Form 4: Cullen/Frost Executive Granted 3,347 Restricted Stock Units

Cullen/Frost Bankers, Inc. executive Bobby Berman was granted 3,347 restricted stock units, vesting in three years.

Summary

• Bobby Berman, GEVP Research & Strategy at Cullen/Frost Bankers, Inc. (CFR), was granted 3,347 Restricted Stock Units (RSUs).
• Each restricted stock unit represents the right to receive one share of Cullen/Frost common stock.
• The RSUs were granted on October 28, 2025, and will cliff vest three years from this date.
• Following this transaction, Berman directly beneficially owns 3,347 derivative securities.

Sentiment

Score: 6

Explanation: The grant of Restricted Stock Units to a key executive is a standard practice for aligning management incentives with long-term shareholder value, indicating a commitment to executive retention and performance.

Positives

• The grant of 3,347 Restricted Stock Units to a key executive, Bobby Berman, aligns management's interests with long-term shareholder value.

Future Outlook

NA

Industry Context

The grant of Restricted Stock Units (RSUs) is a common form of executive compensation in the banking and financial services industry, designed to incentivize long-term performance and align executive interests with shareholder value. This practice is standard across publicly traded companies to retain key talent and promote stability.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) with a three-year cliff vesting schedule is a standard compensation practice within the financial services industry, comparable to structures seen at institutions like JPMorgan Chase, Bank of America, or Wells Fargo for their senior executives. This approach aims to foster long-term commitment and performance.

Stakeholder Impact

• Shareholders: The grant of RSUs to a key executive aligns management's long-term interests with shareholder value, potentially fostering sustained performance.
• Employees (specifically Bobby Berman): Provides a long-term incentive and stake in the company's future success.

Next Steps

• The Restricted Stock Units are scheduled to cliff vest on October 28, 2028, at which point they will convert into shares of Cullen/Frost common stock.

Key Dates

Keywords

Cullen/Frost Bankers, CFR, Bobby Berman, Restricted Stock Units, RSU grant, Executive compensation, Insider transaction, Stock ownership