Brown Roger A 4

What Happened

• Roger A. Brown, Senior Vice President and COO of a subsidiary of Cincinnati Financial (CINF), exercised 6,900 stock options on 2026-05-05, acquiring 6,900 shares at an exercise price valued at $71.19 each (total reported value $491,211).
• To cover taxes/exercise payment, 4,685 shares were withheld/disposed (reported at $159.88 per share, value $749,038). In addition, Brown gifted 2,500 shares the same day. The filing also shows the derivative/options position was converted/terminated in the reporting.

Key Details

• Transaction date: 2026-05-05; Form 4 filed: 2026-05-07 (filed timely).
• Exercise (code M): 6,900 shares acquired @ $71.19 = $491,211.
• Tax/exercise withholding (code F): 4,685 shares withheld/disposed @ $159.88 = $749,038.
• Gift (code G): 2,500 shares gifted; reported value $0 for gift entry.
• Vesting note (F1): the underlying option vests in three annual installments beginning on the first anniversary of grant.
• Dividend reinvestment note (F2): reported beneficial ownership has been adjusted for shares purchased via the company’s dividend reinvestment plan.
• The filing does not list a new total beneficially owned share count in the provided excerpt.

Context

• This was an option exercise (code M). Part of the shares were withheld (code F) to cover taxes or exercise costs — a common cashless/withholding settlement practice — and 2,500 shares were given as a gift (code G), which is a non-sale transfer and not a market sentiment signal.
• No late filing flag; the report appears timely. As always, exercises and subsequent withholding are routine insider compensation events and do not necessarily indicate a view on the company’s near-term stock performance.