Bobby Berman - Oct 25, 2025 Form 4 Insider Report for CULLEN/FROST BANKERS, INC. (CFR)

Role
GEVP Research & Strategy
Signature
/s/ Bobby Berman, by Kirsten Irwin under POA
Stock symbol
CFR
Transactions as of
Oct 25, 2025
Transactions value $
-$76,914
Form type
4
Date filed
10/27/2025, 12:32 PM
Previous filing
Feb 7, 2025
Next filing
Oct 30, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Berman Bobby GEVP Research & Strategy 111 WEST HOUSTON STREET, SAN ANTONIO /s/ Bobby Berman, by Kirsten Irwin under POA 2025-10-27 0001388767

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 +1.57K +5.56% $0.00 29.9K Oct 25, 2025 Direct
transaction CFR Common Stock, $0.01 par value Tax liability -$76.9K -616 -2.06% $124.86 29.2K Oct 25, 2025 Direct
holding CFR Common Stock, $0.01 par value 18.9K Oct 25, 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 -1.57K -100% $0.00 0 Oct 25, 2025 Common Stock 1.57K 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.