Company Quick10K Filing
Quick10K
Republic Bancorp
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-07-24 Regulation FD, Exhibits
8-K 2019-07-19 Earnings, Exhibits
8-K 2019-07-17 Regulation FD, Exhibits
8-K 2019-05-15 Regulation FD, Exhibits
8-K 2019-04-26 Shareholder Vote
8-K 2019-04-24 Earnings, Exhibits
8-K 2019-04-24 Regulation FD, Exhibits
8-K 2019-01-25 Earnings, Exhibits
8-K 2019-01-25 Earnings, Exhibits
8-K 2019-01-23 Regulation FD, Exhibits
8-K 2019-01-23 Regulation FD, Exhibits
8-K 2018-11-14 Regulation FD, Exhibits
8-K 2018-10-19 Earnings, Exhibits
8-K 2018-07-20 Earnings, Exhibits
8-K 2018-07-18 Regulation FD, Exhibits
8-K 2018-01-26 Earnings, Exhibits
8-K 2018-01-24 Regulation FD, Exhibits
UBER Uber 55,546
PTRC Petro River Oil 26
VLDI Validian 14
BDCO Blue Dolphin Energy 6
ASNB Advansource Biomaterials 3
TBMM China Vtv 0
SRTR Strategic Realty Trust 0
ATIF ATIF Holdings 0
ETCK Enerteck 0
MLIC Metropolitan Life Insurance 0
RBCA 2019-06-30
Part I — Financial Information
Item 1. Financial Statements.
Item 2. Management’S Discussion and Analysis of Financial Condition and Results of Operations.
Item 3.Quantitative and Qualitative Disclosures About Market Risk.
Item 4.Controls and Procedures.
Part II — Other Information
Item 1.Legal Proceedings.
Item 1A.Risk Factors.
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds.
Item 6.Exhibits.
EX-31.1 rbca-20190630ex31103192f.htm
EX-31.2 rbca-20190630ex3129148ae.htm
EX-32 rbca-20190630xex32.htm

Republic Bancorp Earnings 2019-06-30

RBCA 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 rbca-20190630x10q.htm 10-Q rbcaa_Current_Folio_10Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 10-Q

 

 

 

Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the quarterly period ended June 30, 2019

 

or

 

☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Commission File Number: 0-24649

 

Picture 1

 

REPUBLIC BANCORP, INC.

(Exact name of registrant as specified in its charter)

 

 

 

 

Kentucky

 

61-0862051

(State of other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

 

601 West Market Street, Louisville, Kentucky

 

40202

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (502) 584-3600

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

 

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 (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  ☒ Yes   ☐ No

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  ☒ Yes  ☐ No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

 

 

 

 

 

 

Large accelerated filer ☐

 

Accelerated filer ☒

 

Non-accelerated filer ☐

 

Smaller reporting company ☐ 

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.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  ☐ Yes   No

 

The number of shares outstanding of the registrant’s Class A Common Stock and Class B Common Stock, as of July  31,  2019, was 18,739,086 and 2,207,626.

 

 

 

2

GLOSSARY OF ABBREVIATIONS AND ACRONYMS

The acronyms and terms identified in alphabetical order below are used throughout this Form 10-Q. You may find it helpful to refer to this page as you read this report.

 

 

 

 

 

 

 

 

 

 

 

 

Acronym or Term

   

Definition

   

Acronym or Term

   

Definition

   

Acronym or Term

   

Definition

 

 

 

 

 

 

 

 

 

 

 

ACH

 

Automated Clearing House

 

FASB

 

Financial Accounting Standards Board

 

PCI-1

 

PCI - Group 1

AFS

 

Available for Sale

 

FDIA

 

Federal Deposit Insurance Act

 

PCI-Sub

 

PCI - Substandard

Allowance

 

Allowance for Loan and Lease Losses

 

FDIC

 

Federal Deposit Insurance Corporation

 

Prime

 

The Wall Street Journal Prime Interest Rate

AOCI

 

Accumulated Other Comprehensive Income

 

FFTR

 

Federal Funds Target Rate

 

Provision

 

Provision for Loan and Lease Losses

APR

 

Annual Percentage Rate

 

FHLB

 

Federal Home Loan Bank

 

PSU

 

Performance Stock Unit

ASC

 

Accounting Standards Codification

 

FHLMC

 

Federal Home Loan Mortgage Corporation

 

R&D

 

Research and Development

ASU

 

Accounting Standards Update

 

FICO

 

Fair Isaac Corporation

 

RB&T / the Bank

 

Republic Bank & Trust Company

Basic EPS

 

Basic earnings per Class A Common Share

 

FNMA

 

Federal National Mortgage Association

 

RBCT

 

Republic Bancorp Capital Trust

BOLI

 

Bank Owned Life Insurance

 

FRB

 

Federal Reserve Bank

 

RCS

 

Republic Credit Solutions

BPO

 

Brokered Price Opinion

 

FTE

 

Full Time Equivalent

 

Republic / the Company

 

Republic Bancorp, Inc.

