Patrick B. Frost - Oct 23, 2022 Form 4 Insider Report for CULLEN/FROST BANKERS, INC. (CFR)

Role
President of Frost Bank, Director
Signature
/s/ Patrick B. Frost, by Susan Murr under POA
Stock symbol
CFR
Transactions as of
Oct 23, 2022
Transactions value $
-$103,150
Form type
4
Date filed
10/25/2022, 04:20 PM
Previous filing
Aug 8, 2022
Next filing
Oct 27, 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 $0 +1.85K +0.89% $0.00 209K Oct 23, 2022 Direct
transaction CFR Common Stock, $0.01 par value Tax liability -$103K -726 -0.35% $142.08 208K Oct 23, 2022 Direct
holding CFR Common Stock, $0.01 par value 251K Oct 23, 2022 Through Trust F1
holding CFR Common Stock, $0.01 par value 10.6K Oct 23, 2022 Through Trust F2
holding CFR Common Stock, $0.01 par value 16.9K Oct 23, 2022 Through Estate F3
holding CFR Common Stock, $0.01 par value 46.6K Oct 23, 2022 Through Trust F2
holding CFR Common Stock, $0.01 par value 630 Oct 23, 2022 By Spouse F4
holding CFR Common Stock, $0.01 par value 2.7K Oct 23, 2022 Through Trust F5
holding CFR Common Stock, $0.01 par value 121K Oct 23, 2022 Through Trust F6
holding CFR Common Stock, $0.01 par value 1.49K Oct 23, 2022 Through Limited Liability Company F7
holding CFR Common Stock, $0.01 par value 42K Oct 23, 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 Restricted Stock Units Options Exercise $0 -1.85K -100% $0.00* 0 Oct 23, 2022 Common Stock 1.85K Direct F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares of Common Stock by a trust of which Mr. Frost is the sole trustee and Mr. Frost and his siblings are beneficiaries. Mr. Frost disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
F2 Reflects shares of Common Stock held through a trust of which Mr. Frost is the sole trustee and Mr. Frost and his children are beneficiaries. Mr. Frost disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
F3 Reflects shares of Common Stock held through an estate of which Mr. Frost is the executor and a beneficiary. Mr. Frost disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
F4 Mr. Frost disclaims beneficial ownership of these shares.
F5 Reflects shares of Common Stock held by separate trusts of which Mr. Frost is the sole trustee and Mr. Frost's children are beneficiaries. Mr. Frost disclaims beneficial ownership of these shares.
F6 Reflects shares of Common Stock held through a trust of which Mr. Frost is the sole trustee and Mr. Frost and his siblings are beneficiaries. Mr. Frost disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
F7 Reflects shares of Common Stock held through a limited liability company of which Mr. Frost is the manager.
F8 Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
F9 Cliff vested four years from grant date of 10-23-2018.