4//SEC Filing
TRAGER STEVE 4
Accession 0001179110-20-009071
CIK 0000921557other
Filed
Aug 16, 8:00 PM ET
Accepted
Aug 17, 3:14 PM ET
Size
27.0 KB
Accession
0001179110-20-009071
Insider Transaction Report
Form 4
TRAGER STEVE
DirectorPresident and CEO10% Owner
Transactions
- Sale
Class A Common Stock
2020-08-15$32.31/sh−0$0→ 482,753.998 total(indirect: By Partnership) - Sale
Class A Common Stock
2020-08-14$32.31/sh−225$7,270→ 0 total(indirect: By Trust) - Sale
Class A Common Stock
2020-08-15$32.31/sh−0$0→ 5,448,168.641 total(indirect: By Partnership) - Gift
Class B Common Stock
2020-08-13+142,764→ 814,347 total(indirect: By Trust)→ Class A Common Stock (142,764 underlying) - Sale
Class B Common Stock
2020-08-14$32.31/sh−814,347$26,311,552→ 0 total(indirect: By Trust)→ Class A Common Stock (814,347 underlying) - Sale
Class B Common Stock
2020-08-15$32.31/sh−0$0→ 108,169.715 total(indirect: By Partnership)→ Class A Common Stock (0 underlying) - Sale
Class B Common Stock
2020-08-15$32.31/sh−0$0→ 714,339.17 total(indirect: By Partnership)→ Class A Common Stock (0 underlying)
Holdings
- 81,276
Class A Common Stock
- 7,478(indirect: By Spouse)
Class A Common Stock
- 1,214.5(indirect: By 401(k))
Class B Common Stock
→ Class A Common Stock (1,214.5 underlying) - 12,085(indirect: By 401(k))
Class A Common Stock
- 17,014
Class B Common Stock
→ Class A Common Stock (17,014 underlying)
Footnotes (11)
- [F1]Jaytee Properties Limited Partnership ("Jaytee") is a family limited partnership. A trust ("GP Trust 1") in which the Reporting Person is a trustee is a co-General Partner of Jaytee. A trust ("GP Trust 2") in which the Reporting Person and his mother are co-trustees is the other co-General Partner of Jaytee. The Reporting Person is also the 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.
- [F10]Immediate.
- [F11]None.
- [F2]Teebank Family Limited Partnership ("Teebank") is a family limited partnership. GP Trust 1 and GP Trust 2 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.
- [F3]The Reporting Person is the sole trustee of two LP Trusts ("LP Trust 1" and "LP Trust 2," respectively) the beneficiary of which is the Reporting Person's mother. The Reporting Person is also the sole trustee of two additional LP Trusts, the sole beneficiaries of which are the Reporting Person's two children ("LP Trust 3" and "LP Trust 4," respectively). On 08/13/2020, LP Trust 1 dissolved and all of its assets were transferred to LP Trust 2 for no consideration. The transferred assets included: 225 shares of Issuer Class A Common Stock, 671,583 shares of Issuer Class B Common Stock, 76,031 Jaytee LP Units and 293,541 Teebank LP Units. The Reporting Person previously reported the shares of Issuer stock held by LP Trust 1 as indirectly owned "By Trager Marital Trust". The Reporting Person continues to report indirect beneficial ownership of the shares of Issuer stock underlying LP Units through Teebank and Jaytee.
- [F4]On 08/13/2020, the Reporting Person's mother gifted 142,764 shares of Issuer Class B Common Stock to LP Trust 2.
- [F5]On 08/14/2020, LP Trust 2 transferred 225 shares of Issuer Class A Common Stock and 814,347 shares of Issuer Class B Common Stock to Teebank in consideration for one (1) Teebank GP Unit and a number of Teebank LP Units equal in value to the aggregate value of the shares of Issuer Class A Common Stock and Class B Common Stock that Teebank received.
- [F6]On 08/15/2020, in exchange for promissory notes from each transferee trust, LP Trust 2 sold all of its Teebank LP Units and all of its Jaytee LP Units in five equal portions to each of LP Trust 3, LP Trust 4 and three other LP Trusts in which the Reporting Person does not have a pecuniary interest. The number and value of Teebank LP Units and Jaytee LP Units (and the face value of the promissory notes) will be determined following an appraisal of the value of Teebank and Jaytee.
- [F7]The numbers of shares disclosed in Table I, Column 5 and Table II, Column 9 are the amounts beneficially owned before the transactions which are the subject of this report. As of the reporting date, Teebank and Jaytee have engaged a valuation firm to conduct an appraisal of their respective LP units. The appraised value of Teebank and Jaytee will be partially determined using the 08/14/2020 closing price of shares of Issuer Class A Common Stock. Upon receipt of the appraisal, the Reporting Person expects to file an amendment to this report to update the numbers of shares disclosed in Table I and Table II and to disclose the number of Issuer securities that were sold to LP Trusts 3 and 4, and to the 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 and Jaytee LP Units sold to LP Trusts 3 and 4.
- [F8]The 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.
- [F9]Class B Common Stock is immediately convertible into Class A Common Stock on a one share for one share basis.
Documents
Issuer
REPUBLIC BANCORP INC /KY/
CIK 0000921557
Entity typeother
Related Parties
1- filerCIK 0001078587
Filing Metadata
- Form type
- 4
- Filed
- Aug 16, 8:00 PM ET
- Accepted
- Aug 17, 3:14 PM ET
- Size
- 27.0 KB