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style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_c32bed12_eee0_474f_8cbc_db09605da62e"></a><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Washington, D.C. 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">FORM </b><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" name="dei:DocumentType" id="Narr_WaIa9NTWskKKU5WzDARozg"><b style="font-weight:bold;">8-K</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Date of Report (date of earliest event reported): <ix:nonNumeric 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style="vertical-align:bottom;width:65.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" name="dei:EntityAddressAddressLine1" id="Narr_uRI8fZIhAk6RvHp6WcKlAA"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">601 West Market Street</span></ix:nonNumeric><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">, </span><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" name="dei:EntityAddressCityOrTown" id="Narr_RCSHWs3bKUC6la61RGQMbg"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Louisville</span></ix:nonNumeric><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">, </span><ix:nonNumeric 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Roman','Times','serif';font-size:11pt;margin:0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="Narr_loIzUTXz-EOK2fbrqMyOLA"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';"> </span>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial" id="Narr_zPJaHfcksUSnpFJIs7_lQg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';"> </span>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" id="Narr_uAPSdtYNN0207Yo0oI46bg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';"> </span><span style="white-space:pre-wrap;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR    240.14d-2(b))</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="Narr_QAkqUS1slE-9TQIvaGr_cw"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';"> </span>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Securities registered pursuant to Section 12(b) of the Act:</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span 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style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:32.66%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr style="height:1pt;"><td style="vertical-align:top;width:33.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div 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style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:33.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Title of each class</p></td><td style="vertical-align:bottom;width:33.67%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:center;margin:0pt;">Trading Symbol</p></td><td style="vertical-align:bottom;width:32.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid 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Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" name="dei:TradingSymbol" id="Tc_dT5qK4gOakin7ms9zba3Lg_3_1"><span style="font-size:9pt;">RBCAA</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:32.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="Tc_hE4XAWVUFUyZE0zUz01elA_3_2"><span style="font-size:9pt;">The Nasdaq Stock Market</span></ix:nonNumeric></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_1_17_2023_To_1_17_2023_j6yLGxT-C02BPIAozQsiMg" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_UVzJTCovh0mtANct_Iwh1Q"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;background:#ffff00;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_af0d585e_a6c1_4b83_9047_51dd0f854691"></a><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><b style="color:#212529;font-weight:bold;">Item 5.02. &#160;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;">&#160;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;font-style:italic;font-weight:bold;">Grants of Long-Term Incentive Equity Awards</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;">&#160;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;white-space:pre-wrap;">On January 17, 2023, the Compensation Committee (the &#8220;Committee&#8221;) of Republic Bancorp, Inc. (the &#8220;Company&#8221; or &#8220;Republic&#8221;) awarded shares of restricted stock (the &#8220;Restricted Shares&#8221;), performance share units (&#8220;PSUs&#8221;), and nonqualified stock options (&#8220;NQSOs&#8221;) (collectively the &#8220;Equity Awards&#8221;) to certain executive officers, including Logan Pichel, Chief Executive Officer and President of Republic Bank &amp; Trust Company (the &#8220;Bank&#8221;); Kevin Sipes, Executive Vice President and Chief Financial Officer; and William (Bill) Nelson, President of the Republic Processing Group.     </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;">Mr. Pichel was granted the following:</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:11pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><span style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">  4,757 Restricted Shares, vesting December 31, 2025; </span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:11pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><span style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">  4,757 PSUs; and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:11pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><span style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">21,505 NQSOs, that are exercisable between December 31, 2025 and December 31, 2026.  </span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;">Mr. Sipes and Mr. Nelson were each granted the following: </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:11pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><span style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> 1,189 PSUs; and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:11pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;background:#ffffff;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><span style="color:#212529;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">5,376 NQSOs, that are exercisable between December 31, 2025 and December 31, 2026.  </span></td></tr></table><div style="margin-top:8pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;white-space:pre-wrap;">The awarded PSUs will be settled in early 2024 by issuance of Restricted Shares (shares generally subject to forfeiture if employment ends before December 31, 2025) based on the Company&#8217;s achievement of certain return on average assets (&#8220;ROAA&#8221;) percentages and efficiency ratios. In addition, in order to receive a payout for either the ROAA percentages or efficiency ratios, the Company must maintain its ranking as calculated as of September 30, 2022 for that particular category among a group of selected peers.  All shares of stock issued under the PSUs or as Restricted Stock must be held by the officer for a period of two years after the vesting date.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;">This summary of the Equity Awards is qualified in its entirety by reference to the text of the Equity Award agreements, the forms of which were filed as Exhibits to the Company&#8217;s Current Report on Form 8-K dated January 27, 2021 and are incorporated herein by reference.