Cullen/Frost CEO receives 19,752-unit stock grant

Each restricted stock unit represents the right to receive one common share, with the award cliff vesting three years after its grant date.

Available on EDGAR 10/29/2026 - 03:17 PM EDT Accepted by SEC EDGAR 10/29/2026 - 03:16 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Cullen/Frost Bankers, Inc. (CFR) granted Chairman and CEO Phillip D. Green 19,752 restricted stock units on October 27, 2026. Each unit represents the right to receive one share of Cullen/Frost common stock, and the award cliff vests three years from the grant date. Green’s reported direct RSU position after the grant was 19,752 units.

Insider Trade Summary

Grant/Award: 19,752 shares

Grant/Award 1 txn

Insider GREEN PHILLIP D

Role Chairman and CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units F1, F2	19,752	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 19,752 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.

Key Figures

Restricted stock units granted: 19,752 units Common shares per restricted stock unit: 1 share Cliff vesting period: 3 years +1 more

4 metrics

Restricted stock units granted 19,752 units Granted October 27, 2026

Common shares per restricted stock unit 1 share Each unit represents the right to receive one share

Cliff vesting period 3 years From the date of grant

Direct RSU position after transaction 19,752 units Reported after the October 27, 2026 grant

Key Terms

restricted stock unit, cliff vests, par value

3 terms

restricted stock unit financial

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

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

cliff vests financial

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

par value financial

"Common Stock, $0.01 par value"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

FAQ

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

How many restricted stock units did CFR’s CEO receive?

Chairman and CEO Phillip D. Green was granted 19,752 restricted stock units on October 27, 2026. His reported direct RSU position after the grant was 19,752 units.

When do CFR’s CEO’s restricted stock units vest?

The 19,752 restricted stock units cliff vest three years from the October 27, 2026 grant date. Each unit represents the right to receive one share of Cullen/Frost common stock.

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

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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^*

GREEN PHILLIP D

(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
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2026

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
Restricted Stock Units	(1)	10/27/2026		A		19,752		(2)	(2)	Common Stock, $0.01 par value	19,752	$0	19,752	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/ Phillip D. Green, by Kirsten Irwin under POA	10/29/2026
	** 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)