Cullen/Frost director granted 630 deferred stock units

John Howard Willome reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

John Howard Willome reported acquisition or exercise transactions in this Form 4 filing.

CULLEN/FROST BANKERS, INC. director John Howard Willome reported a compensation-related grant of derivative securities. He received 630 deferred stock units on common stock at a stated price of $0.00 per unit, increasing his directly held deferred stock units to 2,860.

Each deferred stock unit represents the right to receive one share of Cullen/Frost Bankers, Inc. common stock. The units vested on April 29, 2026, and shares will be delivered to Willome when he experiences a separation from service with the company, meaning this award defers actual share delivery until his service ends.

Insider Trade Summary

Grant/Award: 630 shares

Grant/Award 1 txn

Insider John Howard Willome

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	630	$0.00	$0.00

Holdings After Transaction: Deferred Stock Units — 2,860 contracts (Direct)

Footnotes (2)

1. F1. Each deferred stock unit represents the right to receive one share of Cullen/Frost Bankers, Inc. common stock.
2. F2. The deferred stock units vested on April 29, 2026. Shares will be delivered to the reporting person on the date when the reporting person experiences a separation from service with Cullen/Frost Bankers, Inc.

Key Figures

Deferred stock units granted: 630 units Deferred stock units after grant: 2,860 units Grant price per unit: $0.00 +1 more

4 metrics

Deferred stock units granted 630 units Grant to director John Howard Willome on April 29, 2026

Deferred stock units after grant 2,860 units Total directly held by John Howard Willome following transaction

Grant price per unit $0.00 Reported transaction price per deferred stock unit

Vesting date April 29, 2026 Date deferred stock units vested

Key Terms

Deferred Stock Units, grant/award acquisition, separation from service, underlying security

4 terms

Deferred Stock Units financial

"security_title: "Deferred Stock Units""

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

grant/award acquisition financial

"transaction_action: "grant/award acquisition""

separation from service financial

"on the date when the reporting person experiences a separation from service"

underlying security financial

"underlying_security_title: "Common Stock""

FAQ

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

What insider transaction did CFR director John Howard Willome report?

John Howard Willome reported receiving 630 deferred stock units tied to Cullen/Frost Bankers, Inc. common stock. This is a compensation-related grant, not an open-market trade, and increases his total directly held deferred stock units to 2,860.

What are the terms of John Howard Willome’s deferred stock units at CFR?

Each deferred stock unit gives John Howard Willome the right to receive one share of Cullen/Frost common stock. The units vested on April 29, 2026, with share delivery deferred until he experiences a separation from service with the company.

Did John Howard Willome buy or sell CFR shares in the market?

He did not buy or sell shares in the open market. The Form 4 shows an acquisition of 630 deferred stock units as a grant or award, recorded at a price of $0.00 per unit as part of his director compensation.

How many deferred stock units in CFR does John Howard Willome hold after this grant?

After receiving the 630-unit grant, John Howard Willome directly holds 2,860 deferred stock units linked to Cullen/Frost common stock. Each unit represents a future right to one share, with actual delivery upon his separation from service.

When will John Howard Willome receive CFR shares from these deferred stock units?

He will receive the underlying Cullen/Frost common shares when he experiences a separation from service with the company. The deferred stock units vested on April 29, 2026, but delivery of shares is postponed until his service with the bank ends.

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

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Accepted by SEC EDGAR 05/27/2026 - 02:00 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^*

John Howard Willome

(Last) (First) (Middle)

111 WEST 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

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

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
Deferred Stock Units	(1)	04/29/2026		A		630		(2)	(2)	Common Stock	630	$0	2,860	D

Explanation of Responses:

1. Each deferred stock unit represents the right to receive one share of Cullen/Frost Bankers, Inc. common stock.

2. The deferred stock units vested on April 29, 2026. Shares will be delivered to the reporting person on the date when the reporting person experiences a separation from service with Cullen/Frost Bankers, Inc.

Remarks:

	/s/ John H. Willome by Kirsten Irwin under POA	05/27/2026
	** 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)