Cintas (CTAS) Director Karen Carnahan Receives Award

What Happened Karen L. Carnahan, a director of Cintas Corporation (CTAS), was granted 17.82 Phantom Stock Units on 2026-09-15. The units were valued at $198.95 each for a total reported value of $3,545. The Form 4 classifies this as an award/acquisition (code A) and the units are reported as a derivative instrument rather than actual shares.

Key Details

• Transaction date: 2026-09-15; Form 4 filed 2026-09-17 (timely).
• Award: 17.82 Phantom Stock Units at $198.95 per unit; total value $3,545.
• Security type: Phantom Stock Units (derivative), not actual common stock; carry no voting rights.
• Shares owned after transaction: Not reported in the filing.
• Footnote: The units were received via election to defer cash retainer into Phantom Stock Units under the Directors' Deferred Compensation Plan; dividend equivalents have been credited as additional units and payouts are made in cash only after termination of service.

Context Phantom Stock Units track the value of Cintas common stock but are payable in cash and do not represent voting shares. Such deferrals are a routine form of director compensation and do not necessarily signal the director's view on the stock.