Cullen/Frost Bankers (CFR) officer reports stock sale and gift in Form 4

Rhea-AI Filing Summary

Cullen/Frost Bankers executive reports stock sale and gift

A Group Executive Vice President and General Counsel of Cullen/Frost Bankers, Inc. reported routine changes in company stock ownership. On 12/09/2025, the insider sold 700 shares of common stock at $127 per share. On the same date, the insider reported a gift of 495 shares of common stock at a reported price of $0, reflecting a transfer rather than an open-market sale.

After these transactions, the insider directly owned 3,300 shares of Cullen/Frost common stock, and an additional 733.933 shares were held indirectly through a 401(k) plan. The filing indicates it was submitted for one reporting person in the role of officer, serving as Group EVP, General Counsel and Secretary.

Insider Trade Summary

Net Seller: 700 shares ($88,900)

Net Sell 3 txns

Insider Rhodes Coolidge E JR

Role Group EVP General Counsel/Sec

Sold 700 shs ($89K)

Type	Security	Shares	Price	Value
Sale	Common Stock, $0.01 par value	700	$127.00	$89K
Gift	Common Stock, $0.01 par value	495	$0.00	--
holding	Common Stock, $0.01 par value	--	--	--

Holdings After Transaction: Common Stock, $0.01 par value — 3,795 shares (Direct); Common Stock, $0.01 par value — 733.933 shares (Indirect, Through 401(k) Plan)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rhodes Coolidge E JR

(Last) (First) (Middle)

111 WEST HOUSTON STREET

(Street)

SAN ANTONIO TX 78205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CULLEN/FROST BANKERS, INC. [ CFR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Group EVP General Counsel/Sec

3. Date of Earliest Transaction (Month/Day/Year)
12/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.01 par value	12/09/2025		S		700	D	$127	3,795	D
Common Stock, $0.01 par value	12/09/2025		G		495	D	$0	3,300	D
Common Stock, $0.01 par value								733.933	I	Through 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/ Coolidge E. Rhodes, Jr. by Kirsten Irwin under POA	12/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Cullen/Frost Bankers (CFR) report on December 9, 2025?

On 12/09/2025, a Cullen/Frost Bankers, Inc. officer reported selling 700 shares of common stock at $127 per share and reporting a gift of 495 shares.

Who is the reporting person in this Cullen/Frost Bankers (CFR) Form 4 filing?

The reporting person is an officer of Cullen/Frost Bankers, Inc., serving as Group EVP, General Counsel and Secretary.

How many Cullen/Frost Bankers (CFR) shares does the insider own after the reported transactions?

Following the reported transactions, the insider directly owned 3,300 shares of common stock and indirectly held 733.933 shares through a 401(k) plan.

What types of transactions were disclosed in this Cullen/Frost Bankers (CFR) Form 4?

The Form 4 discloses a sale of 700 shares at $127 per share and a gift of 495 shares of Cullen/Frost Bankers common stock.

Does this Cullen/Frost Bankers (CFR) Form 4 involve derivative securities?

No derivative securities are listed; the filing’s activity relates to non-derivative common stock only, with no entries in the derivative securities table.

Is this Cullen/Frost Bankers (CFR) Form 4 filed for multiple reporting persons?

No. The document indicates it is a Form filed by one reporting person, not a joint or group filing.