Form 4: Cullen/Frost Bankers Executive Jimmy Stead Reports Stock Transactions
SEC Form 4 Filing
Jimmy Stead, GEVP Chief Consumer Banking at Cullen/Frost Bankers, reports the vesting and subsequent disposal of restricted stock units.
Summary
- On October 26, 2024, Jimmy Stead vested 2,302 shares of common stock from restricted stock units and disposed of 904 shares at a price of $127.42.
- Following these transactions on October 26, 2024, Stead directly owns 11,269 shares of Cullen/Frost common stock and indirectly owns 3,612 shares through a 401(k) plan.
- On October 27, 2024, Jimmy Stead vested 2,068 shares of common stock from restricted stock units and disposed of 813 shares at a price of $127.42.
- Following these transactions on October 27, 2024, Stead directly owns 12,524 shares of Cullen/Frost common stock and indirectly owns 3,612 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting normal stock transactions by an executive, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which is crucial for maintaining market integrity and investor confidence.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider trading activity, which is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 10/27/2020 | Grant date for restricted stock units that cliff vested four years later. |
| 10/26/2021 | Grant date for restricted stock units that cliff vested three years later. |
| 10/26/2024 | Date of transaction involving vesting of 2,302 restricted stock units and disposal of 904 shares at $127.42. |
| 10/27/2024 | Date of transaction involving vesting of 2,068 restricted stock units and disposal of 813 shares at $127.42. |
| 10/28/2024 | Date of signature on the Form 4 filing. |
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