PATRICK B. FROST - 23 Oct 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
Issuer symbol
CFR
Transactions as of
23 Oct 2022
Transactions value $
-$103,150
Form type
4
Filing time
25 Oct 2022, 16:20:35 UTC
Previous filing
08 Aug 2022
Next filing
27 Oct 2022
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 +1,846 +0.89% $0 208,529 23 Oct 2022 Direct
transaction CFR Common Stock, $0.01 par value Tax liability -$103,150 -726 -0.35% $142.08 207,803 23 Oct 2022 Direct
holding CFR Common Stock, $0.01 par value 251,450 23 Oct 2022 Through Trust F1
holding CFR Common Stock, $0.01 par value 10,612 23 Oct 2022 Through Trust F2
holding CFR Common Stock, $0.01 par value 16,870 23 Oct 2022 Through Estate F3
holding CFR Common Stock, $0.01 par value 46,555 23 Oct 2022 Through Trust F2
holding CFR Common Stock, $0.01 par value 630 23 Oct 2022 By Spouse F4
holding CFR Common Stock, $0.01 par value 2,700 23 Oct 2022 Through Trust F5
holding CFR Common Stock, $0.01 par value 121,405 23 Oct 2022 Through Trust F6
holding CFR Common Stock, $0.01 par value 1,486 23 Oct 2022 Through Limited Liability Company F7
holding CFR Common Stock, $0.01 par value 42,030 23 Oct 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 -1,846 -100% $0* 0 23 Oct 2022 Common Stock 1,846 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.