IBOC insider sells 120,000 shares at ~$69.8 and $68.1 per share

Antonio R. Sanchez Jr., a director and 10% owner of International Bancshares Corp (IBOC), reported dispositions of company common stock in two transactions.

Rhea-AI Filing Summary

Antonio R. Sanchez Jr., a director and 10% owner of International Bancshares Corp (IBOC), reported dispositions of company common stock in two transactions. The Form 4 shows sales of 80,000 shares on 08/14/2025 at a weighted average price of $69.83 and 40,000 shares on 08/15/2025 at a weighted average price of $68.12, for a total of 120,000 shares sold. The filing lists multiple holdings across direct and indirect vehicles, including a direct position of 1,805,554 shares and several indirect positions held in trust and partnership; the record shows beneficial ownership figures of 487,439 and 447,439 shares associated with partnership holdings following the reported sales. The reporting person certified the transactions and provided price-range explanations for the weighted averages.

Positive

• Timely, detailed disclosure of insider sales including transaction codes, share counts, and weighted-average prices
• Clear reporting of multiple ownership forms (direct, trust, grandchildren's trust, partnership) aiding transparency

Negative

• Insider dispositions totaling 120,000 shares could be perceived negatively by some investors given the reporting person’s director and 10% owner status
• Weighted-average pricing requires further breakdown of individual trade prices, though the filer offers to provide that information upon request

Insights

Securities Analyst

TL;DR: Director sold 120,000 IBOC shares in two transactions, disclosed weighted-average sale prices and post-sale beneficial holdings.

The Form 4 precisely documents two open-market dispositions totaling 120,000 shares at weighted average prices of $69.83 and $68.12. The filing also enumerates the reporting person’s mix of direct and indirect ownership across trusts and partnerships and shows updated beneficial-ownership figures tied to partnership holdings after the sales. From a trading-disclosure standpoint the form is complete: transaction codes, amounts, and explanatory price ranges are provided, enabling verification of execution details upon request.

Corporate Governance Expert

TL;DR: Insider sales were disclosed in compliance with Section 16; filings show diversified ownership through trusts and partnerships.

The report confirms timely Section 16 disclosure of insider sales by a director and 10% owner, with the signer attesting to the filing. The statement clarifies multiple beneficial-ownership vehicles including trusts and a grandchildren’s trust, which is relevant for understanding control and voting relationships. The filing does not state any change to board or officer status and contains standard explanatory language about weighted-average pricing for multiple trades.

Insider Trade Summary

Net Seller: 120,000 shares

Net Sell 5 txns

Insider SANCHEZ ANTONIO R JR

Role Director, 10% Owner

Sold 120,000 shs ($8.31M)

Type	Security	Shares	Price	Value
Sale	Common Stock	40,000	$68.12	$2.72M
Sale	Common Stock	80,000	$69.83	$5.59M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 447,439 shares (Indirect, Held in Partnership); Common Stock — 1,805,554 shares (Direct); Common Stock — 1,232,245 shares (Indirect, Held in Trust); Common Stock — 9,000 shares (Indirect, Held by Grandchildren's Trust)

Footnotes (2)

1. F1. This transaction was executed in multiple trades at prices ranging from $69.19 to $70.35. The price reported above reflects the weighted average sale price. Upon request, the reporting person hereby undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.
2. F2. This transaction was executed in multiple trades at prices ranging from $67.73 to $69.09. The price reported above reflects the weighted average sale price. Upon request, the reporting person hereby undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

FAQ

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

What insider transactions did Antonio R. Sanchez Jr. report on Form 4 for IBOC?

The Form 4 reports sales of 80,000 shares on 08/14/2025 at a weighted average price of $69.83 and 40,000 shares on 08/15/2025 at a weighted average price of $68.12.

How many shares does the reporting person hold after the reported transactions?

The filing lists beneficial-ownership figures associated with partnership holdings of 487,439 and 447,439 shares following the reported transactions, and also shows a direct position of 1,805,554 shares and other indirect holdings in trusts.

Did the Form 4 indicate the nature of indirect holdings for IBOC?

Yes. The filing identifies indirect holdings as Held in Trust, Held by Grandchildren's Trust, and Held in Partnership.

Are detailed per-trade prices available in the filing?

The filing provides weighted-average sale prices and notes that the transactions were executed in multiple trades with price ranges; the reporting person offers to supply full per-trade price and quantity information upon request.

Does the Form 4 show any change in the reporting person’s relationship to IBOC?

No. The filing continues to list the reporting person as a Director and a 10% Owner; no officer or board-status changes are indicated.

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 08/15/2025 - 05:25 PM EDT 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^*

SANCHEZ ANTONIO R JR

(Last) (First) (Middle)

P.O. BOX 2986

(Street)

LAREDO TX 78044

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INTERNATIONAL BANCSHARES CORP [ IBOC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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
Common Stock								1,805,554	D
Common Stock								1,232,245	I	Held in Trust
Common Stock								9,000	I	Held by Grandchildren's Trust
Common Stock	08/14/2025		S		80,000	D	$69.83(1)	487,439	I	Held in Partnership
Common Stock	08/15/2025		S		40,000	D	$68.12(2)	447,439	I	Held in Partnership

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. This transaction was executed in multiple trades at prices ranging from $69.19 to $70.35. The price reported above reflects the weighted average sale price. Upon request, the reporting person hereby undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

2. This transaction was executed in multiple trades at prices ranging from $67.73 to $69.09. The price reported above reflects the weighted average sale price. Upon request, the reporting person hereby undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transaction was effected.

	/s/ ANTONIO R. SANCHEZ JR.	08/14/2025
	** 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.