X0306 4 2017-02-10 0000020286 CINCINNATI FINANCIAL CORP CINF 0001184041 JOHNSTON STEVEN J 6200 SOUTH GILMORE RD FAIRFIELD OH 45014-5141 1 1 President & CEO Common Stock 70377 D Employee Stock Option (Right to Buy) 70.70 2017-02-10 4 A 0 76484 70.70 A 2018-02-10 2027-02-10 Common Stock 76484 76484 D Restricted Stock Units 0 2017-02-10 4 A 0 23340 0 A Common Stock 23340 23340 D Restricted Stock Units 0 2017-02-10 4 A 0 3537 0 A Common Stock 3537 3537 D Phantom Stock Shares 0 Common Stock 81796 81796 D The option vests in three annual installments beginning on the first anniversary of the date of grant. The restricted stock units vest March 1, 2020, as set forth in the grant agreement, if performance goals are met. The number of restricted stock units shown is the maximum number of such units that may vest. The restricted stock units vest in three annual installments on March 1, as set forth in the grant agreement, if service requirements are met. The reported phantom stock shares were acquired under the company's Top Hat Savings Plan, an "Excess Benefits Plan" within the meaning of Rule 16b-3(b)(2), and are to be settled upon the reporting person's retirement or other termination of service. The reporting person may transfer the value of his phantom stock shares into an alternative investment selection within the plan. /s/ Steven J Johnston 2017-02-14