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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * STUMBO KEVIN J   2. Issuer Name and Ticker or Trading Symbol COMMUNITY TRUST BANCORP INC /KY/ [CTBI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP/Treasurer (Last) (First) (Middle) PO BOX 2947 3. Date of Earliest Transaction (Month/Day/Year) 08/15/2008 (Street) PIKEVILLE, KY 41502-2947 4. If Amendment, Date 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 (City) (State) (Zip) 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) Code V Amount (A) or (D) Price Common Stock 08/15/2008   M   2,500 A $ 19.992 3,352 D   Common Stock 08/15/2008   S   400 D $ 33.3 2,952 D   Common Stock 08/15/2008   S   800 D $ 33.28 2,152 D   Common Stock 08/15/2008   S   40 D $ 33.27 2,112 D   Common Stock 08/15/2008   S   100 D $ 33.26 2,012 D   Common Stock 08/15/2008   S   100 D $ 33.19 1,912 D   Common Stock 08/15/2008   S   60 D $ 33.12 1,852 D   Common Stock 08/15/2008   S   100 D $ 33.11 1,752 D   Common Stock 08/15/2008   S   100 D $ 33.1 1,652 D   Common Stock 08/15/2008   S   680 D $ 33.021 972 D   Common Stock 08/15/2008   S   120 D $ 33.02 852 D   Common Stock               869 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (1)

$ 19.992 (2)

08/15/2008

M

2,500

10/22/2007

10/22/2012

Common Stock

2,500 (2)

$ 19.992

11,120

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
STUMBO KEVIN J PO BOX 2947 PIKEVILLE, KY 41502-2947			EVP/Treasurer

Signatures

Kevin J. Stumbo By: Marilyn T. Justice, Attorney-in-Fact		08/18/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Right to buy pursuant to Management Retention Incentive Stock Option Agreement (CTBI 1998 Stock Option Plan).
(2)	Option previously reported as covering 20,000 shares @$26.61 per share, adjusted to reflect 10% stock dividends effective 12/15/02, 12/15/03, and 12/15/04.

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