[Form 4] Cincinnati Financial Corp Insider Trading Activity
Form 4 鈥� Cincinnati Financial Corp. (CINF)
Subsidiary Sr VP & COO Roger A. Brown reported multiple transactions on 07/31/2025. He exercised 3,100 stock options at an exercise price of $71.19 (Code M), adding the same number of common shares. To satisfy tax withholding he disposed of 2,176 shares at the prevailing price of $148.83 (Code F), and gifted 2,000 shares at no consideration (Code G). Following the transactions Brown directly owns 56,141 shares and indirectly holds 14,596.256 shares for his children.
The sequence results in a modest net reduction of 1,076 direct shares versus pre-exercise holdings, yet no open-market sale occurred. All derivative securities from this option grant are now fully exercised, leaving zero remaining options outstanding.
Modulo 4 鈥� Cincinnati Financial Corp. (CINF)
Il vicepresidente senior e COO della controllata, Roger A. Brown, ha riportato diverse transazioni in data 31/07/2025. Ha esercitato 3.100 opzioni su azioni al prezzo di esercizio di 71,19$ (Codice M), acquisendo lo stesso numero di azioni ordinarie. Per soddisfare la ritenuta fiscale, ha venduto 2.176 azioni al prezzo corrente di 148,83$ (Codice F) e ha donato 2.000 azioni senza alcun corrispettivo (Codice G). Dopo queste operazioni, Brown possiede direttamente 56.141 azioni e detiene indirettamente 14.596,256 azioni per conto dei suoi figli.
La sequenza di operazioni comporta una modesta riduzione netta di 1.076 azioni dirette rispetto al posseduto prima dell鈥檈sercizio, senza per貌 alcuna vendita sul mercato aperto. Tutti i titoli derivati da questo grant di opzioni sono ora completamente esercitati, con zero opzioni residue ancora in essere.
Formulario 4 鈥� Cincinnati Financial Corp. (CINF)
El vicepresidente senior y COO de la subsidiaria, Roger A. Brown, report贸 m煤ltiples transacciones el 31/07/2025. Ejerci贸 3.100 opciones sobre acciones a un precio de ejercicio de 71,19$ (C贸digo M), agregando el mismo n煤mero de acciones comunes. Para cubrir la retenci贸n fiscal, vendi贸 2.176 acciones al precio vigente de 148,83$ (C贸digo F) y regal贸 2.000 acciones sin contraprestaci贸n (C贸digo G). Tras estas operaciones, Brown posee directamente 56.141 acciones y mantiene indirectamente 14.596,256 acciones en nombre de sus hijos.
La secuencia resulta en una reducci贸n neta moderada de 1.076 acciones directas respecto a las tenencias previas al ejercicio, sin que se haya realizado ninguna venta en el mercado abierto. Todos los valores derivados de esta concesi贸n de opciones est谩n ahora completamente ejercidos, quedando cero opciones pendientes.
靹滌嫕 4 鈥� Cincinnati Financial Corp. (CINF)
鞛愴殞靷� 靾橃劃 攵�靷灔 瓴� COO鞚� Roger A. Brown鞚赌 2025雲� 7鞗� 31鞚�鞐� 鞐煬 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 攴鸽姅 頄夓偓 臧�瓴� $71.19(旖旊摐 M)鞐� 3,100欤� 鞀ろ啞鞓奠厴鞚� 頄夓偓頃橃棳 霃欖澕頃� 靾橃潣 氤错喌欤茧ゼ 於旉皜搿� 旆摑頄堨姷雼堧嫟. 靹戈笀 鞗愳矞歆曥垬毳� 於╇嫻頃橁赴 鞙勴暣 順勳灛臧� $148.83(旖旊摐 F)搿� 2,176欤�毳� 觳橂秳頄堦碃, 2,000欤�電� 氍挫儊 歃濎棳頄堨姷雼堧嫟(旖旊摐 G). 鞚� 瓯半灅 鞚错泟 Brown鞚赌 歆侅爲 56,141欤�毳� 氤挫湢頃橁碃 鞛堨溂氅�, 鞛愲厐霌れ潉 鞙勴暣 臧勳爲鞝侅溂搿� 14,596.256欤�毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
鞚� 鞚茧牗鞚� 瓯半灅電� 頄夓偓 鞝� 氤挫湢 欤检嫕 雽�牍� 歆侅爲 氤挫湢 欤检嫕鞚� 靾滉皭靻� 1,076欤�搿� 靻岉彮 欷勳棃鞙茧倶, 瓿店皽 鞁滌灔鞐愳劀鞚� 毵る弰電� 鞐嗢棃鞀惦媹雼�. 鞚� 鞓奠厴 攵�鞐棎 霐半ジ 氇摖 韺岇儩 歃濌秾鞚赌 鞕勳爠頌� 頄夓偓霅橃柎 雮澏� 鞓奠厴鞚赌 鞝勲顷╇媹雼�.
