Form 4: Cullen/Frost Bankers Executive Alonzo Reports Stock Transactions
SEC Form 4 Filing
Annette M. Alonzo, GEVP Chief HR Officer at Cullen/Frost Bankers, reports the vesting and subsequent disposal of restricted stock units, along with associated tax withholding.
Summary
- Annette M. Alonzo, a GEVP Chief HR Officer at Cullen/Frost Bankers, reported transactions involving Cullen/Frost common stock.
- On October 26, 2024, 1,515 restricted stock units vested and were converted into common stock.
- Also on October 26, 2024, 596 shares were disposed of to cover tax obligations at a price of $127.42 per share.
- On October 27, 2024, 2,256 restricted stock units vested and were converted into common stock.
- Also on October 27, 2024, 887 shares were disposed of to cover tax obligations at a price of $127.42 per share.
- Following these transactions, Alonzo directly owns 16,298 shares of Cullen/Frost common stock and indirectly owns 14,776 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
- Similar filings are made by executives at comparable regional banks like Texas Capital Bancshares and Comerica, providing investors with insights into their stock transactions.
- The vesting and subsequent sale of shares to cover taxes is a common practice among executives receiving equity compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine equity compensation and tax obligations of a company executive.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
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 | Vesting and disposal of restricted stock units; disposal of shares for tax obligations. |
| 10/27/2024 | Vesting and disposal of restricted stock units; disposal of shares for tax obligations. |
| 10/28/2024 | Date of signature on the Form 4 filing. |
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