Schnell Andrew Michael 4

What Happened

• Andrew Michael Schnell, Senior Vice President at Cincinnati Financial (CINF), exercised stock options on 2026-02-17. He exercised three tranches totaling 629 shares (186, 198, 245) at exercise prices of $70.70, $85.67 and $71.19, respectively, for aggregate exercise cash of $47,555.
• To satisfy tax withholding, 397 shares (130, 115, 152) were surrendered at a market price of $165.24 per share, valued at $65,600. After withholding, Schnell netted 232 shares (629 exercised − 397 withheld). The filing shows derivative disposition entries at $0 reflecting the surrendered shares.

Key Details

• Transaction date: 2026-02-17; Form 4 filed 2026-02-19 (timely).
• Exercise details: 186 @ $70.70 ($13,150); 198 @ $85.67 ($16,963); 245 @ $71.19 ($17,442) — total exercise cost $47,555.
• Tax withholding/surrender: 130 + 115 + 152 = 397 shares withheld at $165.24 each; total withholding value $65,600.
• Net shares acquired: 232 shares.
• Footnote: Option vests in three annual installments beginning on the first anniversary of the grant (per filing).
• Shares owned after the transaction: not specified in the filing.

Context

• This was an option exercise with a net (cashless-style) settlement: options were exercised and some shares were immediately surrendered to cover tax obligations. Such withholding/surrenders are routine tax-related actions and not necessarily a directional signal about the insider’s view.