Formulaire 4 鈥� Cincinnati Financial Corp. (CINF)
Le vice-pr茅sident principal et COO de la filiale, Roger A. Brown, a d茅clar茅 plusieurs transactions le 31/07/2025. Il a exerc茅 3 100 options d'achat d'actions au prix d'exercice de 71,19 $ (Code M), acqu茅rant ainsi le m锚me nombre d'actions ordinaires. Pour couvrir la retenue d'imp么t, il a c茅d茅 2 176 actions au prix du march茅 de 148,83 $ (Code F), et a fait don de 2 000 actions sans contrepartie (Code G). 脌 la suite de ces op茅rations, Brown d茅tient directement 56 141 actions et poss猫de indirectement 14 596,256 actions au nom de ses enfants.
Cette s茅rie d'op茅rations entra卯ne une r茅duction nette modeste de 1 076 actions directes par rapport 脿 ses avoirs avant l'exercice, sans qu'aucune vente sur le march茅 ouvert n'ait eu lieu. Tous les titres d茅riv茅s de cette attribution d'options ont d茅sormais 茅t茅 enti猫rement exerc茅s, laissant aucune option restante.
Formular 4 鈥� Cincinnati Financial Corp. (CINF)
Der Senior Vice President & COO der Tochtergesellschaft, Roger A. Brown, meldete mehrere Transaktionen am 31.07.2025. Er 眉bte 3.100 Aktienoptionen zum Aus眉bungspreis von 71,19$ (Code M) aus und erhielt die gleiche Anzahl an Stammaktien. Zur Begleichung der Steuerabz眉ge ver盲u脽erte er 2.176 Aktien zum aktuellen Kurs von 148,83$ (Code F) und schenkte 2.000 Aktien unentgeltlich (Code G). Nach den Transaktionen h盲lt Brown direkt 56.141 Aktien und indirekt 14.596,256 Aktien f眉r seine Kinder.
Die Abfolge f眉hrt zu einer modestem Nettoabbau von 1.076 direkt gehaltenen Aktien gegen眉ber dem Bestand vor Aus眉bung, wobei kein Verkauf am offenen Markt stattfand. Alle derivativen Wertpapiere aus diesem Optionsgrant sind nun vollst盲ndig ausge眉bt, sodass keine Optionen mehr offenstehen.
- Option exercised well below market price, indicating insider captured intrinsic value and retains majority of acquired shares.
- No open-market sale; dispositions limited to tax withholding and a gift, suggesting neutral-to-positive insider sentiment.
- Net reduction of 1,076 direct shares signals slight decrease in immediate economic exposure, though immaterial relative to total holdings.
Insights
TL;DR: Routine option exercise; minor net share loss, no market sale 鈥� neutral signal.
The filing reflects standard compensation activity. Exercising at $71.19 versus a $148.83 market price captures embedded value, suggesting confidence in holding long-term. Share withholding is a tax mechanism, not discretionary selling, and the 2,000-share gift has no cash impact. Net share change (-1,076) is immaterial against CINF鈥檚 ~160 million shares outstanding. With the option grant now closed, overhang is slightly reduced. Overall, the disclosure neither strengthens nor weakens the investment thesis.
TL;DR: Insider retains sizable stake; actions align with normal equity-comp plan.
Brown maintains >56k direct shares, supporting alignment with shareholders. Gifted shares remain within family, preserving insider influence. Absence of discretionary sales limits negative optics. These facts indicate proper adherence to Section 16 reporting and Rule 10b5-1 safeguards. Governance risk unchanged.
Modulo 4 鈥� Cincinnati Financial Corp. (CINF)
Il vicepresidente senior e COO della controllata, Roger A. Brown, ha riportato diverse transazioni in data 31/07/2025. Ha esercitato 3.100 opzioni su azioni al prezzo di esercizio di 71,19$ (Codice M), acquisendo lo stesso numero di azioni ordinarie. Per soddisfare la ritenuta fiscale, ha venduto 2.176 azioni al prezzo corrente di 148,83$ (Codice F) e ha donato 2.000 azioni senza alcun corrispettivo (Codice G). Dopo queste operazioni, Brown possiede direttamente 56.141 azioni e detiene indirettamente 14.596,256 azioni per conto dei suoi figli.
La sequenza di operazioni comporta una modesta riduzione netta di 1.076 azioni dirette rispetto al posseduto prima dell鈥檈sercizio, senza per貌 alcuna vendita sul mercato aperto. Tutti i titoli derivati da questo grant di opzioni sono ora completamente esercitati, con zero opzioni residue ancora in essere.
Formulario 4 鈥� Cincinnati Financial Corp. (CINF)
El vicepresidente senior y COO de la subsidiaria, Roger A. Brown, report贸 m煤ltiples transacciones el 31/07/2025. Ejerci贸 3.100 opciones sobre acciones a un precio de ejercicio de 71,19$ (C贸digo M), agregando el mismo n煤mero de acciones comunes. Para cubrir la retenci贸n fiscal, vendi贸 2.176 acciones al precio vigente de 148,83$ (C贸digo F) y regal贸 2.000 acciones sin contraprestaci贸n (C贸digo G). Tras estas operaciones, Brown posee directamente 56.141 acciones y mantiene indirectamente 14.596,256 acciones en nombre de sus hijos.
