Carol Jean Severyn - 25 Oct 2025 Form 4 Insider Report for CULLEN/FROST BANKERS, INC. (CFR)

Role
GEVP and Chief Risk Officer
Signature
/s/ Carol J. Severyn, by Kirsten Irwin under POA
Issuer symbol
CFR
Transactions as of
25 Oct 2025
Net transactions value
-$100,387
Form type
4
Filing time
27 Oct 2025, 12:40:59 UTC
Previous filing
25 Aug 2025
Next filing
30 Oct 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Severyn Carol Jean GEVP and Chief Risk Officer 111 WEST HOUSTON STREET, SAN ANTONIO /s/ Carol J. Severyn, by Kirsten Irwin under POA 27 Oct 2025 0001767197

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 +2,045 +18% $0.000000 13,146 25 Oct 2025 Direct
transaction CFR Common Stock, $0.01 par value Tax liability $100,387 -804 -6.1% $124.86 12,342 25 Oct 2025 Direct
holding CFR Common Stock, $0.01 par value 9,201 25 Oct 2025 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 -2,045 -100% $0.000000 0 25 Oct 2025 Common Stock 2,045 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 three years from grant date of 10/25/2022.