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;font-style:italic;font-weight:bold;">Approval of Discretionary 2022 Bonuses </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;">&#160;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;white-space:pre-wrap;">On January 17, 2023, the Committee approved discretionary bonus payouts related to the 2022 calendar year for certain Named Executive Officers including Juan Montano, Executive Vice President &amp; Chief Mortgage Banking Officer, as well as Messrs. Trager, Pichel, and Sipes.  </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;white-space:pre-wrap;">As previously described in the Company&#8217;s discussion and analysis of compensation in its annual proxy solicitation materials, Messrs. Trager, Pichel, and Sipes participate in the Company&#8217;s Bonus Incentive Compensation Program.  The Bonus Incentive Compensation Program&#8217;s incentive compensation goals are tied to the overall performance of the total company (&#8220;Total Company&#8221;) as measured through the Total Company&#8217;s gross operating profit (&#8220;Total Company GOP&#8221;).  The discretionary bonuses set forth in the table below are in addition to bonus incentive compensation awards payable under the Bonus Incentive Compensation Program as described in the proxy solicitation materials.  Additionally, these discretionary bonuses are in-line with the discretionary bonuses approved for, in general, all other Company associates whose goals were tied to the Total Company GOP for 2022.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:24pt 0pt 0pt 0pt;">2</p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;white-space:pre-wrap;">Also as previously described in the Company&#8217;s discussion and analysis of compensation in its annual proxy solicitation materials, Mr. Montano&#8217;s bonus incentive compensation goals are tied to the overall performance of the Warehouse Lending division and Company-wide mortgage origination volume.  The discretionary bonus set forth in the table below for Mr. Montano is in addition to the bonus incentive compensation award payable related to the Warehouse Lending division and mortgage origination results as described in the proxy solicitation materials.  </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">The discretionary bonus amounts for 2022 for these officers were as follows:</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;background:#ffffff;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><a id="_Hlk124527076"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:73.6%;"><tr style="height:1pt;"><td style="vertical-align:top;width:27.52%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:50.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:21.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-color:#212529;text-decoration-line:underline;text-decoration-style:solid;">Payout</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:27.52%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-color:#212529;text-decoration-line:underline;text-decoration-style:solid;">Executive Officer</span></p></td><td style="vertical-align:top;width:50.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;text-decoration-color:#212529;text-decoration-line:underline;text-decoration-style:solid;">Position</span></p></td><td style="vertical-align:top;width:21.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;">Discretionary</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;"> </span><span style="color:#212529;text-decoration-color:#212529;text-decoration-line:underline;text-decoration-style:solid;">Payout</span></p></td></tr><tr><td style="vertical-align:top;width:27.52%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Steve Trager</span></p></td><td style="vertical-align:top;width:50.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Executive Chair &amp; CEO</span></p></td><td style="vertical-align:top;width:21.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;">$40,000</span></p></td></tr><tr><td style="vertical-align:top;width:27.52%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Logan Pichel</span></p></td><td style="vertical-align:top;width:50.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">CEO of the Bank</span></p></td><td style="vertical-align:top;width:21.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;">$50,000</span></p></td></tr><tr><td style="vertical-align:top;width:27.52%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Kevin Sipes</span></p></td><td style="vertical-align:top;width:50.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Executive Vice President &amp; CFO</span></p></td><td style="vertical-align:top;width:21.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;">$17,500</span></p></td></tr><tr><td style="vertical-align:top;width:27.52%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Juan Montano</span></p></td><td style="vertical-align:top;width:50.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="color:#212529;">Executive Vice President &amp; CMBO</span></p></td><td style="vertical-align:top;width:21.97%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:0pt;"><span style="color:#212529;">$50,000</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:24pt 0pt 0pt 0pt;">3</p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_47b6aae7_0f67_4ee8_af12_0387040a0eda"></a><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:46.07%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><span style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Republic Bancorp, Inc.</span></p></td></tr><tr><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;">(Registrant)</span></p></td></tr><tr><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;">Date:</span><span style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> January 20, 2023</span></p></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;">By:</span></p></td><td style="vertical-align:top;width:46.07%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;">/s/ Kevin Sipes</span></p></td></tr><tr><td style="vertical-align:top;width:49.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:4.81%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:46.07%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:12pt;">Executive Vice President, Chief Financial Officer &amp; Chief Accounting Officer</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:center;margin:24pt 0pt 0pt 0pt;">4</p></div></div>
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{"company-data": {"conformed-name": "REPUBLIC BANCORP INC /KY/", "cik": "0000921557", "assigned-sic": "6022", "irs-number": "610862051", "state-of-incorporation": "KY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24649", "film-number": "23541670"}, "business-address": {"street1": "REPUBLIC CORPORATE CENTER", "street2": "601 WEST MARKET ST", "city": "LOUISVILLE", "state": "KY", "zip": "40202", "phone": "5025843600"}, "mail-address": {"street1": "601 W MARKET ST", "city": "LOUISVILLE", "state": "KY", "zip": "40202"}}
RBCAA Reports an __% Increase In Core earning and announces a stock repurchase program
​
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
​
FORM
8-K
​
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
January 17, 2023
​
REPUBLIC BANCORP, INC.
