Montano Juan 4

What Happened Juan Montano, EVP & Chief Mortgage Banking Officer of Republic Bancorp (RBCAA), exercised stock options to acquire 2,688 shares on 2026-03-13. The exercise required payment of $42.74 per share (total $114,885). To cover tax withholding, 1,951 of those shares were surrendered/withheld at $68.52 each (value $133,683). After withholding, Montano retained a net 737 shares from the exercise.

Key Details

• Transaction date: 2026-03-13; Form 4 filed 2026-03-16 (appears timely).
• Option exercise: 2,688 shares exercised at $42.74/share = $114,885 (code M).
• Tax/payment withholding: 1,951 shares withheld/disposed at $68.52/share = $133,683 (code F).
• Net shares retained: 2,688 − 1,951 = 737 shares.
• Footnotes: F1 corrects previously reported dividend equivalent unit count; F2 reflects additions/changes in a 401(k) plan since last report.
• "M" indicates option exercise; "F" indicates shares surrendered to satisfy tax/expense obligations (common for option exercises).

Context This was an exercise of vested options with partial net-share settlement (some shares kept, others withheld for taxes). Exercising options is not a market sale signal by itself — the withholding of shares is a routine tax-related disposition rather than an open-market sale. The filing shows the mechanics and net ownership change (net +737 shares) but does not, in itself, indicate Montano's view of the company's future.