CARNAHAN KAREN L 4

What Happened
Karen Carnahan, a director of Cintas Corporation (CTAS), was granted 148.39 phantom stock units on January 20, 2026. The units are valued at $193.74 each for a total economic value of about $28,749. This filing reports an award/acquisition (code A) of a derivative interest, not an open-market purchase of actual shares.

Key Details

• Transaction date: 2026-01-20; Filing date: 2026-01-22 (timely filing).
• Award: 148.39 Phantom Stock Units at $193.74 per unit; total ≈ $28,749.
• Shares owned after transaction: Not disclosed in this filing.
• Footnote: Reporting person elected to defer cash director retainer into Phantom Stock Units under the Directors' Deferred Compensation Plan. Units track the value of one share but are not actual shares, carry no voting rights, and are payable in cash only after termination of director service.
• Transaction code: A (Grant/award or other acquisition); derivative transaction.

Context
This is a routine compensation-related deferral into phantom stock units rather than a purchase or sale of actual Cintas common stock. Phantom Stock Units provide cash tied to share value at payout and do not convey ownership or voting rights; they should be interpreted as a compensation election, not a direct insider investment signal.