Jerry Salinas - Aug 11, 2022 Form 4 Insider Report for CULLEN/FROST BANKERS, INC. (CFR)

Role
GEVP and CFO
Signature
/s/ Jerry Salinas, by power of attorney
Stock symbol
CFR
Transactions as of
Aug 11, 2022
Transactions value $
-$953,699
Form type
4
Date filed
8/15/2022, 11:13 AM
Previous filing
Mar 10, 2022
Next filing
Oct 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CFR Common Stock, $0.01 par value Options Exercise $655K +12K +43.18% $54.56 39.8K Aug 11, 2022 Direct
transaction CFR Common Stock, $0.01 par value Sale -$1.61M -12K -30.16% $134.03 27.8K Aug 11, 2022 Direct F1
holding CFR Common Stock, $0.01 par value 21 Aug 11, 2022 By Daughter F2
holding CFR Common Stock, $0.01 par value 25.7K Aug 11, 2022 Through 401(k) Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CFR Employee Stock Option (right to buy) Options Exercise $0 -12K -100% $0.00* 0 Aug 11, 2022 Common Stock 12K $54.56 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price in Column 4 is based on a weighted average price. The shares were sold based on a price range from $133.92 to $134.125. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F2 Mr. Salinas disclaims beneficial ownership of these shares.