C&D

 

Construction and Development

 

GAAP

 

Generally Accepted Accounting Principles in the United States

 

ROA

 

Return on Average Assets

C&I

 

Commercial and Industrial

 

HELOC

 

Home Equity Line of Credit

 

ROE

 

Return on Average Equity

CECL

 

Current Expected Credit Loss

 

HTM

 

Held to Maturity

 

RPG

 

Republic Processing Group

CMO

 

Collateralized Mortgage Obligation

 

IRS

 

Internal Revenue Service

 

RPS

 

Republic Payment Solutions

Core Bank

 

The Traditional Banking, Warehouse Lending, and Mortgage Banking reportable segments

 

LIBOR

 

London Interbank Offered Rate

 

RT

 

Refund Transfer

CRA

 

Community Reinvestment Act

 

LPO

 

Loan Production Office

 

SEC

 

Securities and Exchange Commission

CRE

 

Commercial Real Estate

 

LTV

 

Loan to Value

 

SSUAR

 

Securities Sold Under Agreements to Repurchase

Diluted EPS

 

Diluted earnings per Class A Common Share

 

MBS

 

Mortgage Backed Securities

 

SVP

 

Senior Vice President

DTA

 

Deferred Tax Assets

 

MSRs

 

Mortgage Servicing Rights

 

TCJA

 

2017 Tax Cuts and Jobs Act

DTL

 

Deferred Tax Liabilities

 

NA 

 

Not Applicable

 

TDR

 

Troubled Debt Restructuring

EA

 

Easy Advance

 

NM

 

Not Meaningful

 

The Captive

 

Republic Insurance Services, Inc.

EBITDA

 

Earnings Before Interest, Taxes, Depreciation and Amortization

 

OCI

 

Other Comprehensive Income

 

TPS

 

Trust Preferred Securities

EFTA

 

Electronic Fund Transfers Act

 

OREO

 

Other Real Estate Owned

 

TRS

 

Tax Refund Solutions

ESPP

 

Employee Stock Purchase Plan

 

OTTI

 

Other than Temporary Impairment

 

TRUP

 

TPS Investment

EVP

 

Executive Vice President

 

PCI

 

Purchased Credit Impaired

 

Warehouse

 

Warehouse Lending

 

 

 

 

 

 

 

 

 

 

 

3

PART I — FINANCIAL INFORMATION

 

Item 1.  Financial Statements.

 

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands)

 

 

 

 

 

 

 

 

 

June 30, 

    

December 31, 

 

 

2019

 

2018

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

473,779

 

$

351,474

 

Available-for-sale debt securities

 

380,356

 

 

475,738

 

Held-to-maturity debt securities (fair value of $64,433 in 2019 and $64,858 in 2018)

 

63,902

 

 

65,227

 

Equity securities with readily determinable fair value

 

3,254

 

 

2,806

 

Mortgage loans held for sale, at fair value

 

13,883

 

 

8,971

 

Reverse mortgage loans held for sale, at the lower of cost or fair value

 

12,457

 

 

 —

 

Consumer loans held for sale, at the lower of cost or fair value

 

37,609

 

 

12,838

 

Loans held for sale in connection with sale of banking centers, at the lower of cost or fair value

 

111,745

 

 

 —

 

Loans (loans carried at fair value of $1,369 in 2019 and $1,922 in  2018)

 

4,410,669

 

 

4,148,227

 

Allowance for loan and lease losses

 

(45,983)

 

 

(44,675)

 

Loans, net

 

4,364,686

 

 

4,103,552

 

Federal Home Loan Bank stock, at cost

 

32,242

 

 

32,067

 

Premises and equipment, net

 

42,647

 

 

43,126

 

Premises, held for sale

 

1,552

 

 

1,694

 

Right-of-use assets

 

37,450

 

 

 —

 

Goodwill

 

16,300

 

 

16,300

 

Other real estate owned

 

1,095

 

 

160

 

Bank owned life insurance

 

65,642

 

 

64,883

 

Other assets and accrued interest receivable

 

64,535

 

 

61,568

 

 

 

 

 

 

 

 

TOTAL ASSETS

$

5,723,134

 

$

5,240,404

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

Noninterest-bearing

$

1,003,793

 

$

1,003,969

 

Interest-bearing

 

2,557,127

 

 

2,452,176

 

Deposits held for assumption in connection with sale of banking centers

 

152,954

 

 

 —

 

Total deposits

 

3,713,874

 

 

3,456,145

 

 

 

 

 

 

 

 

Securities sold under agreements to repurchase and other short-term borrowings

 

