Cullen/Frost Bankers, Inc.: counsel Rhodes Coolidge E Jr exercised 3,685 shares

What happened Rhodes Coolidge E Jr, group EVP general counsel and secretary, converted 3,685 restricted stock units into 3,685 shares on Oct 24, 2026. The filing shows 1,451 of those shares were withheld to satisfy tax withholding at $157.05 per share, totaling $227,880. The Form 4 also shows a derivative reporting entry for 3,685 shares (code M).

Key details

• Transaction date(s) and price(s): Oct 24, 2026 — conversion/exercise of derivative (code M) for 3,685 RSUs at $0.00; Oct 24, 2026 — tax withholding (code F) of 1,451 shares at $157.05, totaling $227,880. A separate code M entry lists 3,685 shares as disposed at $0.00 (derivative).
• Shares owned after the transaction: not reported on the Form 4.
• Footnotes: F1 — each restricted stock unit represents the right to receive one share; F2 — cliff vested three years from the date of grant.
• Filing date and timeliness: Form filed Oct 26, 2026 for a transaction dated Oct 24, 2026; the filing does not indicate lateness.

Why it may matter The filing shows conversion of restricted stock units and that shares were withheld to satisfy tax liability (a tax-withholding settlement, not an open-market sale). This filing does not show why the insider traded or why the company acted.