Howard L. Kasanoff - 29 Oct 2023 Form 4 Insider Report for CULLEN/FROST BANKERS, INC. (CFR)

Role: GEVP Chief Credit Officer
Signature: s/ Howard L. Kasanoff by Susan Murr under POA
Issuer symbol: CFR
Transactions as of: 29 Oct 2023
Net transactions value: $0
Form type: 4
Filing time: 30 Oct 2023, 15:19:14 UTC
Previous filing: 26 Oct 2023
Next filing: 01 Aug 2024
SEC: View on sec.gov

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	+851	+133%	$0.000000	1,490	29 Oct 2023	Direct
holding	CFR	Common Stock, $0.01 Par Value						2,982	29 Oct 2023	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	+851		$0.000000	851	29 Oct 2023	Common Stock	851		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
F2	Cliff vested four years from grant date of 10-29-2019.