4//SEC Filing
FROOMAN THOMAS E 4
Accession 0001567619-20-017137
CIK 0000723254other
Filed
Sep 27, 8:00 PM ET
Accepted
Sep 28, 1:02 PM ET
Size
8.3 KB
Accession
0001567619-20-017137
Insider Transaction Report
Form 4
CINTAS CORPCTAS
FROOMAN THOMAS E
VP, Secretary & Gen. Counsel
Transactions
- OtherSwap
Forward Sale Contract (Obligation to Sell)
2020-09-24+44,000→ 44,000 totalFrom: 2022-01-24Exp: 2022-01-24→ Common Stock (44,000 underlying)
Holdings
- 138,575
Common Stock
- 169(indirect: By ESOP)
Common Stock
Footnotes (3)
- [F1]On September 24, 2020, the reporting person entered into a variable prepaid forward sale agreement (the "Agreement") with an unaffiliated bank (the "Bank") relating to 44,000 shares of common stock of the Issuer and obligating the reporting person to deliver to the Bank up to 44,000 shares of common stock of the Issuer (or, at the reporting person's election, under certain circumstances, an equivalent amount of cash) to settle the Agreement on the maturity date of the contract. In exchange for entering into the Agreement and assuming the obligations thereunder, the reporting person received a cash payment of $11,471,861.
- [F2]The number of shares of Issuer common stock to be delivered to the reporting person on the maturity date is to be determined as follows: (a) if the closing price of the Issuer's common stock on the maturity date (the "Settlement Price") is less than or equal to $262.00 (the "Floor Price"), the reporting person will deliver to the Bank 44,000 shares;
- [F3](continued from footnote 2) (b) if the Settlement Price is between the Floor Price and $343.00 (the "Cap Price"), the reporting person will deliver to the Bank a number of shares of the Issuer's common stock equal to 44,000 shares multiplied by a fraction, the numerator of which is the Floor Price and denominator of which is the Settlement Price; and (c) if the Settlement Price is greater than the Cap Price, the reporting person will deliver to the Bank a number of shares of the Issuer's common stock equal to the product of (i) 44,000 shares and (ii) a fraction (X) the numerator of which is the sum of the Floor Price plus the Settlement Price minus the Cap Price, and (Y) the denominator of which is the Settlement Price
Documents
Issuer
CINTAS CORP
CIK 0000723254
Entity typeother
Related Parties
1- filerCIK 0001188317
Filing Metadata
- Form type
- 4
- Filed
- Sep 27, 8:00 PM ET
- Accepted
- Sep 28, 1:02 PM ET
- Size
- 8.3 KB