Cullen/Frost CFO Dan Geddes receives 2,004 shares

Q: How many CFR shares did Dan Geddes receive from restricted stock units?

Dan Geddes acquired 2,004 common shares on October 24, 2026, through the conversion of 2,004 restricted stock units. Each unit represents the right to receive one Cullen/Frost common share, and the units cliff vested three years from grant.

Q: What does Dan Geddes's CFR Form 4 report about the 789 shares?

It reports 789 common shares delivered or withheld for payment of exercise price or tax liability on October 24, 2026, at a reported price of $157.05 per share. No Rule 10b5-1 plan is reported.

The company's CFO reported 7,889 shares held indirectly through a 401(k) plan, alongside a 789-share delivery or withholding.

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Rhea-AI Filing Summary

Cullen/Frost Bankers, Inc. GEVP & Chief Financial Officer Dan Geddes reported converting 2,004 restricted stock units into 2,004 common shares on October 24, 2026. Each unit represents the right to receive one common share, and the units cliff vested three years from grant. On the same date, 789 shares were delivered or withheld for payment of exercise price or tax liability, at a reported $157.05 per share. Geddes also reported 7,889 shares held indirectly through a 401(k) plan. No Rule 10b5-1 plan is reported.

Insider Trade Summary

2,004 shares exercised/converted

Exercise 4 txns

Insider Geddes Dan

Role GEVP & Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units ^{F2, F3}	2,004	$0.00	$0.00
Exercise	Common Stock, $0.01 par value ^F1	2,004	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock, $0.01 par value	789	$157.05	$124K
holding	Common Stock, $0.01 par value	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock, $0.01 par value — 4,523 shares (Direct); Common Stock, $0.01 par value — 7,889.431 shares (Indirect, Through 401(k) Plan)

Footnotes (3)

F1. Includes 150 shares acquired through the Cullen/Frost Bankers, Inc. Thrift Stock Plan.
F2. Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
F3. Cliff vested three years from the date of grant.

Key Figures

Restricted stock units converted: 2,004 units Common shares acquired: 2,004 shares Shares delivered or withheld: 789 shares +3 more

6 metrics

Restricted stock units converted 2,004 units October 24, 2026

Common shares acquired 2,004 shares October 24, 2026

Shares delivered or withheld 789 shares For payment of exercise price or tax liability on October 24, 2026

Reported price per share $157.05 per share 789-share delivery or withholding transaction on October 24, 2026

Indirect common stock holdings 7,889 shares Held through a 401(k) plan on October 24, 2026

Cliff vesting period 3 years From the date of grant

Key Terms

restricted stock units, cliff vested, exercise price or tax liability

3 terms

restricted stock units financial

"2,004 restricted stock units"

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"

exercise price or tax liability financial

"payment of exercise price or tax liability"

FAQ

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

How many CFR shares did Dan Geddes receive from restricted stock units?

Dan Geddes acquired 2,004 common shares on October 24, 2026, through the conversion of 2,004 restricted stock units. Each unit represents the right to receive one Cullen/Frost common share, and the units cliff vested three years from grant.

What does Dan Geddes's CFR Form 4 report about the 789 shares?

It reports 789 common shares delivered or withheld for payment of exercise price or tax liability on October 24, 2026, at a reported price of $157.05 per share. No Rule 10b5-1 plan is reported.

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

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Available on EDGAR 10/26/2026 - 05:25 PM EDT Accepted by SEC EDGAR 10/26/2026 - 05:24 PM EDT

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^*

Geddes Dan

(Last)

(First)

(Middle)

111 WEST HOUSTON ST

(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 & Chief Financial Officer

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.01 par value	10/24/2026		M		2,004	A	$0	5,312⁽¹⁾	D
Common Stock, $0.01 par value	10/24/2026		F		789	D	$157.05	4,523	D
Common Stock, $0.01 par value								7,889.431	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽²⁾	10/24/2026		M			2,004	⁽³⁾	⁽³⁾	Common Stock, $0.01 par value	2,004	$0	0	D

Explanation of Responses:

1. Includes 150 shares acquired through the Cullen/Frost Bankers, Inc. Thrift Stock 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/ Daniel J. Geddes 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)

Source: View Original Filing on SEC EDGAR