Cullen/Frost's Pullin converts award into 707 shares

Each restricted stock unit represented the right to receive one Cullen/Frost common share and cliff vested three years from the date of grant.

Rhea-AI Filing Summary

Cullen/Frost Bankers, Inc. executive Ericka Lynn Pullin, GEVP, Culture & People Dev., reported converting 707 restricted stock units into 707 common shares on October 24, 2026. She also reported 272 shares delivered or withheld for payment of exercise price or tax liability, at $157.05 per share. Pullin reported 4,240.459 common shares held indirectly through the 401(k) Plan as of October 24, 2026.

Insider Trade Summary

707 shares exercised/converted

Exercise 4 txns

Insider Pullin Ericka Lynn

Role GEVP, Culture & People Dev.

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F2, F3	707	$0.00	$0.00
Exercise	Common Stock, $0.01 par value F1	707	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock, $0.01 par value	272	$157.05	$43K
holding	Common Stock, $0.01 par value	--	--	--

Holdings After Transaction: Restricted Stock Units — 707 contracts (Direct); Common Stock, $0.01 par value — 2,464.568 shares (Direct); Common Stock, $0.01 par value — 4,240.459 shares (Indirect, Through 401(k) Plan)

Footnotes (3)

1. F1. Includes 5.489 shares acquired from a Dividend Reinvestment Plan.
2. F2. Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
3. F3. Cliff vested three years from the date of grant.

Key Figures

Restricted stock units converted: 707 units Common shares acquired: 707 shares Shares delivered or withheld: 272 shares +4 more

7 metrics

Restricted stock units converted 707 units October 24, 2026

Common shares acquired 707 shares Upon restricted stock unit conversion on October 24, 2026

Shares delivered or withheld 272 shares For payment of exercise price or tax liability on October 24, 2026

Reported per-share price $157.05 per share 272-share payment-related disposition

Indirect common shares held 4,240.459 shares Through the 401(k) Plan as of October 24, 2026

Shares per restricted stock unit 1 share Each unit represents the right to receive one common share

Cliff vesting period 3 years From the date of grant

Key Terms

Restricted Stock Units, cliff vested, Dividend Reinvestment Plan

3 terms

Restricted Stock Units financial

"Each restricted stock unit represents the right to receive one share"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

cliff vested financial

"Cliff vested three years from the date of grant."

Dividend Reinvestment Plan financial

"shares acquired from a Dividend Reinvestment Plan."

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What CFR stock transactions did Ericka Lynn Pullin report?

Ericka Lynn Pullin reported converting 707 restricted stock units into 707 common shares on October 24, 2026, and 272 shares delivered or withheld for payment of exercise price or tax liability at $157.05 per share. No Rule 10b5-1 plan is reported.

What were the terms of Ericka Lynn Pullin’s CFR restricted stock units?

Each restricted stock unit represented the right to receive one share of Cullen/Frost common stock. The units cliff vested three years from the date of grant.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/26/2026 - 05:23 PM EDT Accepted by SEC EDGAR 10/26/2026 - 05:22 PM EDT Learn about SEC filing dates

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^*

Pullin Ericka Lynn

(Last) (First) (Middle)

111 W. HOUSTON STREET

(Street)

SAN ANTONIO TEXAS 78205

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	GEVP, Culture & People Dev.

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/24/2026

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

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

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

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	10/24/2026		M		707	A	$0	2,736.568(1)	D
Common Stock, $0.01 par value	10/24/2026		F		272	D	$157.05	2,464.568	D
Common Stock, $0.01 par value								4,240.459	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
Restricted Stock Units	$0(2)	10/24/2026		M		707		(3)	(3)	Common Stock, $0.01 par value	707	$0	707	D

Explanation of Responses:

1. Includes 5.489 shares acquired from a Dividend Reinvestment Plan.

2. Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.

3. Cliff vested three years from the date of grant.

Remarks:

	/s/ Ericka L. Pullin by Kirsten Irwin under POA	10/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)