Executive at Cincinnati Financial (CINF) exercises stock units, withholds shares for tax

Rhea-AI Filing Summary

Cincinnati Financial Corp executive Teresa C. Cracas reported multiple equity award transactions. On March 2, 2026, she exercised 9,522 Performance Stock Units and several Restricted Stock Units, converting them into shares of common stock at a stated price of $0.00 per share.

Following these derivative exercises and conversions, she held 50,493.704 shares of common stock directly and 1,883.193 shares indirectly through her spouse. Separate common stock dispositions, coded "F," delivered shares at $163.43 per share to satisfy tax withholding obligations tied to these awards, rather than open-market sales.

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^*

Cracas Teresa C

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Risk Off. - Sub

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		M		492	A	$0.00	44,080.704	D
Common Stock	03/02/2026		M		9,522	A	$0.00	53,602.704	D
Common Stock	03/02/2026		M		415	A	$0.00	54,017.704	D
Common Stock	03/02/2026		M		423	A	$0.00	54,440.704	D
Common Stock	03/02/2026		F		215	D	$163.43	54,225.704	D
Common Stock	03/02/2026		F		181	D	$163.43	54,044.704	D
Common Stock	03/02/2026		F		184	D	$163.43	53,860.704	D
Common Stock	03/02/2026		F		3,367	D	$163.43	50,493.704	D
Common Stock								1,883.193	I	By Spouse

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	03/02/2026		M			9,522	(1)	(1)	Common Stock	9,522	$0.00	0.00	D
Restricted Stock Units	$0.00	03/02/2026		M			423	(2)	(2)	Common Stock	423	$0.00	0.00	D
Restricted Stock Units	$0.00	03/02/2026		M			492	(3)	(3)	Common Stock	492	$0.00	492	D
Restricted Stock Units	$0.00	03/02/2026		M			415	(4)	(4)	Common Stock	415	$0.00	830	D

Explanation of Responses:

1. The restricted stock units became payable March 1, 2026. The performance goals were met at maximum level.

2. 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.

3. 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.

4. 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.

Remarks:

	/s/ Teresa C Cracas	03/03/2026
	** 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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FAQ

What insider transactions did Teresa C. Cracas report for Cincinnati Financial (CINF)?

Teresa C. Cracas reported exercising Performance Stock Units and Restricted Stock Units, converting them into Cincinnati Financial common stock. She also delivered some shares to cover tax withholding obligations related to these equity awards, as indicated by transaction code "F" and the stated share price of $163.43.

How many Cincinnati Financial shares does Teresa C. Cracas own after these Form 4 transactions?

After the reported transactions, Teresa C. Cracas directly owned 50,493.704 shares of Cincinnati Financial common stock. She also had an indirect holding of 1,883.193 shares through her spouse, reflecting both her equity award activity and related tax-withholding share deliveries.

Were the Cincinnati Financial (CINF) insider dispositions open-market sales?

The dispositions were not open-market sales; they were coded "F" for tax-withholding. Shares of Cincinnati Financial common stock were delivered at $163.43 per share to satisfy exercise price or tax liabilities arising from vested Performance Stock Units and Restricted Stock Units.

What types of equity awards did Teresa C. Cracas exercise at Cincinnati Financial?

She exercised Performance Stock Units and multiple tranches of Restricted Stock Units that had vested under their grant agreements. Footnotes state the performance goals for certain units were met at the maximum level, and vesting followed three-year service periods ending between March 1, 2026 and March 1, 2028.

What does the $0.00 exercise price mean in the CINF Form 4 filing?

The $0.00 exercise price reflects that the Performance Stock Units and Restricted Stock Units converted into common shares without a cash exercise cost. Instead, separate "F" transactions at $163.43 per share covered related tax obligations by delivering Cincinnati Financial stock back to the issuer.