La secuencia resulta en una reducci贸n neta moderada de 1.076 acciones directas respecto a las tenencias previas al ejercicio, sin que se haya realizado ninguna venta en el mercado abierto. Todos los valores derivados de esta concesi贸n de opciones est谩n ahora completamente ejercidos, quedando cero opciones pendientes.
靹滌嫕 4 鈥� Cincinnati Financial Corp. (CINF)
鞛愴殞靷� 靾橃劃 攵�靷灔 瓴� COO鞚� Roger A. Brown鞚赌 2025雲� 7鞗� 31鞚�鞐� 鞐煬 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 攴鸽姅 頄夓偓 臧�瓴� $71.19(旖旊摐 M)鞐� 3,100欤� 鞀ろ啞鞓奠厴鞚� 頄夓偓頃橃棳 霃欖澕頃� 靾橃潣 氤错喌欤茧ゼ 於旉皜搿� 旆摑頄堨姷雼堧嫟. 靹戈笀 鞗愳矞歆曥垬毳� 於╇嫻頃橁赴 鞙勴暣 順勳灛臧� $148.83(旖旊摐 F)搿� 2,176欤�毳� 觳橂秳頄堦碃, 2,000欤�電� 氍挫儊 歃濎棳頄堨姷雼堧嫟(旖旊摐 G). 鞚� 瓯半灅 鞚错泟 Brown鞚赌 歆侅爲 56,141欤�毳� 氤挫湢頃橁碃 鞛堨溂氅�, 鞛愲厐霌れ潉 鞙勴暣 臧勳爲鞝侅溂搿� 14,596.256欤�毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
鞚� 鞚茧牗鞚� 瓯半灅電� 頄夓偓 鞝� 氤挫湢 欤检嫕 雽�牍� 歆侅爲 氤挫湢 欤检嫕鞚� 靾滉皭靻� 1,076欤�搿� 靻岉彮 欷勳棃鞙茧倶, 瓿店皽 鞁滌灔鞐愳劀鞚� 毵る弰電� 鞐嗢棃鞀惦媹雼�. 鞚� 鞓奠厴 攵�鞐棎 霐半ジ 氇摖 韺岇儩 歃濌秾鞚赌 鞕勳爠頌� 頄夓偓霅橃柎 雮澏� 鞓奠厴鞚赌 鞝勲顷╇媹雼�.
Formulaire 4 鈥� Cincinnati Financial Corp. (CINF)
Le vice-pr茅sident principal et COO de la filiale, Roger A. Brown, a d茅clar茅 plusieurs transactions le 31/07/2025. Il a exerc茅 3 100 options d'achat d'actions au prix d'exercice de 71,19 $ (Code M), acqu茅rant ainsi le m锚me nombre d'actions ordinaires. Pour couvrir la retenue d'imp么t, il a c茅d茅 2 176 actions au prix du march茅 de 148,83 $ (Code F), et a fait don de 2 000 actions sans contrepartie (Code G). 脌 la suite de ces op茅rations, Brown d茅tient directement 56 141 actions et poss猫de indirectement 14 596,256 actions au nom de ses enfants.
Cette s茅rie d'op茅rations entra卯ne une r茅duction nette modeste de 1 076 actions directes par rapport 脿 ses avoirs avant l'exercice, sans qu'aucune vente sur le march茅 ouvert n'ait eu lieu. Tous les titres d茅riv茅s de cette attribution d'options ont d茅sormais 茅t茅 enti猫rement exerc茅s, laissant aucune option restante.
Formular 4 鈥� Cincinnati Financial Corp. (CINF)
Der Senior Vice President & COO der Tochtergesellschaft, Roger A. Brown, meldete mehrere Transaktionen am 31.07.2025. Er 眉bte 3.100 Aktienoptionen zum Aus眉bungspreis von 71,19$ (Code M) aus und erhielt die gleiche Anzahl an Stammaktien. Zur Begleichung der Steuerabz眉ge ver盲u脽erte er 2.176 Aktien zum aktuellen Kurs von 148,83$ (Code F) und schenkte 2.000 Aktien unentgeltlich (Code G). Nach den Transaktionen h盲lt Brown direkt 56.141 Aktien und indirekt 14.596,256 Aktien f眉r seine Kinder.
Die Abfolge f眉hrt zu einer modestem Nettoabbau von 1.076 direkt gehaltenen Aktien gegen眉ber dem Bestand vor Aus眉bung, wobei kein Verkauf am offenen Markt stattfand. Alle derivativen Wertpapiere aus diesem Optionsgrant sind nun vollst盲ndig ausge眉bt, sodass keine Optionen mehr offenstehen.
FAQ
How many Cincinnati Financial (CINF) shares did Roger Brown acquire?
What was the net change in Brown's direct CINF shareholding?
Did the insider sell any CINF shares on the open market?
How many shares does Brown now control indirectly?
Are any options still outstanding after this filing?
