Cullen/Frost Bankers, Inc.: GEVP research & strategy Bobby Berman exercised 2,741 shares

What happened

• Bobby Berman, GEVP research & strategy, exercised or converted derivative awards for 2,741 shares on Oct 24, 2026 (transaction code M). The filing also shows a disposal of 2,741 derivative shares (transaction code M) at $0.00 and a tax withholding disposal of 1,079 shares (transaction code F) at $157.05 for $169,457.

Key details

• Transaction date(s) and price(s): Oct 24, 2026; derivative entries at $0.00; tax withholding shares at $157.05 each (total $169,457).
• Shares owned after the transaction: not reported in the provided filing.
• Footnotes: F1 each restricted stock unit represents the right to receive one share of Cullen/Frost common stock. F2 cliff vested 3 years from the date of grant.
• Filing date and timeliness: filed Oct 26, 2026 for transactions on Oct 24, 2026; the filing does not indicate it was late.

Why it may matter

• The filing shows an exercise/conversion of derivative awards for 2,741 shares and that 1,079 shares were surrendered to cover tax withholding. The filing records both acquisition and disposal entries related to the derivative transactions.
• A filing does not show why the insider traded or why the company acted.