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CINTAS CORP·4

Apr 16, 7:50 PM ET

CARNAHAN KAREN L 4

Research Summary

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Updated

Cintas (CTAS) Director Karen L. Carnahan Receives Phantom Stock Units

What Happened
Karen L. Carnahan, a director of Cintas Corporation (CTAS), acquired 163.22 Phantom Stock Units on April 14, 2026. The units were recorded at $176.14 each for a total notional value of approximately $28,750. This was an award/deferral (derivative acquisition) under the directors' deferred compensation plan, not an open‑market purchase of actual shares.

Key Details

  • Transaction date: 2026-04-14; Filing date: 2026-04-16 (appears timely).
  • Transaction type/code: A (award/acquisition of derivative units).
  • Units: 163.22 Phantom Stock Units at $176.14 per unit; total value ≈ $28,750.
  • Shares owned after transaction: Not disclosed in the filing.
  • Footnote: Units are Phantom Stock Units (not actual shares), carry no voting rights, and are payable only in cash after termination of director service under the Directors' Deferred Compensation Plan.

Context
This is a routine deferral of director cash compensation into phantom (cash‑settled) stock units and does not represent an equity purchase or sale in the open market. Because these units are paid in cash upon leaving the board and carry no voting rights, they differ from actual share ownership and should be interpreted accordingly.