SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

TRAGER STEVE

(Last)

(First)

(Middle)

601 WEST MARKET STREET

(Street)

LOUISVILLE

40202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
REPUBLIC BANCORP INC /KY/ [ RBCAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
04/10/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	04/10/2006		M		11,576⁽²⁾	A	$10.07⁽²⁾	98,396⁽¹⁾	D
Class A Common Stock								186,067.317⁽¹⁾	I	By Jaytee Properties Limited Partnership⁽³⁾
Class A Common Stock								1,780,100.91⁽¹⁾	I	By Teebank Family Limited Partnership⁽⁴⁾
Class A Common Stock								7,122⁽¹⁾	I	By Spouse⁽⁵⁾
Class A Common Stock								7,213⁽¹⁾	I	By 401(k) Plan
Class A Common Stock								136,304.482⁽¹⁾	I	By ESOP⁽⁶⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$10.07⁽²⁾	04/10/2006		M			11,576⁽²⁾	04/11/2005	04/10/2006	Class A Common Stock	11,576⁽²⁾	$10.07	0	D
Class B Common Stock	⁽⁷⁾							⁽⁸⁾	⁽⁹⁾	Class A Common Stock	41,691.737⁽¹⁾		41,691.737⁽¹⁾	I	By Jaytee Properties Limited Partnership⁽³⁾
Class B Common Stock	⁽⁷⁾							⁽⁸⁾	⁽⁹⁾	Class A Common Stock	16,205⁽¹⁾		16,205⁽¹⁾	D
Class B Common Stock	⁽⁷⁾							⁽⁸⁾	⁽⁹⁾	Class A Common Stock	1,156⁽¹⁾		1,156⁽¹⁾	I	By 401(k) Plan
Class B Common Stock	⁽⁷⁾							⁽⁸⁾	⁽⁹⁾	Class A Common Stock	230,361.933⁽¹⁾		230,361.933⁽¹⁾	I	By Teebank Family Limited Partnership⁽⁴⁾
Employee Stock Option (right to buy)	$5.89⁽¹⁰⁾							01/26/2006	01/25/2007	Class A Common Stock	5,787⁽¹⁰⁾		5,787⁽¹⁰⁾	D
Employee Stock Option (right to buy)	$10.07⁽²⁾							04/11/2006	04/10/2007	Class A Common Stock	11,576⁽²⁾		11,576⁽²⁾	D

Explanation of Responses:

1. On January 20, 2006, the Issuer declared a stock dividend, payable to all holders of record of Class A and Class B Common Stock on March 24, 2006, of .05 shares of Class A and Class B Common Stock, respectively, for each share of Class A and Class B Common Stock outstanding.

2. This option was previously reported as an option for 10,000 shares of common stock at an exercise price of $11.66 per share, but was adjusted to reflect the stock dividends declared by Issuer on March 18, 2004, January 21, 2005 and January 20, 2006. As a result of the stock dividends, pursuant to the anti-dilution provisions of Issuer's employee stock option plan, the option entitled the reporting person to receive, upon exercise, a total of 11,576 shares of Class A Common Stock at an exercise price of $10.07 per share.

3. Jaytee Properties Limited Partnership is a family limited partnership of which the reporting person is a general partner and a limited partner and of which trusts for the benefit of, among others, the reporting person, the reporting person's spouse, and the reporting person's two minor children are limited partners. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

4. Teebank Family Limited Partnership is a family limited partnership of which the reporting person is a general partner and a limited partner and of which trusts for the benefit of, among others, the reporting person, the reporting person's spouse, and the reporting person's two minor children are limited partners. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

5. 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.

6. Includes 131,640.0464 unallocated shares of Class A Common Stock held by the Issuer's ESOP, of which the reporting person serves as a member of the Administrative Committee, and 2,161.0515 shares of Class A Common Stock allocated to the reporting person's father. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities. Also includes 2,503.3836 shares of Class A Common Stock allocated to the reporting person under the ESOP.

7. Conversion is on a share for share basis.

8. Immediate.

9. None.

10. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $6.81 per share, but was adjusted to reflect the stock dividends declared by Issuer on March 18, 2004, January 21, 2005 and January 20, 2006. As a result of the stock dividends, pursuant to the anti-dilution provisions of Issuer's employee stock option plan, the option entitled the reporting person to receive, upon exercise, a total of 5,787 shares of Class A Common Stock at an exercise price of $5.89 per share.

	/s/ Steven E. Trager	04/11/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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