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Cintas (CTAS) director defers fees into 163 phantom stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

CARNAHAN KAREN L reported acquisition or exercise transactions in this Form 4 filing.

Cintas director Karen L. Carnahan received a grant of 163.220 Phantom Stock Units on April 14, 2026 as a deferred portion of her cash retainer fees under the Directors' Deferred Compensation Plan. Each unit’s value equals one share of Cintas common stock at $176.14 per unit.

After this award, she holds 6,664.870 Phantom Stock Units. These units are bookkeeping entries, not actual shares, carry no voting rights, and are payable only in cash after she terminates service as a director.

Positive

  • None.

Negative

  • None.
Insider CARNAHAN KAREN L
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock Units 163.22 $176.14 $29K
Holdings After Transaction: Phantom Stock Units — 6,664.87 shares (Direct)
Footnotes (1)
  1. [object Object]
Phantom Stock Units granted 163.220 units Grant on April 14, 2026
Reference value per unit $176.14 per unit Value equal to one Cintas common share
Total Phantom Stock Units after grant 6,664.870 units Balance following April 14, 2026 award
Underlying common stock shares 163.220 shares Underlying security for the Phantom Stock Units
Phantom Stock Units financial
"Phantom Stock Units pursuant to the Directors' Deferred Compensation Plan"
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Directors' Deferred Compensation Plan financial
"pursuant to the Directors' Deferred Compensation Plan, each unit having a value"
cash retainer fees financial
"elected to defer a portion of the Reporting Person's cash retainer fees into Phantom Stock Units"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
CARNAHAN KAREN L
(Last)(First)(Middle)
P.O. BOX 625737
(Street)
CINCINNATI OHIO 45262
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
CINTAS CORP [ CTAS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)04/14/2026A163.22 (1) (1)Common Stock163.22$176.146,664.87D
Explanation of Responses:
1. Reporting Person elected to defer a portion of the Reporting Person's cash retainer fees into Phantom Stock Units pursuant to the Directors' Deferred Compensation Plan, each unit having a value equal to one share of Cintas Corporation common stock but are not actual shares of common stock and carry no voting rights. Phantom Stock Units are payable only in cash after termination of service as a director.
/s/ Brock Denton as Attorney-in-Fact for Karen L. Carnahan04/16/2026
** Signature of Reporting PersonDate
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Cintas (CTAS) director Karen L. Carnahan report in this Form 4?

Karen L. Carnahan reported receiving 163.220 Phantom Stock Units as compensation. The units came from deferring part of her director cash retainer under the company’s plan, increasing her total Phantom Stock Units holding to 6,664.870.

How many Phantom Stock Units did Karen Carnahan receive from Cintas (CTAS)?

She received 163.220 Phantom Stock Units. These units were credited in lieu of cash retainer fees and each unit’s value equals one share of Cintas common stock, based on a reference value of $176.14 per unit at grant.

What is the value basis of the Phantom Stock Units granted to the Cintas (CTAS) director?

Each Phantom Stock Unit has a value equal to one share of Cintas common stock. For this grant, the reference value was $176.14 per unit, aligning the deferred compensation with the company’s share price at the time of crediting.

How many total Phantom Stock Units does the Cintas (CTAS) director hold after this transaction?

After this transaction, Karen L. Carnahan holds 6,664.870 Phantom Stock Units. This total reflects the new 163.220-unit award added to her existing balance, all representing deferred cash compensation linked to Cintas’ common stock value.

Do Cintas (CTAS) Phantom Stock Units give directors voting rights or actual shares?

No, Phantom Stock Units do not provide voting rights or actual shares. They are bookkeeping units whose value tracks one Cintas common share and are settled only in cash after the director’s service ends, according to the deferred compensation plan.

When are the Cintas (CTAS) Phantom Stock Units payable to the director?

The Phantom Stock Units are payable only in cash after the director’s service ends. Under the Directors' Deferred Compensation Plan, units accumulate during service and convert into a cash payment based on their value when service terminates.