(Exact name of registrant as specified in its charter)
​
​
​
​
Kentucky
0-24649
61-0862051
(State or other jurisdiction
(Commission File Number)
(I.R.S. Employer Identification No.)
of incorporation)
​
​
​
​
​
601 West Market Street
,
Louisville
,
Kentucky
40202
(Address of principal executive offices)
(zip code)
​
Registrant's telephone number, including area code:
(
502
)
584-3600
​
NOT APPLICABLE
(Former Name or former address, if changed since last report)
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR    240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Securities registered pursuant to Section 12(b) of the Act:
​
​
​
​
​
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​
Title of each class
Trading Symbol
Name of each exchange on which registered
Class A Common
RBCAA
The Nasdaq Stock Market
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
​
Emerging growth company
☐
​
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Grants of Long-Term Incentive Equity Awards
On January 17, 2023, the Compensation Committee (the "Committee") of Republic Bancorp, Inc. (the "Company" or "Republic") awarded shares of restricted stock (the "Restricted Shares"), performance share units ("PSUs"), and nonqualified stock options ("NQSOs") (collectively the "Equity Awards") to certain executive officers, including Logan Pichel, Chief Executive Officer and President of Republic Bank & Trust Company (the "Bank"); Kevin Sipes, Executive Vice President and Chief Financial Officer; and William (Bill) Nelson, President of the Republic Processing Group.
​
Mr. Pichel was granted the following:
​
●
4,757 Restricted Shares, vesting December 31, 2025;
●
4,757 PSUs; and
●
21,505 NQSOs, that are exercisable between December 31, 2025 and December 31, 2026.
​
Mr. Sipes and Mr. Nelson were each granted the following:
​
●
1,189 PSUs; and
●
5,376 NQSOs, that are exercisable between December 31, 2025 and December 31, 2026.
The awarded PSUs will be settled in early 2024 by issuance of Restricted Shares (shares generally subject to forfeiture if employment ends before December 31, 2025) based on the Company's achievement of certain return on average assets ("ROAA") percentages and efficiency ratios. In addition, in order to receive a payout for either the ROAA percentages or efficiency ratios, the Company must maintain its ranking as calculated as of September 30, 2022 for that particular category among a group of selected peers.  All shares of stock issued under the PSUs or as Restricted Stock must be held by the officer for a period of two years after the vesting date.
​
This summary of the Equity Awards is qualified in its entirety by reference to the text of the Equity Award agreements, the forms of which were filed as Exhibits to the Company's Current Report on Form 8-K dated January 27, 2021 and are incorporated herein by reference.
​
Approval of Discretionary 2022 Bonuses
On January 17, 2023, the Committee approved discretionary bonus payouts related to the 2022 calendar year for certain Named Executive Officers including Juan Montano, Executive Vice President & Chief Mortgage Banking Officer, as well as Messrs. Trager, Pichel, and Sipes.
​
As previously described in the Company's discussion and analysis of compensation in its annual proxy solicitation materials, Messrs. Trager, Pichel, and Sipes participate in the Company's Bonus Incentive Compensation Program.  The Bonus Incentive Compensation Program's incentive compensation goals are tied to the overall performance of the total company ("Total Company") as measured through the Total Company's gross operating profit ("Total Company GOP").  The discretionary bonuses set forth in the table below are in addition to bonus incentive compensation awards payable under the Bonus Incentive Compensation Program as described in the proxy solicitation materials.  Additionally, these discretionary bonuses are in-line with the discretionary bonuses approved for, in general, all other Company associates whose goals were tied to the Total Company GOP for 2022.
​
2
Also as previously described in the Company's discussion and analysis of compensation in its annual proxy solicitation materials, Mr. Montano's bonus incentive compensation goals are tied to the overall performance of the Warehouse Lending division and Company-wide mortgage origination volume.  The discretionary bonus set forth in the table below for Mr. Montano is in addition to the bonus incentive compensation award payable related to the Warehouse Lending division and mortgage origination results as described in the proxy solicitation materials.
​
The discretionary bonus amounts for 2022 for these officers were as follows:
​
​
​
​
​
​
​
​
​
​
​
​
​
​
Payout
​
​
​
​
​
Executive Officer
​
​
​
​
Position
​
​
​
Discretionary
Payout
Steve Trager
Executive Chair & CEO
$40,000
Logan Pichel
CEO of the Bank
$50,000
Kevin Sipes
Executive Vice President & CFO
$17,500
Juan Montano
Executive Vice President & CMBO
$50,000
​
​
​
​
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
​
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Republic Bancorp, Inc.
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​
(Registrant)
​
​
​
​
​
​
Date:
January 20, 2023
By:
/s/ Kevin Sipes
​
​
Executive Vice President, Chief Financial Officer & Chief Accounting Officer
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​
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4