Cullen/Frost (NYSE: CFR) director reports bona fide 750-share stock gift

Rhea-AI Filing Summary

CULLEN/FROST BANKERS, INC. director Crawford H. Edwards reported a bona fide gift of 750 shares of common stock on March 9, 2026, with no sale proceeds.

After this gift, he holds 50,732 shares directly, 76,617 shares through the Crawford Hearne Edwards 2012 Irrevocable Trust, and 53,617 shares as trustee for his sister’s 2012 irrevocable trust.

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

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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^*

EDWARDS CRAWFORD H

(Last) (First) (Middle)

111 WEST HOUSTON STREET

SUITE 100

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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	03/09/2026		G		750	D	$0	50,732	D
Common Stock, $0.01 par value								76,617	I	Through Trust(1)
Common Stock, $0.01 par value								53,617	I	As Trustee for Sister(2)

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:

1. Crawford H. Edwards is trustee and beneficiary of the Crawford Hearne Edwards 2012 Irrevocable Trust.

2. Crawford H. Edwards is one of three co-trustees of the Mary Martha Edwards Richter 2012 Irrevocable Trust (trust for benefit of Crawford's sister).

Remarks:

	/s/ Crawford H. Edwards by Lee Whitley under POA	03/16/2026
	** 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.

FAQ

What insider transaction did CFR director Crawford H. Edwards report?

Crawford H. Edwards reported a bona fide gift of 750 shares of Cullen/Frost Bankers common stock. The transaction used code G, meaning it was a gift transfer at a price of $0.00 per share, rather than an open-market sale or purchase.

How many CFR shares does Crawford H. Edwards own after this Form 4?

After the reported gift, Crawford H. Edwards holds 50,732 Cullen/Frost shares directly. In addition, he is trustee and beneficiary of a 2012 irrevocable trust holding 76,617 shares and co-trustee of his sister’s 2012 irrevocable trust holding 53,617 shares.

Was the Cullen/Frost (CFR) insider transaction a sale or a gift?

The reported insider transaction was a bona fide gift, not a sale. It is coded G, indicating 750 shares of Cullen/Frost common stock were transferred without consideration, so it does not represent an open-market sell order or cash-raising event.

What types of ownership did Crawford H. Edwards report in CFR stock?

Crawford H. Edwards reported direct ownership of Cullen/Frost common stock and two indirect positions. He serves as trustee and beneficiary of the Crawford Hearne Edwards 2012 Irrevocable Trust and as one of three co-trustees of his sister’s 2012 irrevocable trust.

Does this CFR Form 4 show any option exercises or derivative trades?

This Form 4 shows no option exercises or other derivative transactions. All entries relate to Cullen/Frost common stock, with one bona fide gift of 750 shares and two lines reflecting updated indirect holdings through 2012 irrevocable trusts associated with Crawford H. Edwards.