Form 4: Cullen/Frost Bankers CEO Phillip D. Green Reports Stock Transactions
SEC Form 4 Filing
Phillip D. Green, Chairman and CEO of Cullen/Frost Bankers, reports the acquisition and disposal of company stock and restricted stock units related to vesting.
Summary
- Phillip D. Green, Chairman and CEO of Cullen/Frost Bankers, filed a Form 4 detailing changes in beneficial ownership.
- On October 26, 2024, Green acquired 11,125 shares of common stock and disposed of 4,377 shares to cover tax obligations at a price of $127.42.
- On October 27, 2024, Green acquired 16,917 shares of common stock and disposed of 6,656 shares to cover tax obligations at a price of $127.42.
- These transactions are related to the vesting of restricted stock units.
- Following these transactions, Green directly owns 104,273 shares of common stock.
- Green also indirectly owns 1,100 shares through his spouse, 38,865 shares through trusts for his children, and 359 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock vesting and tax obligations, and doesn't indicate a particularly positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/27/2020 | Grant date of restricted stock units that cliff vested four years later. |
| 10/26/2021 | Grant date of restricted stock units that cliff vested three years later. |
| 10/26/2024 | Transaction date: Acquisition of 11,125 shares and disposal of 4,377 shares. |
| 10/27/2024 | Transaction date: Acquisition of 16,917 shares and disposal of 6,656 shares. |
| 10/28/2024 | Date of Form 4 signature. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.