Cincinnati Financial (CINF) chair exercises awards, with shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cincinnati Financial Corp chairman Steven J. Johnston reported multiple equity award transactions. On March 2, 2026, he exercised performance and restricted stock units into common stock at no cash cost, including 28,818 shares from performance stock units and several smaller restricted stock unit conversions. To cover tax obligations, 11,836 and other smaller blocks of common shares were withheld at a price of 163.43 per share. After these transactions, he directly held 213,840 shares of common stock and 187,271 phantom stock shares in the company’s Top Hat Savings Plan, which are settled upon retirement or other termination of service.
Positive
- None.
Negative
- None.
Insider Trade Summary
30,862 shares exercised/converted
Mixed
13 txns
Insider
JOHNSTON STEVEN J
Role
Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Units | 28,818 | $0.00 | -- |
| Exercise | Restricted Stock Units | 801 | $0.00 | -- |
| Exercise | Restricted Stock Units | 930 | $0.00 | -- |
| Exercise | Restricted Stock Units | 313 | $0.00 | -- |
| Exercise | Common Stock | 801 | $0.00 | -- |
| Exercise | Common Stock | 28,818 | $0.00 | -- |
| Exercise | Common Stock | 930 | $0.00 | -- |
| Exercise | Common Stock | 313 | $0.00 | -- |
| Tax Withholding | Common Stock | 132 | $163.43 | $22K |
| Tax Withholding | Common Stock | 392 | $163.43 | $64K |
| Tax Withholding | Common Stock | 337 | $163.43 | $55K |
| Tax Withholding | Common Stock | 11,836 | $163.43 | $1.93M |
| holding | Phantom Stock Shares | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 0 shares (Direct);
Restricted Stock Units — 0 shares (Direct);
Common Stock — 196,476 shares (Direct);
Phantom Stock Shares — 187,271 shares (Direct)
Footnotes (1)
- The restricted stock units became payable March 1, 2026. The performance goals were met at maximum level. The restricted stock units vested March 1, 2026, as set forth in the grant agreement providing for ratable vesting over a three year service period ending March 1, 2026. The restricted stock units vested March 1, 2026, as set forth in the grant agreement providing for ratable vesting over a three year service period ending March 1, 2027. The restricted stock units vested March 1, 2026, as set forth in the grant agreement providing for ratable vesting over a three year service period ending March 1, 2028. The reported phantom stock shares were acquired under the company's Top Hat Savings Plan, an "Excess Benefits Plan" within the meaning of Rule 16b-3(b)(2), and are to be settled upon the reporting person's retirement or other termination of service. The reporting person may transfer the value of his phantom stock shares into an alternative investment selection within the plan.
FAQ
What did Cincinnati Financial (CINF) chairman Steven J. Johnston report in this Form 4?
He reported equity award exercises and related tax withholding. Performance and restricted stock units converted into common stock at no cash cost, and a portion of the resulting shares was withheld to satisfy tax liabilities under the company’s compensation arrangements.
Were the Cincinnati Financial Form 4 transactions open-market buys or sells?
No, they involved award exercises and tax withholding. The transactions reflect the exercise or conversion of performance and restricted stock units into common stock and the delivery of some shares to cover associated tax obligations, not discretionary open-market trading.
What role did performance stock units play in this Cincinnati Financial Form 4?
Performance stock units converted into common shares at maximum achievement. Footnotes state the performance goals were met at the maximum level, and 28,818 performance stock unit shares became payable and were converted into common stock on March 1 and 2, 2026.