Barstad Melanie W. 4

What Happened
Melanie W. Barstad, a director of Cintas Corporation (CTAS), was credited with 164.52 phantom stock units (reported as a derivative acquisition) on January 20, 2026. The units were valued at $193.74 each, for a total notional value of approximately $31,874. This transaction reflects a deferral/award of director compensation into Phantom Stock Units, not an open-market purchase of actual shares.

Key Details

• Transaction date: 2026-01-20; Form 4 filed 2026-01-22 (filed within the typical 2-business-day window).
• Reported price/value: $193.74 per unit; total value ≈ $31,874.
• Shares/units acquired: 164.52 Phantom Stock Units (derivative units).
• Shares owned after transaction: Not reported on the filing.
• Footnote: Units are Phantom Stock Units under the Directors' Deferred Compensation Plan — each unit equals the value of one Cintas common share but are not actual shares, carry no voting rights, and are payable only in cash after termination of director service.
• Remarks: Exhibit 24 (Power of Attorney) included on the filing.

Context
Phantom Stock Units are a cash-settled form of deferred compensation that track the value of company stock but do not convey ownership, voting rights, or direct dividends. Because this is a compensation/deferral transaction rather than an open-market buy or sale, it signals routine director pay administration rather than an immediate market sentiment trade.