Director Melanie Barstad Acquires Phantom Stock in Cintas Corp via Fee Deferral

Transaction Summary

On September 15, 2026, Cintas Corp ($CTAS) Director Melanie W. Barstad acquired 12.37 phantom stock units at a price of $198.95 per unit, representing a total transaction value of approximately $2,461.01. Following this transaction, Barstad directly holds 4,746.82 phantom stock units.

Plan & Structure Details

According to the footnote disclosures, the transaction reflects the director's election to defer a portion of her cash retainer fees into phantom stock units under the Cintas Corporation Directors' Deferred Compensation Plan. Key characteristics include:

• Each phantom stock unit tracks the value of one share of Cintas Corporation common stock.
• Units carry no voting rights and do not represent actual shares of common stock.
• Phantom stock units are settled exclusively in cash upon termination of service as a director.

Market & Governance Impact

This filing reflects routine compensation administration rather than an open-market, discretionary buy or sell. Because the acquisition is an elective deferral of board retainer fees into phantom equity, it maintains alignment with shareholder returns but does not constitute an actionable market signal. As such, the trading significance is categorized as Low.