Cintas (CTAS) director Karen Carnahan defers fees into new Phantom Stock Units

Rhea-AI Filing Summary

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

Cintas Corp director Karen L. Carnahan reported receiving an award of 17.160 Phantom Stock Units tied to Cintas common stock. Following this grant, she holds 6,682.030 Phantom Stock Units directly.

The units were credited at a reference value of $174.74 per unit and represent deferred compensation from her director cash retainer. Each Phantom Stock Unit tracks the value of one share of Cintas common stock but is not an actual share, carries no voting rights, and is payable only in cash after she terminates service as a director.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CARNAHAN KAREN L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	17.16	$174.74	$3K

Holdings After Transaction: Phantom Stock Units — 6,682.03 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Phantom Stock Units granted: 17.160 units Reference value per unit: $174.74 per unit Total Phantom Stock Units after grant: 6,682.030 units +1 more

4 metrics

Phantom Stock Units granted 17.160 units Deferred from director cash retainer on June 15, 2026

Reference value per unit $174.74 per unit Value used to credit Phantom Stock Units

Total Phantom Stock Units after grant 6,682.030 units Direct holdings following this compensation award

Underlying security shares per unit 1 share equivalent Each Phantom Stock Unit tracks one Cintas common share value

Key Terms

Phantom Stock Units, Directors' Deferred Compensation Plan, dividend equivalents, voting rights, +1 more

5 terms

Phantom Stock Units financial

"Reporting Person elected to defer a portion of the Reporting Person's cash retainer fees into Phantom Stock Units"

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 (including dividend equivalents that have been credited"

dividend equivalents financial

"including dividend equivalents that have been credited as additional Phantom Stock Units"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

voting rights financial

"but are not actual shares of common stock and carry no voting rights"

Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.

payable only in cash financial

"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 →

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 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			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)	06/15/2026		A		17.16		(1)	(1)	Common Stock	17.16	$174.74	6,682.03	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	06/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

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

Karen L. Carnahan reported an acquisition of 17.160 Phantom Stock Units as deferred director compensation. These units reference Cintas common stock value, increasing her total Phantom Stock Unit holdings to 6,682.030 units, all held directly as part of a non-cash compensation arrangement.

Are the Phantom Stock Units in this Cintas (CTAS) Form 4 actual shares of stock?

No, the Phantom Stock Units are not actual shares of Cintas common stock. Each unit has a value equal to one share but carries no voting rights and is payable only in cash after Ms. Carnahan’s termination of service as a director under the deferred compensation plan.

How were the new Phantom Stock Units for Cintas (CTAS) director Karen Carnahan determined?

Ms. Carnahan elected to defer a portion of her director cash retainer into 17.160 Phantom Stock Units. The units were credited at a reference value of $174.74 per unit, reflecting the value of Cintas common stock for this deferred compensation calculation, not a market trade.

What is Karen L. Carnahan’s total Phantom Stock Unit position in Cintas (CTAS) after this grant?

After the reported grant, Karen L. Carnahan directly holds 6,682.030 Phantom Stock Units. These units represent deferred cash-based compensation linked to Cintas common stock value and will be settled only in cash following her termination of service as a director.

Does this Cintas (CTAS) Form 4 show Karen Carnahan buying or selling stock in the market?

The Form 4 shows a compensation-related acquisition, not an open-market trade. Ms. Carnahan deferred part of her cash retainer into 17.160 Phantom Stock Units, which track Cintas share value but are non-voting and payable solely in cash after her board service ends.