KELLINGTON JOHN S 4

What Happened

• John S. Kellington, EVP and Chief Information Officer of Cincinnati Financial (CINF), exercised stock options on April 29, 2026. He acquired 28,156 shares at an exercise price of $71.19 per share (total cost $2,004,426). To satisfy tax withholding, 18,935 of those shares were surrendered/disposed at a market-based value of $163.92 per share (value $3,103,825). The filing also records the conversion/termination of the derivative option instrument (reported at $0.00).

Key Details

• Transaction date: 2026-04-29; Form 4 filed: 2026-05-01 (filed within the typical 2-business-day window).
• Option exercise (code M): 28,156 shares acquired @ $71.19 = $2,004,426.
• Tax withholding (code F): 18,935 shares disposed @ $163.92 = $3,103,825.
• Net shares retained from the exercise: 28,156 - 18,935 = 9,221 shares.
• Shares owned after the transaction: not provided in the information you supplied (the filing notes beneficial ownership was adjusted for dividend reinvestment).
• Footnotes: F1 — reporting person is enrolled in quarterly dividend reinvestment; beneficial ownership adjusted accordingly. F2 — option vests in three annual installments starting on the first anniversary of the grant.
• Transaction types explained: M = option exercise/conversion; F = shares surrendered/withheld to cover taxes (routine).

Context

• This was an option exercise with net-share settlement (shares were withheld to cover taxes), a common, routine way insiders satisfy tax obligations when exercising equity awards. The transaction reflects an acquisition of underlying shares followed by a tax-related disposition — not an open-market sale. No late filing or unusual flags are indicated in the provided data.