Cincinnati Financial EVP Teresa Cracas Exercises Options

What Happened

• Teresa C. Cracas, EVP & Chief Risk Officer (Cincinnati Financial Corp., CINF), exercised 15,386 stock options on 2026-04-29. The exercise price was $70.70 per share (total paid $1,087,790).
• To satisfy tax withholding, 10,321 of the newly acquired shares were withheld/disposed at a value of $163.92 per share (withheld value ≈ $1,691,818). The filing also records the conversion of the derivative (options) into 15,386 shares.

Key Details

• Transaction date: 2026-04-29; Form filed: 2026-05-01 (filed timely).
• Option exercise (code M): 15,386 shares exercised at $70.70 (insider paid $1,087,790).
• Tax withholding (code F): 10,321 shares withheld/disposed at $163.92 (≈ $1,691,818 withheld).
• Derivative conversion: 15,386 shares listed as disposed at $0, reflecting conversion of the option to stock.
• Shares owned after transaction: not stated in the provided filing excerpt.
• Footnote: the option vests in three annual installments beginning on the first anniversary of the grant (F1).

Context

• This appears to be a routine option exercise with a portion of shares withheld to cover tax obligations (a common cashless-like settlement for taxes), not an open-market sale signaling a directional bet.
• Codes: M = option exercise/conversion; F = shares withheld for tax withholding.