Form 4: Cullen/Frost Bankers Executive Exercises Stock Options, Sells Shares to Cover Taxes
SEC Form 4 Filing
Coolidge E. Rhodes, Jr., Group EVP General Counsel/Sec of Cullen/Frost Bankers, exercised stock options and sold shares to cover tax obligations.
Summary
- On October 26, 2024, Coolidge E. Rhodes, Jr., Group EVP General Counsel/Sec of Cullen/Frost Bankers, exercised 1,630 restricted stock units, each representing one share of Cullen/Frost common stock.
- Following the exercise, Mr. Rhodes disposed of 396 shares of common stock at a price of $127.42 to cover tax obligations.
- After these transactions, Mr. Rhodes directly owns 1,704 shares of Cullen/Frost common stock and indirectly owns 539 shares through a 401(k) plan.
- He also owns 0 derivative securities.
Sentiment
Score: 5
Explanation: The document reflects standard insider transactions, with no indication of positive or negative sentiment.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to stock options and tax obligations, which is common for executives in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 10/26/2021 | Grant date of restricted stock units, cliff vested three years from this date. |
| 10/26/2024 | Date of transaction: exercise of restricted stock units and sale of shares. |
| 10/28/2024 | Date of signature on the Form 4 filing. |
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