PATRICK B. FROST - 24 Oct 2021 Form 4 Insider Report for CULLEN/FROST BANKERS, INC. (CFR)

Role
President of Frost Bank, Director
Signature
/s/ Patrick B. Frost
Issuer symbol
CFR
Transactions as of
24 Oct 2021
Transactions value $
-$79,705
Form type
4
Filing time
26 Oct 2021, 16:15:23 UTC
Next filing
28 Oct 2021
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 +1,643 +1.22% $0.000000 136,440 24 Oct 2021 Direct
transaction CFR Common Stock, $0.01 par value Tax liability -$79,705 -607 -0.44% $131.31 135,833 24 Oct 2021 Direct
holding CFR Common Stock, $0.01 par value 347,854 24 Oct 2021 Through Trust F1
holding CFR Common Stock, $0.01 par value 42,449 24 Oct 2021 Through Trust F2
holding CFR Common Stock, $0.01 par value 16,870 24 Oct 2021 Through Trust F3
holding CFR Common Stock, $0.01 par value 46,555 24 Oct 2021 Through Trust F4
holding CFR Common Stock, $0.01 par value 630 24 Oct 2021 By Spouse F5
holding CFR Common Stock, $0.01 par value 2,700 24 Oct 2021 Through Trust F6
holding CFR Common Stock, $0.01 par value 121,405 24 Oct 2021 Through Trust F7
holding CFR Common Stock, $0.01 par value 1,486 24 Oct 2021 Through Limited Liability Company F8
holding CFR Common Stock, $0.01 par value 334,452 24 Oct 2021 Through Trust F9
holding CFR Common Stock, $0.01 par value 40,736 24 Oct 2021 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 -1,643 -100% $0.000000* 0 24 Oct 2021 Common Stock 1,643 Direct F10, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects Common Stock and limited partnership interests held by a trust, established under the will of Mr. Frost's late father, of which Mr. Frost is the sole trustee and Mr. Frost's mother is the sole beneficiary. The number of shares reported assumes that each limited partnership interest represents a proportionate interest in the shares of Common Stock in which the limited partnership has a pecuniary interest.
F2 Reflects limited partnership interests held by a trust, established under the will of Mr. Frost's late father, of which Mr. Frost is the sole trustee and Mr. Frost's mother and Mr. Frost, his siblings, and the descendants of Mr. Frost and his siblings are beneficiaries. The number of shares reported assumes that each limited partnership interest represents a proportionate interest in the shares of Common Stock in which the limited partnership has a pecuniary interest.
F3 Reflects interests in a limited partnership and its general partner held by a trust of which Mr. Frost is the sole trustee and Mr. Frost's mother is sole beneficiary. The number of shares reported assumes that each interest represents a proportionate interest in the shares of Common Stock in which the limited partnership has a pecuniary interest.
F4 Reflects limited partnership interests held by a trust of which Mr. Frost is the sole trustee and Mr. Frost and his children are beneficiaries. The number of shares reported assumes that each limited partnership interest represents a proportionate interest in the shares of Common Stock in which the limited partnership has a pecuniary interest.
F5 Mr. Frost disclaims beneficial ownership of these shares.
F6 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.
F7 Reflects limited partnership interests held by a trust of which Mr. Frost is the sole trustee and Mr. Frost is a beneficiary. The number of shares reported assumes that each limited partnership interest represents a proportionate interest in the shares of Common Stock in which the limited partnership has a pecuniary interest. Mr. Frost disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
F8 Reflects interests in a limited liability company of which Mr. Frost is the manager. The number of shares reported assumes each limited liability company interest represents a proportionate interest in the shares of Common Stock in which the limited liability company has a pecuniary interest.
F9 Mr. Frost and his three brothers are co-trustees of this trust of which Mr. Frost's mother is sole beneficiary. Mr. Frost disclaims beneficial ownership of these shares.
F10 Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
F11 Generally vests after four years from grant date of 10-24-2017.