Cullen/Frost (CFR) officer granted 4,260 RSUs; 3-year vest

Cullen/Frost Bankers (CFR) reported an insider equity grant.

Rhea-AI Filing Summary

Cullen/Frost Bankers (CFR) reported an insider equity grant. Officer Annette M. Alonzo (GEVP Chief HR Officer) received 4,260 restricted stock units on 10/28/2025, reported on Form 4 with code A.

Each RSU represents one share of common stock and will cliff vest three years from the grant date. The RSUs were reported at a price of $0 and are held as direct ownership.

Insights

Equity compensation analyst

Routine RSU grant: modest, time-based vesting.

Cullen/Frost Bankers disclosed a grant of 4,260 RSUs to an executive on 10/28/2025 (code A). Each unit converts into one common share upon vesting, aligning compensation with long-term stock performance.

The award cliff vests three years from grant, encouraging retention. No cash price is attached ($0), which is typical for RSUs. Ownership is reported as direct.

This is a standard executive compensation event; actual impact depends on future vesting and share delivery mechanics as disclosed in subsequent filings.

Insider Trade Summary

Grant/Award: 4,260 shares

Grant/Award 1 txn

Insider Alonzo Annette M

Role GEVP Chief HR Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	4,260	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 4,260 contracts (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
2. F2. Cliff vests three years from the date of grant.

FAQ

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

What did Cullen/Frost (CFR) disclose in this Form 4?

A grant of 4,260 restricted stock units to officer Annette M. Alonzo on 10/28/2025 (transaction code A).

Who is the reporting person in CFR’s Form 4?

Officer Annette M. Alonzo, listed as GEVP Chief HR Officer.

How many RSUs were granted and what do they represent?

4,260 RSUs, each representing the right to receive one share of common stock.

What is the vesting schedule for the CFR RSUs?

The award cliff vests three years from the 10/28/2025 grant date.

What price was reported for the RSUs?

The RSUs were reported at a price of $0, consistent with RSU grants.

Is the ownership direct or indirect after the transaction?

The Form 4 reports direct (D) ownership of 4,260 derivative securities (RSUs).

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 10/30/2025 - 05:09 PM 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^*

Alonzo Annette M

(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)
	GEVP Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2025

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

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	(1)	10/28/2025		A		4,260		(2)	(2)	Common Stock, $0.01 par value	4,260	$0	4,260	D

Explanation of Responses:

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

2. Cliff vests three years from the date of grant.

Remarks:

	/s/ Annette M. Alonzo, by Kirsten Irwin under POA	10/30/2025
	** 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.