226,002

 

 

182,990

 

Operating lease liabilities

 

38,852

 

 

 —

 

Federal Home Loan Bank advances

 

915,000

 

 

810,000

 

Subordinated note

 

41,240

 

 

41,240

 

Other liabilities and accrued interest payable

 

56,738

 

 

60,095

 

 

 

 

 

 

 

 

Total liabilities

 

4,991,706

 

 

4,550,470

 

 

 

 

 

 

 

 

Commitments and contingent liabilities (Footnote 9)

 

 —

 

 

 —

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock, no par value

 

 —

 

 

 —

 

Class A Common Stock and Class B Common Stock, no par value

 

4,907

 

 

4,900

 

Additional paid in capital

 

141,525

 

 

141,018

 

Retained earnings

 

581,734

 

 

545,013

 

Accumulated other comprehensive income (loss)

 

3,262

 

 

(997)

 

 

 

 

 

 

 

 

Total stockholders’ equity

 

731,428

 

 

689,934

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

5,723,134

 

$

5,240,404

 

 

See accompanying footnotes to consolidated financial statements.

 

4

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(in thousands, except per share data)  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

    

Six Months Ended

 

 

June 30, 

 

June 30, 

 

 

2019

 

2018

 

2019

 

2018

 

INTEREST INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans, including fees

$

60,211

 

$

53,944

 

$

137,039

 

$

123,571

 

Taxable investment securities

 

3,284

 

 

2,708

 

 

6,875

 

 

5,342

 

Federal Home Loan Bank stock and other

 

2,169

 

 

1,704

 

 

4,383

 

 

3,276

 

Total interest income

 

65,664

 

 

58,356

 

 

148,297

 

 

132,189

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST EXPENSE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

6,903

 

 

3,934

 

 

13,651

 

 

7,294

 

Securities sold under agreements to repurchase and other short-term borrowings

 

330

 

 

222

 

 

751

 

 

435

 

Federal Home Loan Bank advances

 

4,062

 

 

2,723

 

 

6,792

 

 

4,997

 

Subordinated note

 

423

 

 

393

 

 

858

 

 

714

 

Total interest expense

 

11,718

 

 

7,272

 

 

22,052

 

 

13,440

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INTEREST INCOME

 

53,946

 

 

51,084

 

 

126,245

 

 

118,749

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

4,460

 

 

4,932

 

 

21,691

 

 

22,187

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES

 

49,486

 

 

46,152

 

 

104,554

 

 

96,562

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NONINTEREST INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

3,598

 

 

3,574

 

 

6,901

 

 

7,129

 

Net refund transfer fees

 

3,629

 

 

3,473

 

 

20,729

 

 

19,825

 

Mortgage banking income

 

2,416

 

 

1,316

 

 

3,955

 

 

2,336

 

Interchange fee income

 

3,257

 

 

2,891

 

 

6,014

 

 

5,558

 

Program fees

 

1,037

 

 

1,323

 

 

2,111

 

 

3,019

 

Increase in cash surrender value of bank owned life insurance

 

377

 

 

379

 

 

759

 

 

750

 

Net gains on other real estate owned

 

90

 

 

320

 

 

220

 

 

452

 

Other

 

721

 

 

1,020

 

 

1,853

 

 

2,772

 

Total noninterest income

 

15,125

 

 

14,296

 

 

42,542

 

 

41,841

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NONINTEREST EXPENSE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

25,286

 

 

22,766

 

 

50,362

 

 

46,600

 

Occupancy and equipment, net

 

6,472

 

 

6,391

 

 

13,056

 

 

12,612

 

Communication and transportation

 

1,071

 

 

1,241

 

 

2,232

 

 

2,623

 

Marketing and development

 

1,278

 

 

1,283

 

 

2,380

 

 

2,199

 

FDIC insurance expense

 

295

 

 

345

 

 

743

 

 

870

 

Bank franchise tax expense

 

935

 

 

860

 

 

3,431

 

 

3,378

 

Data processing

 

2,217

 

 

2,443

 

 

4,313

 

 

4,829

 

Interchange related expense

 

1,302

 

 

1,098

 

 

2,617

 

 

2,105

 

Supplies

 

582

 

 

303

 

 

1,066

 

 

684

 

Other real estate owned and other repossession expense

 

148

 

 

16

 

 

194

 

 

61

 

Legal and professional fees

 

844

 

 

728

 

 

1,730

 

 

1,771

 

Other

 

2,998

 

 

3,158

 

 

6,813

 

 

5,945

 

Total noninterest expense

 

43,428

 

 

40,632

 

 

88,937

 

 

83,677

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME BEFORE INCOME TAX EXPENSE

 

21,183

 

 

19,816

 

 

58,159

 

 

