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Cintas (CTAS) director defers fees into 15 Phantom Stock Units in Form 4

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 reported receiving 15.02 Phantom Stock Units tied to Cintas common stock as a grant under the company’s directors’ deferred compensation plan. After this award, she holds 6,501.64 Phantom Stock Units. These units mirror the value of one common share each but are not actual shares, carry no voting rights, and are payable only in cash after her service as a director ends.

Positive

  • None.

Negative

  • None.
Insider CARNAHAN KAREN L
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock Units 15.02 $194.28 $3K
Holdings After Transaction: Phantom Stock Units — 6,501.64 shares (Direct)
Footnotes (1)
  1. F1. 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 (including dividend equivalents that have been credited as additional Phantom Stock Units), 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.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transaction did Cintas (CTAS) disclose for Karen L. Carnahan?
Cintas disclosed that director Karen L. Carnahan received 15.02 Phantom Stock Units as a grant under the directors’ deferred compensation plan. These units track the value of Cintas common stock but are not actual shares and will be settled in cash after board service ends.

What are Phantom Stock Units in the Cintas (CTAS) director plan?
Cintas Phantom Stock Units are bookkeeping units each valued like one share of Cintas common stock. They include credited dividend equivalents, have no voting rights, are not real shares, and are payable only in cash after a director’s service terminates under the deferred compensation plan.

How many Phantom Stock Units does Karen L. Carnahan hold after this Cintas (CTAS) Form 4?
After the reported grant, Karen L. Carnahan holds 6,501.64 Phantom Stock Units. This reflects her cumulative deferred director retainer amounts and credited dividend equivalents, all tied to Cintas’ common stock value but ultimately settled in cash, not stock, after board service concludes.

Was the Cintas (CTAS) transaction a stock purchase or sale by Karen L. Carnahan?
No open-market purchase or sale occurred. The Form 4 shows an acquisition coded as a grant or award of 15.02 Phantom Stock Units, representing deferred cash retainer compensation rather than a discretionary buy or sell of Cintas common shares in the market.

How does the Cintas (CTAS) directors’ deferred compensation plan work in this filing?
The plan lets directors defer cash retainer fees into Phantom Stock Units, including dividend equivalents. Each unit equals the value of one Cintas share but has no voting rights, and the accumulated balance is paid only in cash after the director’s service ends.
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
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 OH 45262
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CINTAS CORP [ CTAS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026
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
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
Phantom Stock Units (1) 03/13/2026 A 15.02 (1) (1) Common Stock 15.02 $194.28 6,501.64 D
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 (including dividend equivalents that have been credited as additional Phantom Stock Units), 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. Carnahan 03/17/2026
** 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).
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.

Source: View Original Filing on SEC EDGAR