Form 4: Cintas Director Karen Carnahan Acquires Phantom Stock

Director Karen L. Carnahan acquired 163.22 phantom stock units through the Cintas Corporation Directors' Deferred Compensation Plan.

Summary

• Director Karen L. Carnahan elected to defer a portion of her cash retainer fees into 163.22 phantom stock units.
• The transaction occurred on April 14, 2026, at a price of $176.14 per unit.
• Following this transaction, the director holds a total of 6,664.87 phantom stock units.
• Phantom stock units represent the value of common stock but do not carry voting rights and are payable only in cash upon termination of service.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation.

Positives

• Demonstrates alignment of director interests with company performance through equity-linked compensation.

Negatives

• None identified.

Risks

• Phantom stock units are subject to the long-term performance of Cintas Corporation common stock.
• Units are payable only in cash upon termination of service, creating a future liability for the company.

Future Outlook

Not applicable as this is a routine director compensation disclosure.

Industry Context

StockSavvy.ai notes that director participation in deferred compensation plans is a standard corporate governance practice, signaling confidence in long-term company value without immediate impact on share liquidity.

Comparison to Industry Standards

• The use of phantom stock for director compensation is consistent with standard practices among S&P 500 companies to align board incentives with shareholder interests.

Corporate Governance

Stakeholder Impact

• Shareholders: Neutral impact as this is a standard compensation deferral.

Next Steps

• No future actions required by the reporting person other than continued service.

Key Dates

Keywords

Cintas, CTAS, Form 4, Insider Trading, Director Compensation, Phantom Stock