Judith Wawroski - Jul 14, 2022 Form 4 Insider Report for INTERNATIONAL BANCSHARES CORP (IBOC)

Role: TREASURER/PAO
Signature: /s/ JUDITH I WAWROSKI
Stock symbol: IBOC
Transactions as of: Jul 14, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/10/2023, 04:17 PM
Previous filing: Feb 22, 2022
Next filing: Aug 15, 2022

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	IBOC	STOCK APPRECIATION RIGHTS	Award	$0	+4K		$0.00	4K	Jul 14, 2022	COMMON STOCK	4K	$39.33	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	These stock appreciation rights (these "SARs") were granted to the reporting person pursuant to the 2022 International Bancshares Corporation Stock Appreciation Rights Plan and a Stock Appreciation Rights Award Agreement between International Bancshares Corporation (the "Company") and the reporting person. These SARs represent the right to receive, upon exercise, a cash amount equal to the number of shares of the Company's common stock, par value $1.00 per share (the "Common Stock"), underlying the SARs being exercised multiplied by the excess of the fair market value of one share of Common Stock on (i) the date the SARs are exercised, and (ii) July 14, 2022, the date the SARs were granted (the "Grant Date").
F2	These SARs are subject to a seven-year vesting schedule and become exercisable in six percentage installments, vesting 5% on the second anniversary of the Grant Date, and 10%, 15%, 20%, 25%, and 25% on each respective anniversary of the Grant Date thereafter.

Content

These stock appreciation rights (these "SARs") were granted to the reporting person pursuant to the 2022 International Bancshares Corporation Stock Appreciation Rights Plan and a Stock Appreciation Rights Award Agreement between International Bancshares Corporation (the "Company") and the reporting person. These SARs represent the right to receive, upon exercise, a cash amount equal to the number of shares of the Company's common stock, par value $1.00 per share (the "Common Stock"), underlying the SARs being exercised multiplied by the excess of the fair market value of one share of Common Stock on (i) the date the SARs are exercised, and (ii) July 14, 2022, the date the SARs were granted (the "Grant Date").

These SARs are subject to a seven-year vesting schedule and become exercisable in six percentage installments, vesting 5% on the second anniversary of the Grant Date, and 10%, 15%, 20%, 25%, and 25% on each respective anniversary of the Grant Date thereafter.