54,726

 

INCOME TAX EXPENSE

 

3,176

 

 

4,150

 

 

10,636

 

 

11,591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME

$

18,007

 

$

15,666

 

$

47,523

 

$

43,135

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BASIC EARNINGS PER SHARE:

 

 

 

 

 

 

 

 

 

 

 

 

Class A Common Stock

$

0.86

 

$

0.75

 

$

2.29

 

$

2.08

 

Class B Common Stock

 

0.79

 

 

0.68

 

 

2.08

 

 

1.89

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DILUTED EARNINGS PER SHARE:

 

 

 

 

 

 

 

 

 

 

 

 

Class A Common Stock

$

0.86

 

$

0.74

 

$

2.28

 

$

2.06

 

Class B Common Stock

 

0.78

 

 

0.68

 

 

2.07

 

 

1.88

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying footnotes to consolidated financial statements.

 

5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME  (UNAUDITED)

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

    

Six Months Ended

 

 

June 30, 

 

June 30, 

 

 

2019

    

2018

 

2019

    

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

$

18,007

 

$

15,666

 

$

47,523

 

$

43,135

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER COMPREHENSIVE INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of derivatives used for cash flow hedges

 

(146)

 

 

77

 

 

(215)

 

 

276

 

Reclassification amount for net derivative losses realized in income

 

(13)

 

 

 9

 

 

(32)

 

 

35

 

Change in unrealized (loss) gain on AFS debt securities

 

2,014

 

 

(546)

 

 

5,673

 

 

(2,663)

 

Adjustment for adoption of ASU 2016-01

 

 —

 

 

 —

 

 

 —

 

 

(428)

 

Change in unrealized gain on AFS debt security for which a portion of OTTI has been recognized in earnings

 

(1)

 

 

(15)

 

 

(34)

 

 

(17)

 

Total other comprehensive income (loss) before income tax

 

1,854

 

 

(475)

 

 

5,392

 

 

(2,797)

 

Tax effect

 

(389)

 

 

99

 

 

(1,133)

 

 

588

 

Total other comprehensive income (loss), net of tax

 

1,465

 

 

(376)

 

 

4,259

 

 

(2,209)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPREHENSIVE INCOME

$

19,472

 

$

15,290

 

$

51,782

 

$

40,926

 

 

See accompanying footnotes to consolidated financial statements.

 

6

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

    

Class A

    

Class B

    

    

 

    

Additional

    

    

 

    

Other

    

Total

 

 

 

Shares

 

Shares

 

 

 

 

Paid In

 

Retained

 

Comprehensive

 

Stockholders’

 

(in thousands)

 

Outstanding

 

Outstanding

 

Amount

 

Capital

 

Earnings

 

Income (Loss)

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 1, 2019

 

18,698

 

2,213

 

$

4,899

 

$

141,206

 

$

569,189

 

$

1,797

 

$

717,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 —

 

 —

 

 

 —

 

 

 —

 

 

18,007

 

 

 —

 

 

18,007

 

Net change in accumulated other comprehensive income

 

 —

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,465

 

 

1,465

 

Dividends declared on Common Stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A Shares ($0.264 per share)

 

 —

 

 —

 

 

 —

 

 

 —

 

 

(4,932)

 

 

 —

 

 

(4,932)

 

Class B Shares ($0.240 per share)

 

 —

 

 —

 

 

 —

 

 

 —

 

 

(530)

 

 

 —

 

 

(530)

 

Stock options exercised, net of shares redeemed

 

34

 

 —

 

 

 8

 

 

(110)

 

 

 —

 

 

 —

 

 

(102)

 

Conversion of Class B to Class A Common Shares

 

 5

 

(5)

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Net change in notes receivable on Class A Common Stock

 

 —

 

 —

 

 

 —

 

 

(158)

 

 

 —

 

 

 —

 

 

(158)

 

Deferred compensation - Class A Common Stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Directors

 

 —

 

 —

 

 

 —

 

 

41

 

 

 —

 

 

 —

 

 

41

 

Designated key employees

 

 —

 

 —

 

 

 —

 

 

58

 

 

 —

 

 

 —

 

 

58

 

Employee stock purchase plan - Class A Common Stock

 

 2

 

 —

 

 

 —

 

 

114

 

 

 —

 

 

 —

 

 

114

 

Stock-based awards - Class A Common Stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance stock units

 

 —

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Restricted stock

 

 1

 

 —

 

 

 —

 

 

295

 

 

 —

 

 

 —

 

 

295

 

Stock options

 

 —

 

 —

 

 

 —

 

 

79

 

 

 —

 

 

 —

 

 

79

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, June 30, 2019

 

18,740

 

2,208

 

$

4,907

 

$

141,525

 

$

581,734

 

$

3,262

 

$

731,428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2018