Cullen/Frost Bankers, Inc.: CFO Dan Geddes exercised 2,004 shares

What happened

• Dan Geddes, chief financial officer, exercised or converted derivatives for 2,004 shares on Oct 24, 2026. The filing shows 2,004 shares acquired at $0.00 and a separate entry showing 2,004 shares disposed at $0.00 (derivative). Separately, 789 shares were disposed to cover tax liability at $157.05 for $123,912.

Key details

• Transaction date(s) and price(s): Oct 24, 2026; exercise/conversion entries at $0.00; tax withholding disposal at $157.05 for $123,912.
• Shares owned after the transaction: not stated in the filing.
• Relevant footnotes:
  • 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.
• Filing date: Oct 26, 2026. The filing does not indicate it was late.

Why it may matter

• The filing shows an exercise or conversion of a derivative and that shares were withheld to satisfy a tax withholding obligation (789 shares), which reflects a cashless element to the transaction.
• A filing does not show why the insider traded or why the company acted.