sole trustee of an LP Trust ("LP Trust 1") the beneficiary of which is the Reporting Person's mother. The Reporting is also the sole trustee of two additional LP Trusts, the sole beneficiaries of which are the Reporting Person's two children ("LP Trust 2" and "LP Trust 3", respectively). Effective 11/02/2018, LP Trust 1 sold $1.0 million in Teebank interests to each of LP Trust 2 and LP Trust 3. Effective on that same date, LP Trust 1 sold an additional $3.0 million worth of Teebank interests to LP Trusts in which the Reporting Person does not have any pecuniary interest.
- F4The amounts of securities disclosed in Table I, Column 5 and Table II, Column 9 are the amounts beneficially owned before the transaction which is the subject of this report. As of the reporting date, Teebank will engage a valuation firm to conduct an appraisal of its limited partnership units. The Reporting Person expects to file an amendment to this report upon receipt of the appraisal to update the amounts of securities disclosed in Table I, Column 5 and Table II, Column 9, and to disclose the number and value of the issuer securities that were sold to the LP Trusts in which the Reporting Person does not have a pecuniary interest. The Reporting Person will continue to report his pecuniary interest in the shares represented by the Teebank interests sold to LP Trust 2 and LP Trust 3.
- F5The Reporting Person disclaims beneficial ownership of these securities and the report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.
- F6Class B Common Stock is immediately convertible into Class A Common Stock on a one share for one share basis.
- F7Immediate.
- F8None.
- F9Reflects the following amounts relating to events occurring since the Reporting Person's last required filing: (i) an additional 94,051 Class A shares represented by Jaytee limited partnership units held by an LP Trust ("LP Trust 4") for the benefit of the Reporting Person's sister for which the Reporting Person is now trustee, and (ii) an additional 1,099.421 Class A shares resulting from a redemption of a former limited partner's Jaytee and Teebank interests for cash (the "LP Redemption").