Form 4: Cullen/Frost Bankers Inc. Executive Jerry Salinas Reports Stock Transactions

Jerry Salinas, GEVP and CFO of Cullen/Frost Bankers, reports transactions involving common stock and restricted stock units.

Summary

• On October 26, 2024, Jerry Salinas exercised 2,359 restricted stock units and disposed of 928 shares of common stock to cover tax obligations at a price of $127.42.
• Following these transactions, Salinas directly owns 37,444 shares of common stock.
• On October 27, 2024, Salinas exercised 3,647 restricted stock units and disposed of 1,435 shares of common stock to cover tax obligations at a price of $127.42.
• Following these transactions, Salinas directly owns 39,656 shares of common stock.
• Salinas also indirectly owns 26,207 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives at publicly traded companies like Cullen/Frost Bankers, similar to filings made by executives at comparable regional banks such as Texas Capital Bancshares or Comerica.
• The transactions reported are typical exercises of stock options and sales to cover tax liabilities, a common occurrence among executives in publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the number of shares held by a key executive.
• The impact on employees, customers, suppliers, and creditors is likely negligible.

Key Dates