Cintas CEO Todd M. Schneider sold 35,599 shares of company stock on August 10 in a non-discretionary sell-to-cover transaction to satisfy tax withholding obligations tied to vesting restricted stock awards. The sale was valued at $7.2 million based on a weighted average price of $202.71 per share, leaving Schneider with 691,407 directly held shares and 3,466 indirectly held shares. His combined stake of 694,873 shares was worth about $140.9 million at the time, representing close to 0.2% of the company, which has a market capitalization of $82.1 billion. The filing comes as Cintas pursues its acquisition of rival UniFirst, a deal currently under an FTC second request that could reshape the uniform services industry if approved. Cintas reported fiscal fourth-quarter revenue of $2.91 billion, up 8.9% year over year, with a record 51% gross margin.
Unifirst CorporationFTC second request on Cintas' acquisition of UniFirst creates regulatory uncertainty for UniFirst.
Cintas CorporationCEO's sell-to-cover for taxes is routine, not a signal; deal review and strong earnings are context.
