Cincinnati Financial (CINF) CEO receives new stock and option awards

Rhea-AI Filing Summary

Spray Stephen M reported acquisition or exercise transactions in this Form 4 filing.

Cincinnati Financial Corp reported that President & CEO Stephen M. Spray received equity-based compensation awards. On February 25, 2026, he was granted 22,056 Performance Stock Units, 1,838 Restricted Stock Units, and 34,118 stock options, all at a grant price of $0.00 per unit.

The performance units may vest on March 1, 2029 if performance goals in the grant agreement are met, while the restricted stock units vest in three annual installments on March 1 if service requirements are met. The stock options vest in three annual installments beginning on the first anniversary of the grant date. Following these awards, Spray directly holds 63,774 shares of common stock.

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

OMB APPROVAL

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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Spray Stephen M

(Last) (First) (Middle)

6200 SOUTH GILMORE RD

(Street)

FAIRFIELD OH 45014

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CINCINNATI FINANCIAL CORP [ CINF ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock								63,774	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Stock Units	$0.00	02/25/2026		A		22,056		(1)	(1)	Common Stock	22,056	$0.00	22,056	D
Restricted Stock Units	$0.00	02/25/2026		A		1,838		(2)	(2)	Common Stock	1,838	$0.00	1,838	D
Stock Option (Right to Buy)	$162.22	02/25/2026		A		34,118		02/25/2027(3)	02/25/2036(3)	Common Stock	34,118	$0.00	34,118	D

Explanation of Responses:

1. The restricted stock units vest March 1, 2029 , as set forth in the grant agreement, if performance goals are met. The number of restricted stock units shown is the maximum number of such units that may vest.

2. The restricted stock units vest in three annual installments on March 1, as set forth in the grant agreement, if service requirements are met.

3. The option vests in three annual installments beginning on the first anniversary of the date of grant.

Remarks:

	/s/ Stephen M Spray	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What equity awards did Cincinnati Financial (CINF) CEO Stephen M. Spray receive?

Stephen M. Spray received 22,056 Performance Stock Units, 1,838 Restricted Stock Units, and 34,118 stock options. All awards were granted at a $0.00 grant price per unit as part of his compensation on February 25, 2026.

When do Stephen M. Spray’s Performance Stock Units at Cincinnati Financial (CINF) vest?

The Performance Stock Units may vest on March 1, 2029 if performance goals in the grant agreement are met. The number reported represents the maximum units that can vest, assuming all specified performance conditions are fully achieved.

How do Stephen M. Spray’s Restricted Stock Units at Cincinnati Financial (CINF) vest?

The 1,838 Restricted Stock Units vest in three annual installments on March 1. Vesting depends on meeting service requirements outlined in the grant agreement, rewarding continued employment over the three-year vesting schedule.

What is the vesting schedule for Stephen M. Spray’s new stock options at Cincinnati Financial (CINF)?

The 34,118 stock options vest in three annual installments beginning on the first anniversary of the February 25, 2026 grant date. This staged vesting encourages longer-term alignment between the CEO and shareholders over several years.

How many Cincinnati Financial (CINF) common shares does Stephen M. Spray hold after these awards?

After the reported transactions, Stephen M. Spray directly holds 63,774 shares of Cincinnati Financial common stock. This figure reflects his direct ownership position following the February 25, 2026 equity grants disclosed in the filing.